TIDMASCI
RNS Number : 0330U
abrdn Smaller Companies Inc Tst plc
20 November 2023
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JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, ANY MEMBER STATE
OF THE EEA, OR ANY JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL.
This announcement is not an offer to sell, or a solicitation of
an offer to acquire, securities in the United States or in any
other jurisdiction in which the same would be unlawful. Neither
this announcement, nor any part of it, shall form the basis of, or
be relied upon in connection with, or act as an inducement to enter
into, any contract or commitment whatsoever.
20 November 2023
ABRDN SMALLER COMPANIES INCOME TRUST PLC
Legal Entity Identifier: 213800J6D2TVHRGKBG24
Result of First General Meeting
In connection with the proposals for the voluntary winding-up of
abrdn Smaller Companies Income Trust plc ("ASCI" or the "Company")
and combination with Shires Income plc ("Shires" or "SHRS") by way
of a scheme of reconstruction of the Company under Section 110 of
the Insolvency Act 1986 (the "Scheme"), the Company is pleased to
announce the result of the First General Meeting.
The Company announces the resolutions proposed at the First
General Meeting held today, have been approved by Shareholders.
Details of the number of votes cast for, against and withheld in
respect of the resolutions, which were each held on a poll, is set
out below and will also be published on the Company's website
www.abrdnsmallercompaniesincome.co.uk .
Resolution Votes For (including % Votes % Votes % Issued Votes
Discretionary) Against Total Share Withheld(2)
Capital
represented
by Votes
Total(1)
To approve the
Related
Party Transaction 4,249,809 98.16 79,464 1.84 4,329,273 19.58% 8,072
-------------------------- ------ --------- ----- ---------- ------------- -------------
To approve the
reclassification
of the shares in the
capital
of the Company as
shares
with "A" rights,
shares
with "B" rights and
shares
with "C" rights, and
to
approve changes
required
to the Company's
articles
of association. 7,251,948 98.93 78,368 1.07 7,330,316 33.15% 17,405
-------------------------- ------ --------- ----- ---------- ------------- -------------
To approve the Scheme
subject to certain
conditions
being satisfied. 7,262,351 98.93 78,368 1.07 7,340,719 33.20% 7,002
-------------------------- ------ --------- ----- ---------- ------------- -------------
(1.) The number of Ordinary Shares in issue as at the voting
record time of 6.30 p.m. (London time) on 16 November 2023 (the
"Voting Record Time") was 22,109,765 . As at that date no shares
were held in treasury. Therefore, the total number of voting rights
in the Company as at the Voting Record Time was 22,109,765.
(2.) A 'vote withheld' is not a vote in law and will not be
counted in the calculation of the proportion of the votes for and
against a resolution.
(3.) As at the Voting Record Time, Independent Shareholders held
19,096,039 Ordinary Shares representing 86.4% per cent. of the
Company's issued share capital as at the Voting Record Time.
On 30 October 2023 the Board announced that, subject to the
passing of the resolutions at the First General Meeting, a
Pre-liquidation Dividend of 14.75p per Ordinary share in respect of
the year to 31 December 2023 would be paid to Shareholders (on the
register as at close of business on 10 November 2023) on 24
November 2023. This condition has been satisfied.
The Ordinary Shares will be disabled for settlement in CREST
from 6:00 p.m. on 24 November 2023 and trading will be suspended
from 7.30 a.m. on 27 November 2023. Following the reclassification
of the Ordinary Shares on 30 November 2023, the Reclassified Shares
will be suspended from listing at 7.30 a.m. on 1 December 2023.
The full text of the ordinary and special resolutions of the
First General Meeting are set out in the Notice of First General
Meeting, contained in the Company's circular to Shareholders dated
17 October 2023 (the "Circular").
The Circular is available for viewing on the Company's website,
www.abrdnsmallercompaniesincome.co.uk and at the National Storage
Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
.
Defined terms used in this announcement have the meanings given
in the Circular unless the context otherwise requires.
For further information:
abrdn Smaller Companies Income
Trust plc
Dagmar Kent Kershaw, Chair 0131 372 2200
Winterflood Securities
Neil Morgan 0203 100 0000
General
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END
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