ABRDN GLOBAL INCOME FUND, INC. ("FCO") PROVIDES UPDATE ON PROXY/REGISTRATION STATEMENT REVIEW AMID GOVERNMENT SHUTDOWN
abrdn Global Income Fund, Inc. (NYSE American: FCO) and abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) filed a preliminary proxy/registration statement with the SEC on September 17, 2025 proposing a reorganization of FCO into FAX. The Proxy must be declared effective by the SEC before it can be mailed to FCO shareholders for a vote.
Due to the federal government shutdown beginning October 1, 2025, the SEC is operating with limited staff, which has delayed review and the expected effectiveness and mailing of the Proxy, and therefore delayed the anticipated timing of the reorganization if approved. The Proxy may be amended or withdrawn and will not be distributed until declared effective.
abrdn Global Income Fund, Inc. (NYSE American: FCO) e abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) hanno depositato una bozza preliminare di proxy/registrazione alla SEC il 17 settembre 2025 proponendo una riorganizzazione di FCO in FAX. Il Proxy deve essere dichiarato efficace dalla SEC prima di poter essere spedito agli azionisti di FCO per un voto.
A causa dello shutdown federale che inizia il 1 ottobre 2025, la SEC opera con personale limitato, il che ha ritardato la revisione e l'eventuale efficacia e l'invio del Proxy, e quindi ha posticipato i tempi previsti della riorganizzazione se approvata. Il Proxy potrebbe essere modificato o ritirato e non sarà distribuito finché non dichiarato efficace.
abrdn Global Income Fund, Inc. (NYSE American: FCO) y abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) presentaron una declaración preliminar de proxy/registro ante la SEC el 17 de septiembre de 2025 proponiendo una reorganización de FCO en FAX. El Proxy debe ser declarado efectivo por la SEC antes de que pueda enviarse a los accionistas de FCO para votar.
Debido al cierre del gobierno federal que comienza el 1 de octubre de 2025, la SEC opera con personal limitado, lo que ha retrasado la revisión y la efectividad prevista y el envío del Proxy, y, por lo tanto, ha retrasado el cronograma previsto de la reorganización si se aprueba. El Proxy puede enmendarse o retirarse y no se distribuirá hasta que se declare efectivo.
abrdn Global Income Fund, Inc. (NYSE American: FCO) 및 abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX)은 2025년 9월 17일에 SEC에 예비 의결권/등록 명세서를 제출하여 FCO를 FAX로의 재편을 제안했습니다. 위원회가 메일로 발송될 수 있도록 의결권은 SEC에 의해 효력이 인정되어야 합니다.
연방정부 폐쇄가 2025년 10월 1일에 시작되므로 SEC는 직원이 제한되어 있어 심사 및 의결의 효력 발행 및 의결권의 발송이 지연되었고, 따라서 승인될 경우 재편의 예상 시기도 지연되었습니다. 의결권은 수정되거나 철회될 수 있으며, 효력이 인정될 때까지 배포되지 않습니다.
abrdn Global Income Fund, Inc. (NYSE American: FCO) et abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) ont déposé une déclaration préliminaire de proxy/enregistrement auprès de la SEC le 17 septembre 2025 proposant une réorganisation de FCO en FAX. Le Proxy doit être déclaré efficace par la SEC avant qu’il puisse être envoyé aux actionnaires de FCO pour un vote.
En raison de la fermeture du gouvernement fédéral à partir du 1er octobre 2025, la SEC fonctionne avec un personnel limité, ce qui a retardé l’examen et l’efficacité attendue et l’envoi du Proxy, retardant donc le calendrier prévu de la réorganisation si elle est approuvée. Le Proxy peut être modifié ou retiré et ne sera pas distribué tant qu’il n’aura pas été déclaré efficace.
abrdn Global Income Fund, Inc. (NYSE American: FCO) und abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) haben am 17. September 2025 eine vorläufige Proxy-/Registrierungsunterlage bei der SEC eingereicht, die eine Umstrukturierung von FCO in FAX vorschlägt. Der Proxy muss von der SEC als wirksam erklärt werden, bevor er an die Aktionäre von FCO zur Abstimmung versandt werden kann.
Aufgrund des Regierungsstillstands, der am 1. Oktober 2025 beginnt, arbeitet die SEC mit reduziertem Personal, was die Prüfung und die erwartete Wirksamkeit und Versendung des Proxys verzögert hat und daher den voraussichtlichen Zeitplan der Umstrukturierung verzögert, falls sie genehmigt wird. Der Proxy kann geändert oder widerrufen werden und wird nicht verteilt, bis er wirksam erklärt wird.
abrdn Global Income Fund, Inc. (NYSE American: FCO) و abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) قدما بيان بروكسي/تسجيل أولي لدى SEC في 17 سبتمبر 2025 يقترح إعادة تنظيم FCO إلى FAX. يجب إعلان البروكسي فعالاً من قبل SEC قبل أن يتم إرساله إلى مساهمي FCO للتصويت.
بسبب إغلاق الحكومة الفيدرالية الذي يبدأ في 1 أكتوبر 2025، تعمل SEC بموظفين محدودين، مما أدى إلى تأخير المراجعة والفعالية المتوقعة وخط سير البروكسي وإرساله، وبالتالي تأخير الجدول الزمني المتوقع لإعادة التنظيم إذا تمت الموافقة. قد يتم تعديل البروكسي أو سحبها ولن يتم توزيعها حتى يُعلن أنها فعالة.
abrdn Global Income Fund, Inc. (NYSE American: FCO) 和 abrdn Asia-Pacific Income Fund, Inc. (NYSE American: FAX) 已于 2025年9月17日 向美国证券交易委员会提交初步代理/注册声明，提议将 FCO 重组为 FAX。代理书须经美国证券交易委员会宣布有效后，方可寄送给 FCO 股东进行投票。
由于联邦政府在 2025年10月1日 开始的停摆，SEC 的人员有限，导致审查、预期的生效和代理书的寄送延迟，因此如果得到批准，重组的预期时间表也将延迟。代理书可以修订或撤回，在宣布有效前不会分发。
- Preliminary Proxy filed with the SEC on September 17, 2025
- Reorganization proposal established a clear shareholder vote path if Proxy is declared effective
- SEC review delayed due to federal government shutdown beginning October 1, 2025
- Effectiveness and mailing of the Proxy to FCO shareholders is delayed
- Proxy may be amended or withdrawn, creating outcome uncertainty for shareholders
Insights
Regulatory staffing delays have pushed the timeline for the proposed reorganization of FCO into FAX, creating schedule risk but no stated change to terms.
The reorganization depends on the SEC declaring the proxy/registration statement effective; that declaration triggers distribution of the proxy and shareholder consideration. The filing was submitted on
Key risks center on timing, not deal substance: a prolonged shutdown can push the effective-date and delay the vote and any subsequent transfer of assets or corporate actions. There is no statement that the Proxy’s content or the proposed transaction terms changed, and the Proxy may still be amended or withdrawn.
Watch for three concrete signals: the SEC declaring the Proxy effective, any announced amendments to the Proxy, and formal mailing of proxy materials to shareholders. Expect updates on these items over the coming weeks while the shutdown persists; if no SEC action resumes within a month, anticipate further calendar slips.
Due to the federal government shutdown that began on October 1, 2025, we have been advised that the SEC is operating with limited staff and resources. This has impacted on the timing of its review process and the ability to declare filings effective. As a result, the effectiveness and mailing of the Proxy to FCO shareholders has been delayed, along with the anticipated timing of the reorganization, if approved. We are actively monitoring developments and will provide further updates as they become available. The Proxy filed with the SEC may be amended or withdrawn. The Proxy will not be distributed to shareholders of FCO unless and until it is declared effective by the SEC.
Important Information
In
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, FCO and FAX filed a preliminary Proxy with the SEC. When the Proxy is effective and available, shareholders are advised to read it because it will contain important information about the proposed transaction and related matters. The Proxy, when available, will be accessible 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 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 may trade on a public exchange is a function of external market factors that are not at 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.
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SOURCE Aberdeen Investments
FAQ
What is the proposed reorganization between FCO and FAX and when was the Proxy filed?
How does the October 1, 2025 government shutdown affect the FCO (FAX) Proxy timeline?
Will FCO shareholders receive the Proxy while the SEC review is delayed?
Can the Proxy for the FCO into FAX reorganization be changed or withdrawn?
Where can investors find the Proxy once it becomes effective for the FCO/FAX reorganization?
