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abrdn Life Sciences Investors (HQL) announced the results of its Annual Meeting of Shareholders held on June 25, 2024. Shareholders approved the election of two Class B Trustees to the Board: Stephen Bird with 84.4% votes for and Jeffrey Bailey with 81.9% votes for. A shareholder proposal regarding annual terms of trustees was opposed, with 55.1% votes against it. As of the April 1, 2024 record date, HQL had 27,350,517 outstanding shares, with 87.84% of them being voted. The meeting achieved a quorum. The fund's investment return and principal value fluctuate, and its shares may trade at a premium or discount to the NAV.
Tekla Life Sciences Investors (NYSE: HQL) has announced a renewal of its share repurchase program, allowing the purchase of up to 12% of outstanding shares for one year until July 14, 2024. This move aims to enhance shareholder value and potentially close the discount between market price and net asset value per share. The repurchase program is at the discretion of Tekla Capital Management LLC and will be periodically reviewed. It aims to increase net asset value per share and liquidity in trading, although no assurance is given regarding specific buyback levels or market price effects.
On February 15, 2023, Tekla Life Sciences Investors (NYSE: HQL) announced a distribution of $0.33 per share, with a record date of February 27, 2023 and payable date set for March 31, 2023. The fund will trade ex-distribution on February 24, 2023. The distribution policy aims to provide quarterly distributions at a rate of 2% of the Fund’s net assets, meaning amounts may vary with asset performance. Shareholders can opt for cash payments instead of shares by notifying their brokers or Computershare Investor Services before March 22, 2023.
On November 15, 2022, Tekla Life Sciences Investors announced a distribution of $0.31 per share. The record date is November 25, 2022, with payment on December 30, 2022. The fund will trade ex-distribution on November 23, 2022. Distributions will be based on 2% of the fund’s net assets, meaning amounts may vary. Shareholders can opt for cash instead of shares by responding through their brokers or via Computershare Investor Services before December 20, 2022. Tekla Life Sciences Investors invests in life sciences companies and is traded on the NYSE.
On August 16, 2022, Tekla Life Sciences Investors (NYSE: HQL) announced a distribution of $0.31 per share, with a record date of August 26, 2022 and a payable date of September 30, 2022. The Fund plans to make quarterly distributions based on 2% of its net assets, meaning amounts may vary based on asset performance. Shareholders will automatically receive new shares unless they elect cash payment. This fund targets investments in public and private life sciences companies.
On May 17, 2022, Tekla Life Sciences Investors (NYSE: HQL) announced a distribution of $0.35 per share, with a record date of May 27, 2022, and a payable date of June 30, 2022. The shares will automatically be issued unless shareholders opt for cash. The valuation for shares will be determined on June 22, 2022, based on the lower of net asset value or market price. Shareholders can elect to receive cash by submitting a request before June 21, 2022. The Fund invests in public and private life sciences companies, managed by Tekla Capital Management based in Boston.
Tekla Life Sciences Investors (NYSE: HQL) has announced the renewal of its share repurchase program, allowing the Fund to buy back up to 12% of its outstanding shares for one year, ending on July 14, 2023. This initiative aims to enhance shareholder value and potentially reduce the discount between the market price and net asset value per share. The repurchase's timing and amount will be at the discretion of Tekla Capital Management LLC, with no guarantees on the effect of these purchases on market prices.
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