Proposed discount control management policy

RNS Number : 6646W

Aberdeen Diversified I&G Trust PLC

13 February 2017

 

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13 February 2017

Aberdeen Diversified Income and Growth Trust plc

(the "Company", formerly BlackRock Income Strategies Trust plc)

LEI - 2138003QINEGCHYGW702

Proposed discount control management policy

In view of the proposed changes to the Company as announced on 30 November 2016 ("the Proposals"), and following further consultation with many of the Company's shareholders, the Board has given detailed consideration to the appropriate discount control mechanism for the Company following the implementation of the Proposals. The Board has decided, subject to normal market conditions, prevailing gearing level and the composition of the Company's portfolio, to implement a discount control mechanism to maintain the Company's share price discount to net asset value (ex income, debt at fair value) at no wider than 5 per cent., by repurchasing ordinary shares in the market.

The Board has also resolved to put forward a continuation vote to shareholders at the Annual General Meeting in 2020 and at every Annual General Meeting thereafter.

Enquiries

Cenkos Securities

Will Rogers                         020 7397 1920

Sapna Shah                         020 7397 1922

Alan Ray                              020 7397 1916

Oliver Packard                  020 7397 1918

Aberdeen Fund Managers Limited

William Hemmings         020 7463 6223

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.  Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

 

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