#USA #Philadelphia #ASGI #JEQ #abrdn Japan

abrdn Japan Equity Fund, Inc. Updates Stockholders on Meeting Outcomes

On July 25, 2025, abrdn Japan Equity Fund, Inc. (NYSE: JEQ) announced key results from its annual general meeting and a special meeting of stockholders. The most significant outcome was the approval of a reorganization plan that will transfer all assets of the fund into the abrdn Global Infrastructure Income Fund (ASGI), a move aimed at providing better investment opportunities for shareholders.

The special meeting saw an impressive turnout, with over 74.7% of stockholders casting votes. This quorum allowed the fund to present several proposals, including the reorganization agreement, crucial for its strategic shift. A resounding majority of stockholders voted in favor of the proposal, with 10,016,314 votes supporting the reorganization, while 528,477 votes were against it, and 19,050 abstained.

The reorganization hinges on a cash tender offer preceding the asset transfer. This offer allows the fund to purchase up to 50% of its outstanding shares at a price equal to 98% of the fund's net asset value (NAV). The detailed schedule for this tender offer will be communicated to stockholders in August 2025.

Expectations are that the reorganization will be finalized in the fourth quarter of 2025, although this is subject to the completion of the cash tender offer and other customary closing conditions. Following the reorganization, stockholders will receive shares in the ASGI, along with cash for any fractional shares they may hold.

In conjunction with the special meeting, the fund's annual meeting confirmed the election of two Class II directors. Alan Goodson received 12,223,657 votes in favor, while Rose DiMartino garnered 12,211,238 votes. A third proposal regarding Radhika Ajmera’s continuation as a Class I director received similarly strong backing; with 12,207,346 votes supporting her tenure.

This strategic shift aims to position abrdn Japan Equity Fund in a stronger place within the market, allowing for the distribution of common shares of the ASGI to former stockholders from the JEQ fund. As part of the transition, all liabilities held by the JEQ will be assumed by ASGI, signaling a comprehensive plan to enhance portfolio performance and shareholder value.

Investors and stakeholders are encouraged to keep an eye on future communications as more details on the ongoing reorganization are expected to emerge, particularly related to the tender offer and the overall strategy moving forward.

This strategic move into infrastructure investments exemplifies a growing trend among funds to diversify and stabilize returns in uncertain economic climates.

For more detailed information regarding the developments and the implications of these meetings for current and potential investors, please consult the abrdn website or your financial advisor.

This announcement aligns with the ongoing efforts of abrdn Investments to offer more robust and diversified investment options in line with market demands and evolving investment landscapes.