Strategic Review

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

 

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