abrdn Smaller Companies Inc Tst plc Strategic Review (6390P)
February 13 2023 - 2:00AM
UK Regulatory
TIDMASCI
RNS Number : 6390P
abrdn Smaller Companies Inc Tst plc
13 February 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR
INDIRECTLY (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICITON
WHERE TO DO SO WOULD COSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF THE JURISDICITON.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATON FOR THE PURPOSES OF
ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS
PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMENDED. ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
For immediate release
13 February 2023
abrdn Smaller Companies Income Trust plc ("the Company")
Strategic Review
The Company continues to deliver upon its investment objective
of providing a high and growing dividend and capital growth from a
portfolio invested principally in UK smaller companies and UK fixed
income securities.
However, the Company's shares have continued to trade at a
material discount to their net asset value for a prolonged period
of time and this, coupled with the Company being of a small scale,
has created challenges in generating improved liquidity in the
Company's shares and will also restrict the Company's ability to
grow over time.
Whilst the board of directors of the Company (the "Board")
believes that the Company remains in a position to continue to
generate attractive returns for all shareholders, the Board today
announces that it intends to undertake a strategic review to
consider the future of the Company. The strategic review will
include consideration of a combination of the Company's assets with
another suitable investment trust, possibly coupled with a cash
exit.
The Board will continue to update shareholders on the progress
of the strategic review, as appropriate. There can be no certainty
as to the outcome of the strategic review nor whether any potential
transaction would be successfully completed.
Enquiries:
Dagmar Kershaw, Chair
0131 372 2200
Joe Winkley, Winterflood Securities
0203 100 0301
Douglas Armstrong, Dickson Minto Advisers
0207 649 6823
Legal Entity Identifier: 213800J6D2TVHRGKBG24
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFLFVDFEIILIV
(END) Dow Jones Newswires
February 13, 2023 02:00 ET (07:00 GMT)
Abrdn Smaller Companies ... (LSE:ASCI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abrdn Smaller Companies ... (LSE:ASCI)
Historical Stock Chart
From Jul 2023 to Jul 2024