Abrdn Smaller Companies ... Share Discussion Threads

[sutherlh] 16/12/2023 14:17

I have received mine with AJBell. H

[beaverfish] 16/12/2023 13:14

thanks for reply,still nothing yet,probably Monday then.

[vulgaris] 15/12/2023 14:56

Yes, payment of GBP2.393 per share credited by Chas Stanley Direct today. Not sure why they've paid into the A/C rather than to me directly, since I have sponsored membership and ordinarily get dividend cheques directly. But, never mind, funds have appeared. I also held via SIPP with Barclays/AJ Bell and they too have credited proceeds today.

[beaverfish] 15/12/2023 14:00

Hi all, just wondering if anybody received their cash yet?I haven't with HSBC and I phoned invest direct(HSBC)but they had no idea,Guessing it should appear Monday?

[pherrom] 01/12/2023 10:27

Scheme of Arrangement

Meeting Dates: 20th November 2023 and 1st December 2023
Record Date: 24th November 2023
Effective Date: 1st December 2023
Offer Price: New shares and/or GBP Cash
Shares Pay Date: 4th December 2023
Cash Pay Date: No later than 15th December 2023

[vulgaris] 01/12/2023 10:20

Has anyone found a timeline for the liquidation and payment(s) to those of us who've elected for cash?

[dr biotech] 27/11/2023 21:28

Its part of the process...

On 30 October 2023 the Board announced that, subject to the passing of the resolutions at the First General Meeting, a Pre-liquidation Dividend of 14.75p per Ordinary share in respect of the year to 31 December 2023 would be paid to Shareholders (on the register as at close of business on 10 November 2023) on 24 November 2023. This condition has been satisfied.

The Ordinary Shares will be disabled for settlement in CREST from 6:00 p.m. on 24 November 2023 and trading will be suspended from 7.30 a.m. on 27 November 2023. Following the reclassification of the Ordinary Shares on 30 November 2023, the Reclassified Shares will be suspended from listing at 7.30 a.m. on 1 December 2023.

The full text of the ordinary and special resolutions of the First General Meeting are set out in the Notice of First General Meeting, contained in the Company's circular to Shareholders dated 17 October 2023 (the "Circular").

[thelongandtheshortandthetall] 27/11/2023 18:56

Why have these been temporarily suspended. Anyone know?
Cheers

[citytilidie] 09/11/2023 08:50

Looking at the disastrous share prices performance of both since the merger was announced, it would appear to me that Aberdeen now realise that they may have made a dreadful mistake. If they thought that the 2 funds were too small then they should have simply liquidated them. ASCI shareholders would have received in the region of £2.80 instead of the current price of £2.30, and Shire holders would have received £2.50 instead of the current price of £2.20.
Aberdeen, trying to keep the 2 lots of funds under their own umbrella have ended up costing both lots of shareholders millions of pounds needlessly due to their own ineptitude, and I’m sure institutions holding these companies are not best pleased. I hope they remember this when it comes to the forthcoming vote, and whether to vote for or against it.

[taylor20] 04/11/2023 15:14

My understanding is if opting for the cash option you will get NAV per share - 1.5%.

So for example based on NAV on 03/11/2023 of £2.5647/share you will get 14.75p dividend (reducing NAV to £2.4172). You will then get a distribution of £2.381 per share.

If going for the SHRS share option you will get the divi of 14.75p then £2.4172 used to buy SHRS shares based on 1.008 * NAV, again based on most recent NAV of £2.3919 price per share will be £2.411.

So if you hold 1000 shares:

You would receive £147.50 dividend.
Cash option would receive: £2380.94
Share Option would receive (2417.20 / 2.411) 1002 SHRS shares, currently worth £2195.60

Obviously discount to NAV may change between now and the offer completing, but does not seem to be worth doing the share option, or maybe I'm missing something!

[beaverfish] 04/11/2023 10:58

hi,can anybody help?if i take the cash offer will it be the nav value or will it be the share price value approx ? or will it be nav/share value minus the dividend 14.75p ???
Or if I elect to do nothing,will my 5800 shares roll over into "Shires"and still be
worth approx what they are now
thanks in advance

[sutherlh] 27/10/2023 11:40

I have voted to take the cash with 1.5% reduction rather than go for Shire shares due to the large discount from NAV. H

[citytilidie] 14/9/2023 07:38

Since this alleged merger was announced, Shires average discount has gone from 2% to 15% and has decimated shareholder value. I hope institutions see sense and vote against the merger, as Aberdeen Fund Managers have shown just how unprofessional they really are by merging an underperforming ASCI with a well run Shires just to save management fees, and also save face of the performance of the ASCI fund managers.

[davebowler] 29/8/2023 09:17

24/8 NAV abrdn Smaller Companies Income Trust Plc Undiluted Including Income 270.59p

[davebowler] 26/7/2023 17:31

hTTps://citywire.com/investment-trust-insider/news/abrdn-smaller-cos-hammers-out-merger-with-shires-income/

[mozy123] 26/7/2023 09:29

There we go! Shires or cash!

[mozy123] 25/7/2023 12:57

Discount widening - people seem fed up waiting.

[essentialinvestor] 21/7/2023 13:33

IF the outcome of the strategic review is for ASCI to continue (in it's current
form_ we may be looking at a NAV discount moving to 20-25% type range?.

That would be the ugly outcome. Trust wind up near NAV gives 13-14% upside,
all else being equal.

[brwo349] 20/7/2023 23:25

lol I know these things can take time but this is just ridiculous. Glad I passed on this. I don't think they know their @rse from their elbow.

[mozy123] 09/6/2023 10:38

How long does it take to conclude the trust is too small?

[peakyblinderssss] 20/4/2023 14:08

What's a good clean energy smallcap to get into?

[mozy123] 20/4/2023 14:01

Is there any indication when the strategic review will be concluded? Are we talking weeks, months yet?

[davebowler] 02/3/2023 12:03

Shares in abrdn Smaller Cos surged 17% to 288.00p each in London on Monday morning, while daily pricing figures on its website estimated NAV per share including income to be 303.50p.

The Edinburgh-based investor focusing on UK small-cap stocks said its have shares have continued to trade at "a material discount to their NAV for a prolonged period of time".

"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," the company's board said in a statement yesterday.

The company stressed it still believed it remained in a position to generate returns for shareholders. The strategic review will include considering combining its assets with another investment trust, potentially alongside a cash exit. Investors will hear about the board's plans in due course, it said.

An investment trust is said to be trading at a discount when its shares trade below the value of its investment holdings, which could in certain circumstances be seen as bargain territory. When the opposite occurs, it trades at a premium, making the trust expensive.

In certain circumstances, a prolonged discount can be a sign of difficulty, and may be offputting to buyers looking to incorporate investment trusts into their wider portfolios.

By Greg Rosenvinge, Alliance News reporter, with additional commentary from Ollie Smith, UK editor, Morningstar

[topvest] 14/2/2023 16:26

It seems that Shires Income (which I also hold) approached for a merger, but the board didn't fancy it...reading between the lines of the Shires Income RNS.

[dlp6666] 13/2/2023 11:53

Is it still worth 'taking a punt' on ASCI, given that the discount seems to have come in by c.13% this morning (so perhaps only a 6% uplift to NAV available on wind-up)?

Or better to wait until things presumably 'settle back down' (the strategic review may be prolonged and not be so advantageous)?