REG - abrdn Euro Logistics - Conditional sale and fourth interim dividend

abrdn European Logistics IncomeAnnouncement

Wed 07:00

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RNS Number : 1344D  abrdn European Logistics Income plc  06 May 2026

abrdn European Logistics Income plc
LEI: 213800I9IYIKKNRT3G50

Conditional sale and fourth interim dividend

6 May 2026 - abrdn European Logistics Income plc (the "Company" or "ASLI"),
which is in the process of winding down its portfolio of European logistics
real estate, announces that it has signed a conditional sale agreement ('SPA')
over its warehouse located in Ede, the Netherlands, as part of its
shareholder-approved managed wind-down.

Constructed in 1997 and expanded in 2007, the 39,569 square metre freehold
warehouse is leased to AS Watson (Property Continental Europe) B.V. until 31
July 2033. Within the SPA, the Company has agreed to undertake certain climate
related remedial works at a cost of no more than €0.5 million. Completion is
expected by the end of May 2026, and further details will be released at that
time.

Continued Sales Process

The Company's shareholder-approved managed wind-down is now close to
completion. Following this sale later in May, 26 of the original 27 assets
will have been sold. Proceeds from the sale of the Company's Polish assets are
in the process of being repatriated to the parent company, subject to relevant
tax authority clearances.

The remaining asset is subject to early-stage due diligence as part of the
ongoing sales process. The Board remains hopeful of completing the final sale
and being in a position to place the Company into liquidation in the second
half of this year.

Fourth Interim Dividend and Returns of Capital

The Board has today declared a fourth interim dividend of 2.32 euro cents
(equivalent to 2.0 pence) per Ordinary share in respect of the year ended 31
December 2025, payable in sterling on 11 June 2026 to Ordinary shareholders on
the register on 15 May 2026 (ex-dividend date of 14 May 2026).

Such dividend payments may take the form of either dividend income or
"qualifying interest income" which may be designated as an interest
distribution for UK tax purposes and therefore subject to the interest
streaming regime applicable to investments trusts. Of this interim dividend
declared of 2.0 pence per Ordinary share, 1.86 pence (equivalent to 2.16 euro
cents) is declared as dividend income with 0.14 pence (equivalent to 0.16 euro
cents) treated as qualifying interest income.

The dividend will be paid in sterling to Shareholders on the register. Euro
elections will not be available due to the historic limited take-up and cost
to the Company of offering this option.

Since the commencement of the managed wind-down, approved by Shareholders on
23 July 2024, including the most recently announced B Share scheme
distribution together with this fourth interim dividend, the Company will have
returned to Shareholders 43.0 pence per Ordinary share via the B Share scheme
together with 7.08 pence in the form of interim dividend distributions,
totalling 50.08 pence or c. £206 million.

The Company announced on 24 April 2026 its fifth capital distribution by way
of the Company's B Share scheme with payment for redeemed B Shares scheduled
for 29 May 2026. This fifth B Share distribution substantially depletes the
Company's existing distributable reserve established for the purposes of the B
Share scheme. In order to support a further return of capital to Shareholders,
the Company will seek certain shareholder approvals at the forthcoming AGM.
Further details are set out in the Annual Report and Notice of AGM. This
process, which requires Court approval, will enable a further return of
capital, which is expected to be announced in early Q3.

Whilst the proposed court approval process and subsequent B Share distribution
will substantially exhaust the reserves available for the B Share scheme, the
Company continues to consider the most appropriate mechanism for returning
final sales proceeds to shareholders as it moves into the final stages of the
managed wind-down and towards the anticipated appointment of a liquidator.

The Board and its advisers also continue to engage with DL Invest regarding
its interest in taking over the management of the Company. The Board will
consider any fully developed and appropriately costed proposal only where it
believes there is a clear benefit for Shareholders as a whole and where such
proposal does not prejudice or delay the final stages of the managed wind-down
or the return of capital to Shareholders.

Details of the Company and its remaining property portfolio may be found on
the Company's website at: http://www.eurologisticsincome.co.uk

For further information please contact:

Aberdeen
 
               +44 (0) 20 7156 2382

Ben
Heatley
 

Investec Bank plc
                   +44 (0) 20 7597 4000

David Yovichic

Denis Flanagan

FTI Consulting
                        +44 (0) 20 3727 1000

Dido Laurimore

Richard Gotla

Oliver Parsons

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