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LONDON - abrdn UK Smaller Companies Growth Trust PLC (LSE:ASCG) announced today its intention to seek shareholder approval for the cancellation of its share premium account and the renewal of its share buyback authority. The move comes as the company aims to enhance capital management flexibility.
The company has issued a circular detailing the proposals and has called for a general meeting to be held on May 21, 2025, at the offices of Aberdeen Group plc in London, where shareholders will vote on the matter.
The cancellation of the share premium account, subject to court approval, would enable the company to return capital to shareholders more efficiently. Meanwhile, the renewal of the share buyback authority would allow the company to repurchase its own shares, a common practice aimed at reducing the number of shares on the market, potentially increasing the value of remaining shares and providing the company with additional treasury shares for future use.
The circular containing full details of the proposals is now accessible through the National Storage Mechanism and can also be found on the company’s website. This document provides shareholders with the necessary information to make an informed decision at the upcoming general meeting.
This announcement is based on a press release statement and does not constitute an endorsement of the company’s strategies or imply any future performance. Shareholders are encouraged to review the circular and cast their votes on the proposed financial strategies.
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