SHIRES INCOME

96.4% of Shires Income shareholders approved a restructuring plan under which 37,996,235 ordinary shares will be reclassified into new Aberdeen Equity Income (AEI) shares, while 1,415,464 ordinary shares (3.6%) will receive cash compensation. Implementation remains subject to approval at a second general meeting on 17 March; the exchange ratio and the formula-based net asset values per share will be set on 12 March. Shires Income declared a final dividend of 10p per share (16.85p in total for the year), will repay £9m of debt and transfer £10m of liabilities to AEI. Trading in the reclassified shares is to be suspended on 17 March, with the new AEI shares expected to commence trading on 18 March. » More on de.investing.com

Aberdeen Equity Income Trust plc (AEI) will acquire Shires Income via voluntary liquidation and create an enlarged investment company with a net asset value of £300–331 million. Shires shareholders can choose new AEI shares or a cash alternative (subject to a 2% discount, capped at 25% of the volume); the merger requires approval by both sets of shareholders. AEI will retain its fee structure, cap ongoing charges at a maximum of 0.78% and broaden its investment policy to include investment‑grade bonds, preference shares and selective overseas equities; for the year ending 30 Sept. 2026 a dividend of at least 23.1 pence per share is envisaged. Simon White of Shires is expected to join the AEI board after completion; the general meeting is scheduled for 9 March 2026 and the new shares are planned to be admitted on 18 March 2026. » More on de.investing.com