abrdn Diversified Income & Growth PLC - Edinburgh-based investor across asset classes - Commences strategic review to consider how it can "best deliver value" to shareholders. Says review is in light of the "material discount" of its shares to its net asset value, which has persisted for a "prolonged" period despite initiatives such as share buybacks. abrdn Diversified is "conscious of the lack of opportunities to grow...with the current discount," limiting its ability "to pursue the widest possible range of attractive investments." Says on Tuesday NAV total return from September 2020 to March 31 is 19.6% including 13.96p per share total dividends. abrdn Diversified insists it "remains well positioned to deliver attractive total returns over the medium term."
Chair Davina Walter says: "While the board is encouraged by the management of the company's portfolio, the company's shares continue to trade at a persistently deep discount to net asset value...we will consider all options, including, but not limited to, a combination with an existing investment trust."
Current stock price: 87.25p, up 3.0% on Tuesday in London
12-month change: down 12%
By Emma Curzon, Alliance News reporter
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Abrdn Di&g (ADIG)