LONDON - abrdn Diversified Income and Growth plc announced today that its shareholders have approved two significant resolutions during the General Meeting. The approved resolutions will lead to the cancellation of the company’s capital redemption reserve and the removal of the requirement for a continuation vote at each annual general meeting.
The first resolution, which received overwhelming support with 99.91% votes in favor, allows the company to cancel the entire amount standing to the credit of its capital redemption reserve. This move is subject to the confirmation of the Court of Session. The capital thus released will be credited to a newly created "Distributable Capital Reserve," which can be used in the same way as the company’s distributable profits.
The second resolution, which passed with 99.84% of the vote, involves amending the company’s articles of association to eliminate the article that requires a continuation vote at each annual general meeting. This amendment is effective immediately following the conclusion of the general meeting.
The specific details of the proxy votes cast for, against, and withheld were disclosed and will also be made available on the company’s website. The total votes represented 31.30% of the issued share capital for the first resolution and 31.23% for the second.
The full text of the resolutions was previously detailed in the circular to shareholders dated December 5, 2024, which is accessible through the National Storage Mechanism and on the company’s official website.
The results of this General Meeting mark a significant change in the company’s financial structure and governance. This information is based on a press release statement from abrdn Diversified Income and Growth plc.
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