ABRDN GLOBAL INCOME FUND, INC. (FCO) ANNOUNCES RECORD DATE FOR SHAREHOLDER MEETING TO VOTE ON PROPOSED MERGER INTO ABRDN ASIA-PACIFIC INCOME FUND, INC. (FAX)

Rhea-AI Summary

abrdn Global Income Fund (NYSE American: FCO) set a record date of December 12, 2025 for a shareholder vote on a proposed reorganization into abrdn Asia-Pacific Income Fund (NYSE American: FAX). A special meeting is currently targeted for March 12, 2026. The Proxy Statement was filed with the SEC on September 17, 2025 but was delayed by a federal government shutdown and will be mailed after the SEC declares it effective.

The funds' boards state the Reorganization is intended to be a tax-free reorganization for U.S. federal income tax purposes and, if approved, is expected to close in the second quarter of 2026. FAX shareholders are not required to vote.

Positive

• Reorganization intended as a tax-free U.S. federal reorganization
• Targeted close in Q2 2026
• Both funds' boards deem the Reorganization in shareholders' best interest

Negative

• Proxy Statement not yet declared effective by the SEC
• Proxy issuance delayed by federal government shutdown
• Closing contingent on SEC effectiveness and shareholder approval

Key Figures

FCO record date December 12, 2025 FCO shareholders entitled to vote on proposed reorganization into FAX

FCO meeting date March 12, 2026 Target date for special shareholder meeting on the Reorganization

Proxy filing date September 17, 2025 Proxy statement/registration statement filed with the SEC for the Reorganization

Expected closing window Second quarter of 2026 If approved, Reorganization intended to close in this period

Market Reality Check

$15.21 Last Close

Volume Volume 228,700 is at 1.19x the 20-day average, showing slightly elevated trading interest before the merger vote. normal

Technical Shares at 15.30 are trading below the 200-day MA of 15.77 and about 9.47% under the 52-week high.

Peers on Argus

FAX slipped 0.33% while peers showed mixed moves: PDT (-0.48%), BOE (-0.34%), TBLD (+0.25%), THQ (+0.59%), suggesting a stock-specific response to the merger-related update rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Oct 28	Merger process update	Neutral	-1.2%	Update on SEC proxy review delays from government shutdown.
Sep 11	Merger announcement	Neutral	+0.4%	Initial proposal for FCO to merge into FAX as tax-free reorganization.

Pattern Detected

Recent merger-related disclosures for FAX/FCO have produced modest price reactions, suggesting limited volatility around these process updates.

Recent Company History

Over recent months, FAX has been tied to the proposed merger with FCO. On Sep 11, 2025, the merger and tax-free structure were announced, with a small positive move. On Oct 28, 2025, an update highlighted SEC review delays caused by the federal government shutdown, prompting a modest decline. Today’s record-date announcement continues the same reorganization process toward a targeted closing in the second quarter of 2026.

Market Pulse Summary

This announcement advances the proposed reorganization of FCO into FAX by setting a December 12, 2025 record date and targeting a March 12, 2026 vote. The Proxy Statement, filed on September 17, 2025, still awaits SEC effectiveness before mailing. The Reorganization is intended as a tax-free transaction with no change to FAX’s objectives. Investors may watch SEC effectiveness timing and the planned closing window in the second quarter of 2026.

Key Terms

record date financial

"announces the record date for the shareholder meeting to consider the proposed"

The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.

proxy statement regulatory

"A proxy statement/registration statement (the "Proxy Statement") relating to the"

A proxy statement is a document companies send to shareholders ahead of a meeting that lays out the items up for a vote—like who will sit on the board, executive pay, and major corporate decisions—and provides background so shareholders can decide how to cast their votes or appoint someone to vote for them. Think of it as an agenda plus a ballot and briefing notes, important because the outcomes can change control, strategy, and value.

registration statement regulatory

"A proxy statement/registration statement (the "Proxy Statement") relating to the"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

u.s. securities and exchange commission regulatory

"Proxy Statement was filed with the U.S. Securities and Exchange Commission (the "SEC")"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

AI-generated analysis. Not financial advice.

PHILADELPHIA, Dec. 12, 2025 /PRNewswire/ -- abrdn Global Income Fund, Inc. (NYSE American: FCO) announces the record date for the shareholder meeting to consider the proposed reorganization into abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) (the "Reorganization"). FCO shareholders of record as of December 12, 2025, will be asked to vote on the Reorganization at a special shareholder meeting currently targeted for March 12, 2026.

A proxy statement/registration statement (the "Proxy Statement") relating to the proposed Reorganization was filed with the U.S. Securities and Exchange Commission (the "SEC") on September 17, 2025. Issuance of the Proxy Statement was delayed due to the federal government shutdown.  With the resumption of operations at the SEC, the Proxy Statement will be mailed to shareholders of record after being declared effective by the SEC.

The current investment objectives and policies of FAX will remain the same under the proposed Reorganization. Individually, each Fund's Board believes that the Reorganization is in the best interest of their Fund's shareholders. The Reorganization is intended to be treated as a tax-free reorganization for U.S. federal income tax purposes and, if approved, close in the second quarter of 2026.

Additional information regarding the Reorganization will be presented in the Proxy Statement. 

Shareholders of FAX are not required to vote on the Reorganization.

The Proxy Statement has yet to be declared effective by the SEC, and it may be amended or withdrawn. The Proxy Statement will not be distributed to FCO shareholders unless and until a Registration Statement comprised of the Proxy Statement is declared effective by the SEC.

About Aberdeen Investments

Aberdeen Investments Global is the trade name of Aberdeen's investments business, herein referred to as "Aberdeen Investments" or "Aberdeen". In the United States, Aberdeen Investments refers to the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

Aberdeen Investments is one of the world's largest asset management firms with extensive experience in managing closed-end funds dating back to the 1980s. As of September 30, 2025, Aberdeen Investments had approximately $515 billion in assets under management. Moreover, closed-end funds are an important element of Aberdeen Investments' client base in the U.S. and globally, managing 15 U.S. closed-end funds and 13 non-U.S. closed-end funds, totaling $26.1 billion in assets as of September 30, 2025.

Important Information

The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

In connection with the proposed combination, the Acquired Fund and the Acquiring Fund plan to file with the SEC a combined prospectus/proxy statement. When the prospectus/proxy statement becomes available, shareholders are advised to read it because it will contain important information about the proposed transaction and related matters. The prospectus/proxy statement, when available, will be available for free at the SEC's website www.sec.gov.

Closed-end funds are traded on the secondary market through one of the stock exchanges. A Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance does not guarantee future results.

The value at which a closed-end fund stock trades on a stock exchange is a function of external market factors that are not under the control of the Fund's Board or Investment Advisor. Closed-end Fund shares may therefore trade at a premium or a discount to net asset value at any given time. Shareholders should be aware that a fund trading at a premium to net asset value may not be sustainable, and a fund's discount to net asset value can widen as well as narrow. Shareholders of a fund trading at a premium who participate in that fund's dividend reinvestment plan should note the reinvestment of distributions may occur at a premium to net asset value.

Closed end funds | Aberdeen

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SOURCE Aberdeen Investments U.S. Closed End Funds

FAQ

What is the record date for FCO shareholders to vote on the proposed merger into FAX?

The record date is December 12, 2025 for FCO shareholders of record.

When is the special shareholder meeting to vote on the FCO into FAX reorganization?

The special meeting is currently targeted for March 12, 2026.

Has the Proxy Statement for FCO into FAX been declared effective by the SEC?

No; the Proxy Statement was filed on September 17, 2025 but has not yet been declared effective by the SEC.

Will the FCO into FAX reorganization be taxable for U.S. shareholders?

The Reorganization is intended to be treated as a tax-free reorganization for U.S. federal income tax purposes if approved.

When is the proposed FCO into FAX reorganization expected to close?

If approved and the Proxy is declared effective, the transaction is expected to close in second quarter 2026.

Do FAX shareholders need to vote on the proposed reorganization with FCO?

No; FAX shareholders are not required to vote on the proposed Reorganization.