Ms. Radhika Ajmera reports

ABRDN ASIA-PACIFIC INCOME FUND VCC (FAP) ANNOUNCES OVERWHELMING APPROVAL TO REMOVE 10% CAP FROM ANNUAL REDEMPTION RIGHT COMMENCING IN 2026

Abrdn Asia-Pacific Income Fund VCC has released the results of the annual general and special meeting of shareholders held on March 14, 2025.

The company is pleased to announce that shareholders have approved all resolutions, including amendments to the VCC constitution, including: (a) an annual redemption right eliminating the current 10-per-cent cap, which would allow shareholders to tender for redemption, when the redemption conditions are met, 100 per cent of the company's issued and outstanding shares; and (b) provide the board, Abrdn Canada Ltd. and Abrdn Asia Ltd. the power to terminate and wind up the company.

In light of this approval and the possibility that significant redemptions could result in the company no longer being economically viable, the board may determine, commencing in 2026, following the announcement of an annual redemption, that it is in the best interest of the company and its shareholders to terminate the company. Factors that the board may take into consideration at this time may include the liquidity of the shares and higher share price volatility following a significant redemption. If the board makes such a determination, it has the discretion to terminate the company, subject to providing the required notice by way of a press release and compliance with all relevant laws (including, without limitation, the VCC act). Consequently, if a notice of termination has been provided by way of a press release issued not less than 15 days prior to the redemption date, the annual redemption will not proceed and the company will proceed with a complete liquidation.

The description of the meeting proposals and the shareholders' votes cast for and against each proposal at the meeting are as follows.

1. Election of directors

The number of directors was set at three and the three nominees listed in the management information circular dated Jan. 17, 2025, who stood for election, were elected as directors of the company by an ordinary resolution passed at the meeting as follows.

2. Election of auditor

The firm KPMG LLP, Singapore, was appointed as the auditor of the company and KPMG LLP, Toronto, was appointed as the principal independent registered public accountant of the company for the fiscal year ending Oct. 31, 2025, by an ordinary resolution passed by 14,396,685 (99.49 per cent ) votes for and 73,242 (0.51 per cent) votes withheld.

3. Amendments to the constitution

The proposed amendments to the company's constitution as described in the circular, were adopted by an ordinary resolution passed by 14,009,113 (96.99 per cent) votes for and 434,562 (3.01 per cent) votes against.

Final voting results on all matters voted on at the meeting will be filed on SEDAR+.