Update on Strategic Review & Fourth Int. Dividend
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
Date: 19 February 2024
For Immediate Release
abrdn European Logistics Income plc
Update on Strategic Review and Fourth Interim Dividend
The Board of abrdn European Logistics Income plc (the "Company") provides an update in respect of the strategic review announced on 27 November 2023 (the "Strategic Review").
Since 27 November 2023, the Company has received a number of broad ranging preliminary, indicative non-binding proposals. While there can be no certainty at this stage that the final terms of any proposal will prove to be sufficiently attractive to merit a Board recommendation to the Company's shareholders, the Board is encouraged by the progress made to date and the Company's advisers are actively engaging with a select number of parties to satisfy their due diligence requirements. The Board will provide further updates as appropriate.
Fourth Interim Dividend
In light of the initial response to the Strategic Review, the Board and its advisers are keen to ensure that the Company is optimally positioned, and that it maintains the maximum flexibility, to allow it to advance any particular proposal. As a result, the Board has taken the decision to forgo declaring a fourth interim distribution for the quarter ended 31 December 2023, which has historically been declared in February and paid in March each year.
Subject to the outcome of the Strategic Review, the Board intends to recommence dividend payments in line with the Company's standard dividend timetable.
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Enquiries
Investec Bank plc (Financial Adviser and Corporate Broker) David Yovichic Denis Flanagan |
+44 (0) 20 7597 4000
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FTI Consulting Dido Laurimore Richard Gotla James McEwan
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+44 (0) 20 3727 1000
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LEI Number
The Company's LEI Number is 213800I9IYIKKNRT3G50
Investec Bank plc, which is authorised in the United Kingdom by the Prudential Regulation Authority and regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for abrdn European Logistics Income plc and no one else in connection with the matters discussed in this announcement and shall not be responsible to anyone other than abrdn European Logistics Income plc for providing the protections afforded to clients of Investec, nor for providing advice in connection with any matter referred to herein. Neither Investec nor any of its affiliates (nor any of its or their respective directors, officers, employees, representatives or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Investec in connection with this announcement, any statement contained herein or otherwise.
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by laws of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law or any such jurisdiction.
Publication on a website
In accordance with Rule 26.1 of the Takeover Code, a copy of this announcement will, subject to certain restrictions relating to persons resident in restricted jurisdictions, be available on the Company's website at https://www.eurologisticsincome.co.uk no later than 12 noon (London time) on the business day following the date of this announcement. Neither the content of any website referred to in this announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this announcement.
Inside Information
The information contained within this announcement is deemed by abrdn European Logistics Income plc to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014 (as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. On the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain.
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