13 Feb 2023 07:00
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For immediate release
13 February 2023
abrdn Smaller Companies Income Trust plc ("the Company")
Strategic Review
The Company continues to deliver upon its investment objective of providing a high and growing dividend and capital growth from a portfolio invested principally in UK smaller companies and UK fixed income securities.
However, the Company's shares have continued to trade at a material discount to their net asset value for a prolonged period of time and this, coupled with the Company being of a small scale, has created challenges in generating improved liquidity in the Company's shares and will also restrict the Company's ability to grow over time.
Whilst the board of directors of the Company (the "Board") believes that the Company remains in a position to continue to generate attractive returns for all shareholders, the Board today announces that it intends to undertake a strategic review to consider the future of the Company. The strategic review will include consideration of a combination of the Company's assets with another suitable investment trust, possibly coupled with a cash exit.
The Board will continue to update shareholders on the progress of the strategic review, as appropriate. There can be no certainty as to the outcome of the strategic review nor whether any potential transaction would be successfully completed.
Enquiries:
Dagmar Kershaw, Chair
0131 372 2200
Joe Winkley, Winterflood Securities
0203 100 0301
Douglas Armstrong, Dickson Minto Advisers0207 649 6823
Legal Entity Identifier: 213800J6D2TVHRGKBG24