abrdn seeks to reassure shareholders after AGM pushback

Concerns over shareholder dilution

abrdn has met with a number of shareholders after five resolutions received less than 80% of votes cast in their favour in the firm's 2023 annual general meeting.

Chair Douglas Flint and senior independent director Jonathan Asquith met with shareholders that had voted against the resolutions to understand the rationale behind their decision. The resolutions in question regarded the re-appointment of Catherine Bradley as a director; the issuance of additional shares; the disapplication of share pre-emption rights; authorising the company to buy back up to 14.99% of its issued ordinary shares; and the allotment of shares to issue convertible bonds. Regarding the issuance of further shares, the disapplication of share pre-emption rights and the is...