Announcement by abrdn Smaller Cos Income Trust plc

RNS Number : 8625P

Shires Income PLC

14 February 2023

 

Shires Income PLC

LEGAL ENTITY IDENTIFIER (LEI): 549300HVCIHNQNZAYA89

Announcement by abrdn Smaller Companies Income Trust plc

The Board of Shires Income PLC ("Shires Income") notes the announcement on 13th February 2023 by the Board of abrdn Smaller Companies Income Trust plc ("ASCIT") concerning a strategic review.  Over the last few months, Shires Income, which owns 13.6% of ASCIT, has been discussing a proposal with the Board of ASCIT and its advisers, which the Board of Shires Income believed delivered compelling benefits for both sets of shareholders. Shires Income will consider its position in the light of ASCIT's announcement and a further announcement may be made in due course.

 For avoidance of doubt, the proposal did not anticipate Shires Income making any Offer, recommended or otherwise, under the City Code on Takeover and Mergers (the "City Code"). This announcement has been made to clarify Shires Income's position under the City Code and UK Market Abuse Regulation.

Contact:

William Simmonds

J.P. Morgan Cazenove

[phone]

 

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