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Abrdn China Investment Company Limited (ACIC) ORD GBP0.01

Sell:407.00p Buy:410.00p 0 Change: 1.00p (0.25%)
Market closed Prices as at close on 29 February 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Scheme of Arrangement

Abrdn China Investment Company Limited ORD GBP0.01

Type:
Scheme of Arrangement
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 22 Feb 2024)

The Board of Abrdn China Investment Company Limited is proposing to wind up the company. You can take no action and receive new Fidelity China Special Situations plc shares or elect to receive cash in place of your holding.

 

Option 1 - Rollover into Fidelity China Special Situations plc (DEFAULT). You can rollover your holding into new Fidelity China Special Situations plc (FCSS) shares. If you would like this option you do not need to take any action.

 

Option 2 - Cash option. As an alternative to the FCSS shares, you can instead elect to receive cash in place of all or part of your holding. This is subject to an overall limit of 33% of the shares in issue, so if you elect for cash for more than 33% of your holding you may not get all you ask for.

 

Electing for cash – Act by noon Tuesday 5 March 2024

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:407.00p
Buy:410.00p
Change: 1.00p (0.25%)
Market closed Prices as at close on 29 February 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Scheme of Arrangement

Abrdn China Investment Company Limited ORD GBP0.01

Type:
Scheme of Arrangement
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 22 Feb 2024)

The Board of Abrdn China Investment Company Limited is proposing to wind up the company. You can take no action and receive new Fidelity China Special Situations plc shares or elect to receive cash in place of your holding.

 

Option 1 - Rollover into Fidelity China Special Situations plc (DEFAULT). You can rollover your holding into new Fidelity China Special Situations plc (FCSS) shares. If you would like this option you do not need to take any action.

 

Option 2 - Cash option. As an alternative to the FCSS shares, you can instead elect to receive cash in place of all or part of your holding. This is subject to an overall limit of 33% of the shares in issue, so if you elect for cash for more than 33% of your holding you may not get all you ask for.

 

Electing for cash – Act by noon Tuesday 5 March 2024

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:407.00p
Buy:410.00p
Change: 1.00p (0.25%)
Market closed Prices as at close on 29 February 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Scheme of Arrangement

Abrdn China Investment Company Limited ORD GBP0.01

Type:
Scheme of Arrangement
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 22 Feb 2024)

The Board of Abrdn China Investment Company Limited is proposing to wind up the company. You can take no action and receive new Fidelity China Special Situations plc shares or elect to receive cash in place of your holding.

 

Option 1 - Rollover into Fidelity China Special Situations plc (DEFAULT). You can rollover your holding into new Fidelity China Special Situations plc (FCSS) shares. If you would like this option you do not need to take any action.

 

Option 2 - Cash option. As an alternative to the FCSS shares, you can instead elect to receive cash in place of all or part of your holding. This is subject to an overall limit of 33% of the shares in issue, so if you elect for cash for more than 33% of your holding you may not get all you ask for.

 

Electing for cash – Act by noon Tuesday 5 March 2024

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Objective

To produce long-term capital growth by investing predominantly in Chinese equities.
Security Weight
Tencent Holdings Ltd 10.12%
Kweichow Moutai Co Ltd Class A 7.24%
Alibaba Group Holding Ltd Ordinary Shares 5.12%
PDD Holdings Inc ADR 5.03%
China Merchants Bank Co Ltd Class H 3.22%
AIA Group Ltd 3.05%
Contemporary Amperex Technology Co Ltd Class A 2.61%
NetEase Inc Ordinary Shares 2.48%
Bank Of Ningbo Co Ltd Class A 2.41%
Meituan Class B 2.22%
Sector Weight
Consumer Cyclical 22.98%
Consumer Defensive 15.09%
Financial Services 14.50%
Communication Services 12.60%
Industrials 10.94%
Technology 9.47%
Healthcare 8.70%
Basic Materials 2.79%
Real Estate 2.55%
Country Weight
China 93.20%
Hong Kong 4.92%
Taiwan 1.49%

Fee Structure

The management fee will be the first GBP 150m of market capitalisation being charged at 0.80%, the next GBP 150m being charged at 0.75%. and amounts thereafter being charged at 0.65%. Contract terminable on notice period of six months.

Dividend Policy

The Board has revised the dividend policy to bring distributions in line with the income delivered by the portfolio with the objective of distributing a sufficient proportion of the net income to ensure that the Company retains its investment trust status. In this context, this requires that the Company retains no more than 15% of the income generated by the portfolio in the year. The Board therefore expects that the dividend will be materially lower than has been the case in the past and will vary year on year.

ASSET SPLIT

Total number of holdings: 42.

Trust Manager

Elizabeth Kwik

Manager Bio

Elizabeth Kwik is an Investment Manager on the China/Hong Kong Equities Team at abrdn. Elizabeth joined the company in 2013. Elizabeth graduated with a Bachelor of Science in Economics from the London School of Economics.

Board Of Directors

Helen GreenChairman, Mark Bridgeman, Sarah MacAulay, Eleonore de Rochechouart, Anne Gilding

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.