LONDON, UK: abrdn Diversified Income and Growth plc (the “Company”) has announced that it will wind down its operations and return cash to shareholders following feedback from its shareholders and the persistent discount to its net asset value (“NAV”).
The Company will seek shareholder approval for the change of its investment objective and policy at its annual general meeting on 27 February 2024.
The Company plans to sell its liquid assets, comprising fixed income, credit, and listed equities, and return approximately £115 million to shareholders in the first half of 2024 at, or close to, NAV. The Company will also realise its private markets portfolio, valued at £188.8 million as of 30 November 2023, in two tranches and return the proceeds to shareholders as they mature. The Company will cease making new investments, reduce its ongoing costs, and repay its debt arrangements of c.£16.1 million during 2024.
The Company will continue to pay its regular quarterly dividend until the change of investment objective and policy is approved, and will review the level of dividend payable thereafter.
abrdn Diversified Income and Growth launches strategic review