abrdn Total Dynamic Dividend Fund (AOD) Announces Update on Proposed Acquisition of Assets from First Trust Specialty Finance and Financial Opportunities Fund
The abrdn Total Dynamic Dividend Fund (NYSE:AOD) announced that the proposed acquisition of assets from First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) did not proceed as planned. At the adjourned special meeting of FGB shareholders on August 29, 2024, the required 1940 Act quorum was not attained, resulting in insufficient votes to pass the reorganization proposal. This outcome means that the proposed asset transfer between the two funds will not take place as initially intended.
Il Fondo Abrdn Total Dynamic Dividend (NYSE:AOD) ha annunciato che l'acquisizione proposta di attivi dal First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) non è avvenuta come previsto. Durante l'assemblea straordinaria rimandata degli azionisti di FGB del 29 agosto 2024, il quorum richiesto dalla legge del 1940 non è stato raggiunto, risultando in un numero insufficiente di voti per approvare la proposta di riorganizzazione. Questo risultato significa che il trasferimento di attivi proposto tra i due fondi non avverrà come inizialmente previsto.
El Fondo Abrdn Total Dynamic Dividend (NYSE:AOD) anunció que la adquisición propuesta de activos del First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) no se llevó a cabo como se planeó. En la reunión especial adjournada de accionistas de FGB el 29 de agosto de 2024, no se alcanzó el quórum requerido por la Ley de 1940, lo que resultó en una votación insuficiente para aprobar la propuesta de reorganización. Este resultado significa que la transferencia de activos propuesta entre los dos fondos no se llevará a cabo como se había previsto inicialmente.
abrdn 총역동 배당펀드 (NYSE:AOD)가 퍼스트 트러스트 스페셜티 파이낸스 및 재정 기회 펀드 (NYSE:FGB)의 자산 인수가 계획대로 진행되지 않았다고 발표했습니다. 2024년 8월 29일로 연기된 FGB 주주 특별 회의에서 1940년 법에 따라 요구되는 정족수에 도달하지 못해 재조직안을 통과시키기에 충분한 투표가 이루어지지 않았습니다. 이 결과는 두 펀드 간의 제안된 자산 이전이 처음 의도했던 대로 진행되지 않을 것임을 의미합니다.
Le Fonds Abrdn Total Dynamic Dividend (NYSE:AOD) a annoncé que l'acquisition proposée d'actifs du First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) ne s'est pas déroulée comme prévu. Lors de la réunion spéciale reportée des actionnaires de FGB du 29 août 2024, le quorum requis par la loi de 1940 n'a pas été atteint, entraînant un nombre insuffisant de voix pour approuver la proposition de réorganisation. Ce résultat signifie que le transfert d'actifs proposé entre les deux fonds ne se fera pas comme initialement prévu.
Der abrdn Total Dynamic Dividend Fund (NYSE:AOD) hat angekündigt, dass die vorgeschlagene Übernahme von Vermögenswerten des First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) nicht wie geplant durchgeführt wurde. Bei der vertagten außerordentlichen Hauptversammlung der FGB-Aktionäre am 29. August 2024 wurde das erforderliche Quorum gemäß dem 1940 Act nicht erreicht, was zu einer unzureichenden Anzahl an Stimmen führte, um den Reorganisationsvorschlag zu verabschieden. Dieses Ergebnis bedeutet, dass die vorgeschlagene Vermögensübertragung zwischen den beiden Fonds nicht wie ursprünglich beabsichtigt stattfinden wird.
- None.
- Failed acquisition attempt of FGB's assets
- Inability to achieve strategic expansion through proposed reorganization
- Potential loss of synergies and growth opportunities
PHILADELPHIA, PA / ACCESSWIRE / August 29, 2024 / The Board of Trustees of abrdn Total Dynamic Dividend Fund (NYSE:AOD) ("AOD"), announces that shareholders of First Trust Specialty Finance and Financial Opportunities Fund (NYSE:FGB) ("FGB"), advised by First Trust Advisors L.P., did not attain a 1940 Act quorum at its adjourned special meeting of shareholders on August 29, 2024 and therefore there were insufficient votes to pass the proposed reorganization proposal.
Important Information
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited. and abrdn Asia 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.
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If you wish to receive this information electronically, please contact Investor.Relations@abrdn.com
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For More Information Contact:
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Investor Relations
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SOURCE: abrdn Total Dynamic Dividend Fund
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FAQ
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