PHILADELPHIA, PA / ACCESSWIRE / December 9, 2022 / abrdn Global Infrastructure Income Fund (NYSE:ASGI) announced that it held a special meeting of shareholders on December 9, 2022 (the "Meeting") at which shareholders of the Fund voted to approve (i) the issuance of additional shares of the Fund in connection with the proposed reorganization of Macquarie Global Infrastructure Total Return Fund Inc. and (ii) ratified the selection of KPMG LLP as the Fund's independent registered public accounting firm for the fiscal year ending September 30, 2023.
As of the record date, August 11, 2022, the Fund had outstanding 8,855,000 shares of common stock. 82.61% of outstanding common stock were voted, representing a quorum.
Proposal 1: To approve the issuance of additional shares of beneficial interest of the Fund in connection with the reorganization of Macquarie Global Infrastructure Total Return Fund Inc. ("MGU"), another closed-end fund, with and into the Fund.
Proposal 2: To ratify the selection of KPMG LLP as independent registered accounting firm for the Fund for the fiscal year ending September 30, 2023.
The shareholders of MGU approved the reorganization at a special shareholder meeting also held on November 9, 2022. It is currently expected that the reorganization will be completed in the first quarter of 2023 subject to the satisfaction of customary closing conditions.
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, abrdn Australia Limited, abrdn Asia Limited, Aberdeen Capital Management, LLC, abrdn ETFs Advisors LLC and abrdn Alternative Funds Limited.
The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Closed-end funds are traded on the secondary market through one of the stock exchanges. Each Acquiring Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that each Acquiring Fund will achieve its investment objective. Past performance does not guarantee future results.
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SOURCE: abrdn Global Infrastructure Income Fund
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