At the same Special Meetings, shareholders are voting with overwhelming support for the proposals, however, due to a lack of quorum,
As explained in the proxy statement, the new investment advisory agreement with abrdn Inc., and the related benefits that will accrue to shareholders, cannot be implemented without approval by shareholders of all four Funds.
Shareholders as of the
BENEFITS OF THE PROPOSAL FOR SHAREHOLDERS:
1. A guaranteed reduction of expense when the transaction is approved and continuing for at least two years thereafter.
2. Significant potential further cost savings.
3. A much larger asset management and fund operations platform that supports future fund growth and success.
4. The expertise of the existing investment management team coupled with abrdn's commitment and expertise in the closed-end fund market.
TO VOTE, shareholders may use the Proxy Card or email with voting link previously provided or may vote in the manner set forth in the Proxy Statement located here: www.OkapiVote.com/TeklaSpecial. Shareholders who require voting assistance should call
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About Tekla
Tekla is an asset manager primarily focused on healthcare investing. Since its inception, Tekla has maintained a singular focus on the asset class. Its expertise comes from a diverse team of individuals, many with advanced degrees in science and business, investing experience and industry experience that help drive investment decisions. For more information, please visit www.teklacap.com.
About abrdn
abrdn is a global investment company that helps clients and customers plan, save and invest for the future. abrdn's purpose is to enable its clients to be better investors. abrdn manages and administers £500bn of assets for clients (as at
Additional Information about the Funds and the transaction
This press release is not intended to, and does not, solicit any proxy from any shareholder of the Funds. The solicitation of proxies to effect the transaction described herein is made by a definitive proxy statement.
The Funds and their trustees and officers, Tekla and its officers and employees, and other persons may be deemed to be participants in the solicitation of proxies with respect to the approval of new investment management contracts described herein. Fund shareholders may obtain more detailed information regarding the direct and indirect interests of a Fund's trustees and officers, Tekla and its officers and employees, and other persons by reading the proxy statement relating to the transaction that has been filed with the
Statements in this press release that are not historical facts are forward-looking statements as defined by
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The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors.
There can be no assurance that any closed-end fund will achieve its investment objective(s). Past performance does not guarantee future results. The net asset value of any closed-end fund will fluctuate with the value of the underlying securities. Historically closed-end funds have often traded at a discount to their net asset value. The distribution rate and income amounts reflect past amounts distributed and may not be indicative of future rates or income amounts. Distribution rates and income amounts can change at any time.
Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your marketing and distribution agent,
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE
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