Shareholders vote for wind-down as abrdn Property Income sells into 'valuation nadir'

18-36 month process

Shareholders in the abrdn Property Income trust have voted to wind down the real estate vehicle and retrieve their capital.

According to the results of the vehicle's general meeting on Tuesday (28 May), 96% of votes cast were in favour of the move, although only 34% of share capital was represented in the ballot. Stephen Bird exits abrdn as Jason Windsor takes interim CEO role Managers of the trust have predicted the realisation of the company's assets is likely to take 18-36 months, with sales predicted on an individual or group basis, rather than as a whole portfolio. Shares will remain tradable in the trust until a further vote takes place to appoint a liquidator and cancel the company's listing. ...