Business
B Share Scheme Apportionment Ratio
B Share Scheme Apportionment Ratio.
About this update from Abrdn European Logistics Income Plc
[{"type":"text","content":"\n\nabrdn European Logistics Income plc\n2 April 2025\nLEI: 213800I9IYIKKNRT3G50\nB Share Scheme Apportionment Ratio\nFurther to the Company announcement dated 27 February 2025, abrdn European Logistics Income plc (the \"Company\") confirms the apportionment ratio in relation to the initial B share issue and the associated book cost. The Circular issued in relation to the B Share Scheme issued on 6 November 2024 may be found on the Company's website at: www.eurologisticsincome.co.uk in which Part 5 related to United Kingdom taxation.\n \nPursuant to the authority received from Shareholders at the general meeting held on 22 November 2024, the Board resolved to return approximately £16.5 million in aggregate to Shareholders via an issue of B Shares. On 7 March 2025 1,648,697,424 B Shares of one penny each were paid up from the Company's special distributable reserve and issued to all Shareholders by way of a bonus issue on the basis of 4 B Shares for every 1 Ordinary Share held at the Record Date of 6.00 p.m. on 6 March 2025.\n \nThe B Shares were immediately redeemed at their nominal value of one penny per B Share with a Redemption Date of 7 March 2025. The proceeds from the redemption of the B Shares, which is equivalent to 4 pence per Ordinary Share, were sent to uncertificated Shareholders through CREST with cheques posted to certificated Shareholders on 20 March 2025. Shareholders should note that no certificates were issued in respect of the B Shares.\n \nFor the purposes of United Kingdom taxation of capital gains and corporation tax on chargeable gains (\"Capital Gains Tax\"), the issue of B Shares constitutes a reorganisation of the share capital of the Company. Accordingly, the B Shares are treated as the same asset as a shareholder's holding of existing Ordinary shares, and as having been acquired at the same time as a shareholder's holding of existing Ordinary shares. A shareholder's combined holding of Ordinary shares and B shares has the same aggregate base cost as the shareholder's holding of Ordinary shares immediately before the issue of B shares. The aggregate base cost should be apportioned between B shares and the Ordinary shares held by a Shareholder by reference to the market values of the Ordinary shares and the B shares on the first day of trading after the issue of B shares.\n \nDue to ...