REG - abrdn Euro Logistics - Declaration of Interim Dividend

abrdn European Logistics IncomeAnnouncement

23/05/2024 07:00

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RNS Number : 5514P  abrdn European Logistics Income plc  23 May 2024

abrdn European Logistics Income plc

LEI: 213800I9IYIKKNRT3G50

 

DECLARATION OF INTERIM DISTRIBUTION

 

23 May 2024 - abrdn European Logistics Income plc (LSE: ASLI), the Company
which invests in a diversified portfolio of European logistics properties,
announces an interim distribution for the year ending 31 December 2024.

 

The Board has declared an interim distribution of 1.41 euro cents (equivalent
to 1.21 pence) per Ordinary share, in respect of the year ending 31 December
2024 (2023: 1.41 euro cents), payable in sterling on 5 July 2024 to Ordinary
shareholders on the register on 7 June 2024 (ex-dividend date of 6 June 2024).

 

Following the announcement of the conclusion of the Strategic Review on 20 May
2024, the Board intends to put forward proposals to shareholders for a managed
wind-down of the Company (the "Managed Wind-Down"). Accordingly, the Company
expects to publish a circular in June 2024 to convene a general meeting at
which it will seek approval from shareholders for the proposed new investment
policy by way of ordinary resolution. Should shareholders vote to approve the
Managed Wind-Down, as the portfolio asset disposal programme commences, the
income generated by the Company will diminish. As a result, the Company's
ability to maintain the current level and frequency of distributions will also
decrease.

 

Distributions will be required to ensure that the Company's investment trust
status is maintained through the process and may take the form of either
dividend income or "qualifying interest income" which may be designated as an
interest distribution for UK tax purposes and therefore subject to the
interest streaming regime applicable to investments trusts.

 

Of this interim distribution declared of 1.21 pence per Ordinary share, 1.02
pence (equivalent to 1.19 euro cents) is declared as dividend income with 0.19
pence (equivalent to 0.22 euro cents) treated as qualifying interest income.

 

The interim distribution will be paid in sterling to shareholders on the
register. However, shareholders are able to make an election to receive
distributions in euros. The form for applying for such election can be
obtained from the Company's UK registrars (Equiniti Limited) and any such
election must be received by the Company's registrars no later than 5:00 p.m.
on 7 June 2024.

 

 

Details of the Company and its property portfolio may be found on the
Company's website which can be found at: www.eurologisticsincome.co.uk

 

 

abrdn Holdings Limited

Secretary

 

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