abrdn Equity Income Trust PLC - London-based trust investing in UK-quoted companies - Negotiates change to management fee payable to its manager. Effective from October 1, its management fee will be a flat fee of 0.55% per year of abrdn Equity Income's net asset value. This is from a previous annual 0.65% rate up to GBP175 million in NAV and at 0.55% annually of NAV above GBP175 million. Says the change will result in a 15% reduction in the fee payable compared to the previous arrangement, based on a NAV of GBP142.7 million as of Monday. All other details under the company's management deal agreed in 2014 remain unchanged.
Current stock price: 300.00 pence, down 1.0%
12-month change: down 3.9%
By Greg Rosenvinge, Alliance News senior reporter
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Abrdn Equityinc (AEI)