Abrdn Di&g Regulatory News (ADIG)

abrDn diversified income and growth PLC

Legal Entity Identifier (LEI): 2138003QINEGCHYGW702

10 APRIL 2024

REDEMPTION AND CANCELLATION OF 6.25 PER CENT BONDS DUE 2031

Bond Redemption

The Board of abrdn Diversified Income and Growth plc (the "Company") hereby announces that, following the agreement of shareholders to the proposal to put the Company into managed wind-down, the Company redeemed and cancelled the remaining £16,096,000 in aggregate principal amount of its 6.25% Bonds due 2031 (ISIN XS0134340180) (the "Bonds") on 9 April 2024.

As announced on 8 March 2024, the redemption price was 114.983%. The redemption price having been calculated in accordance with the conditions, using the gross redemption yield of the United Kingdom 6% Treasury Stock due 7 December 2028.

Application has been made for the admission of £16,096,000 in principal amount of the Bonds to the Official List of the United Kingdom Listing Authority to be cancelled in accordance with the FCA's Listing Rules. Following this redemption and cancellation there remain no further Bonds outstanding and the Company has no further debt.

Expected circular and approvals

The Company has commenced the process required for Court approval for the shareholder approved reduction in the nominal value of the Company's ordinary shares from 25 pence per ordinary share to one penny per ordinary share (the "Capital Reduction") and cancellation of the entire amount standing to the credit of the Company's capital redemption reserve (the "Capital Redemption Cancellation") and share premium account to create distributable reserves which may be applied in any manner permitted by the Companies Act and/or the Company's articles of association (including for any bonus share issues and/or redemptions, tender offers, share buy backs and/or other returns of capital) excluding (in respect of the Capital Reduction and Capital Redemption Cancellation) the payment of dividends.

The Company also expects in the coming weeks to issue a further circular providing details of the expected initial capital return, which is proposed to be carried out by way of an issue and redemption of bonus shares to all shareholders (the "B Share Scheme"), including a summary of the UK taxation consequences for shareholders. The circular will convene a general meeting to seek the further shareholder approvals required to be granted for the implementation of the B Share Scheme. Subject to these further shareholder approvals being granted and the required Court approvals being received, it is expected that the initial return of capital will be implemented around the end of June 2024.

Contact details

For further information please contact:

abrdn Holdings Limited, Secretaries

Email: cef.cosec@abrdn.com