abrdn National Municipal Income Fund (VFL) Announces Adjournment of Special Shareholder Meeting Relating to Proposed Reorganization

Rhea-AI Summary

abrdn National Municipal Income Fund (NYSE: VFL) adjourned its Special Meeting of Shareholders on March 11, 2026, to solicit additional proxies and set a new meeting date of Wednesday, April 1, 2026 at 11:00 am ET. Shareholders are being asked to vote on a proposed Agreement and Plan of Reorganization between VFL and MFS Municipal Income Trust (NYSE: MFM).

The Board of Trustees unanimously recommends that shareholders vote for the reorganization. Supplemental proxy materials will be mailed and are available on www.sec.gov. The announcement reiterates closed-end fund risks, including NAV premium/discount fluctuations and no assurance of meeting investment objectives.

Positive

• Board of Trustees unanimously recommends the reorganization
• New meeting date set for April 1, 2026 at 11:00 am ET to complete shareholder vote

Negative

• Special Meeting was adjourned due to need for additional proxies, indicating initial quorum shortfall

News Market Reaction – MFM

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In the Mar 12 session, MFM declined 1.10%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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PHILADELPHIA, March 11, 2026 /PRNewswire/ -- abrdn National Municipal Income Fund (NYSE: VFL) announces that the Special Meeting of Shareholders was held and adjourned today, to allow for the solicitation of additional proxies to achieve the requisite quorum. The Fund has set a new adjournment date for its Special Meeting of Shareholders of Wednesday, April 1, 2026, at 11:00 am Eastern Time.

Shareholders of the Fund are being asked to vote on the proposal to approve an Agreement and Plan of Reorganization between the abrdn National Municipal Income Fund (NYSE: VFL) and MFS Municipal Income Trust (NYSE: MFM).

The Board of Trustees unanimously recommends that you cast your vote for the Reorganization of the fund pursuant to the plan of Reorganization as described in the Joint Proxy Statement/Prospectus.

Shareholders are directed to the supplemental proxy materials that they will receive in the mail for further information. The proxy statement, as supplemented to date, is also available on the Securities and Exchange Commission's website, www.sec.gov.

Important Information

Closed-end funds are traded on the secondary market through one of the stock exchanges. A 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 a fund will achieve its investment objective. Past performance does not guarantee future results.

The value at which a closed-end fund stock trades on a stock exchange is a function of external market factors that are not under the control of the Fund's Board or Investment Advisor. Closed-end fund shares may therefore trade at a premium or a discount to net asset value at any given time. Shareholders should be aware that a fund trading at a premium to net asset value may not be sustainable, and a fund's discount to net asset value can widen as well as narrow. Shareholders of a fund trading at a premium who participate in that fund's dividend reinvestment plan should note the reinvestment of distributions may occur at a premium to net asset value.

About Aberdeen Investments

Aberdeen Investments Global is the trade name of Aberdeen's investments business, herein referred to as "Aberdeen Investments" or "Aberdeen". In the United States, Aberdeen Investments refers to the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

Aberdeen Investments is one of the world's largest asset management firms with extensive experience in managing closed-end funds dating back to the 1980s. As of December 31, 2025, Aberdeen Investments had approximately $525 billion in assets under management.

abrdn National Municipal Income Fund | Aberdeen

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SOURCE abrdn National Municipal Income Fund

FAQ

Why was the abrdn National Municipal Income Fund (VFL) Special Meeting adjourned and when is the new date?

The meeting was adjourned to solicit additional proxies to reach the required quorum. According to the company, the Special Meeting is rescheduled for April 1, 2026 at 11:00 am ET to complete the shareholder vote.

What are VFL shareholders being asked to vote on regarding the MFM reorganization?

Shareholders are being asked to approve an Agreement and Plan of Reorganization between VFL and MFM. According to the company, the vote covers the terms described in the joint proxy statement/prospectus.

What does the Board of Trustees recommend for VFL shareholders on the reorganization vote (NYSE: VFL)?

The Board of Trustees unanimously recommends voting in favor of the reorganization. According to the company, trustees support the plan as described in the joint proxy statement/prospectus.

Where can VFL and MFM shareholders find the supplemental proxy materials and details about the reorganization?

Supplemental proxy materials will be mailed to shareholders and are available online. According to the company, the proxy statement, as supplemented to date, is posted on www.sec.gov.

How might the proposed reorganization between VFL and MFM affect VFL shareholders in the near term?

The immediate effect is a required shareholder vote and temporary meeting adjournment to gather proxies. According to the company, shareholders should review the supplemental proxy for details on terms and shareholder impacts.