ABRDN JAPAN EQUITY FUND, INC. ANNOUNCES AMENDED RECORD AND MEETING DATES FOR THE 2025 ANNUAL AND SPECIAL MEETING OF STOCKHOLDERS

Rhea-AI Summary

abrdn Japan Equity Fund (NYSE: JEQ) has announced amended dates for its 2025 Annual Meeting and Special Meeting of Stockholders, now scheduled for July 25, 2025, in Philadelphia. Stockholders as of June 13, 2025 (Record Date) will vote on the proposed reorganization of JEQ into abrdn Global Infrastructure Income Fund (ASGI). Upon stockholder approval, JEQ will conduct a cash tender offer to purchase up to 50% of outstanding shares at 98% of NAV. The tender offer will take place after the stockholder meetings but before the reorganization with ASGI. A combined prospectus/proxy statement with detailed information will be distributed to stockholders after SEC effectiveness.

Positive

• Cash tender offer for up to 50% of outstanding shares at 98% of NAV provides shareholders with liquidity opportunity
• Reorganization into ASGI could provide shareholders with exposure to global infrastructure assets

Negative

• Tender offer price represents a 2% discount to NAV
• Shareholders who do not participate in tender offer will have their investment strategy changed through the reorganization

PHILADELPHIA, June 3, 2025 /PRNewswire/ -- abrdn Japan Equity Fund, Inc. (NYSE: JEQ) (the "Fund") Board of Directors approved amending the dates of the previously announced Annual Meeting of Stockholders (the "2025 Annual Meeting") and Special Meeting of Stockholders of the Fund the ("Special Meeting") (together with the Annual Meeting, the "Stockholder Meetings"). The Stockholder Meetings will now be held on July 25, 2025, at the offices of abrdn Inc., 1900 Market Street, Suite 200, Philadelphia, PA 19103. All Fund stockholders as of June 13, 2025 ("Record Date") will be eligible to vote. The Fund plans to distribute relevant materials shortly after the Record Date.

At the Special Meeting, stockholders of the Fund will be asked to approve the reorganization of the Fund into abrdn Global Infrastructure Income Fund ("ASGI") (the "Reorganization"). Additional information regarding the proposed Reorganization will be presented in a combined prospectus/proxy statement to be sent to JEQ stockholders (the "Prospectus/Proxy Statement").  Contingent upon the approval of the proposed reorganization by JEQ stockholders, the Fund had previously announced it would undertake a cash tender offer. Pursuant to the offer, the Fund will purchase up to 50% of JEQ's issued and outstanding shares at a price per share to be equal to 98% of the Fund's NAV per share as determined by the Fund on the next business day following the expiration date of the tender offer.  The cash tender offer will commence as soon as practical after the Stockholder Meetings approving the reorganization have occurred and prior to the reorganization with ASGI. Further details and timing will be announced following the Fund's Special Meeting of Stockholders.

The definitive proxy statement (the "Proxy Statement") has yet to be filed with the U.S. Securities and Exchange Commission (the "SEC"). After the Proxy Statement is filed with the SEC, it may be amended or withdrawn. The Proxy Statement will not be distributed to JEQ stockholders unless and until a Registration Statement comprising of the Prospectus/Proxy Statement is declared effective by the SEC.

Important Information

In the United States, Aberdeen Investments is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

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.

When the Prospectus/Proxy statement becomes available, JEQ stockholders 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. 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.

https://www.aberdeeninvestments.com/en-us/investor/investment-solutions/closed-end-funds

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SOURCE abrdn Japan Equity Fund, Inc.

FAQ

When is the abrdn Japan Equity Fund (JEQ) stockholder meeting scheduled for?

The stockholder meetings are scheduled for July 25, 2025, at the offices of abrdn Inc. in Philadelphia, PA.

What is the record date for JEQ's 2025 stockholder meetings?

The record date is June 13, 2025. All Fund stockholders as of this date will be eligible to vote.

What percentage of JEQ shares will be purchased in the tender offer?

The Fund will purchase up to 50% of JEQ's issued and outstanding shares at 98% of the Fund's NAV per share.

What is the proposed reorganization plan for JEQ?

JEQ will be reorganized into abrdn Global Infrastructure Income Fund (ASGI), subject to stockholder approval.

When will the JEQ tender offer commence?

The tender offer will commence after the stockholder meetings approve the reorganization but before the actual reorganization with ASGI takes place.