Business
Publication of Circular and Notice of GM
Publication of Circular and Notice of GM.
About this update from Abrdn European Logistics Income Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\n \n \n5 July 2024 \n \nFor Immediate Release\n \nabrdn European Logistics Income plc\n \nPublication of Circular and Notice of General Meeting\n \nFurther to the announcement of 20 May 2024, the Board of abrdn European Logistics Income plc (the \"Company\") announces that a circular (the \"Circular\") to convene a general meeting (the \"General Meeting\") has been published today and sent to shareholders (\"Shareholders\"), the purpose of which is to propose the adoption of an amended investment policy in order to implement a managed wind-down of the Company (the \"Managed Wind-Down\").\n \nUnder the proposed Managed Wind-Down process, the Company will be managed with the intention of realising all the assets in its portfolio in an orderly manner and with a view to repaying borrowings and making timely returns of capital to Shareholders.\n \nThe adoption of the amended investment policy is conditional on Shareholder approval by way of an ordinary resolution requiring the approval of a majority of the Company's shares voted at the General Meeting (whether in person or by proxy).\n \nAdditionally, in order to assist with the future process of distributing net disposal proceeds from the sale of assets to Shareholders, the Company is proposing a further special resolution at the General Meeting to cancel the Company's current share premium account in order to create further distributable reserves for the Company.\n \nThe Board unanimously recommends that Shareholders vote in favour of both resolutions to be proposed at the General Meeting.\n \nThe Board and abrdn Fund Managers Limited (\"abrdn...