abrdn National Municipal Income Fund (VFL) Announces Adjournment of Special Shareholder Meeting Relating to Proposed Reorganization

Rhea-AI Summary

abrdn National Municipal Income Fund (NYSE: VFL) adjourned its Special Meeting of Shareholders held May 6, 2026, to solicit additional proxies and set a new meeting date for Wednesday, May 27, 2026 at 11:00 am ET. Shareholders will vote on a proposed reorganization into MFS Municipal Income Trust (NYSE: MFM).

The Board of Trustees unanimously recommends shareholders vote for the reorganization. Shareholders will receive supplemental proxy materials by mail; the proxy statement is available on www.sec.gov. The announcement reiterates risks that closed-end fund shares can trade at premiums or discounts to NAV.

Positive

• Board unanimously recommends vote for the reorganization
• New Special Meeting date set for May 27, 2026 at 11:00 am ET
• Proposal is a binding Agreement and Plan of Reorganization between VFL and MFM

Negative

• Special Meeting adjourned to solicit additional proxies to reach quorum
• Share price may trade at a premium or discount to NAV, creating investor risk
• Outcome remains uncertain pending shareholder vote and proxy solicitation

News Market Reaction – MFM

+0.73%

+0.73% Session close to close

In the May 7 session, MFM gained 0.73%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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PHILADELPHIA, May 6, 2026 /PRNewswire/ -- abrdn National Municipal Income Fund (NYSE: VFL) announces that the Special Meeting of Shareholders was held and adjourned today, to allow for the solicitation of additional proxies to achieve the requisite quorum. The Fund has set a new adjournment date for its Special Meeting of Shareholders of Wednesday, May 27, 2026, at 11:00 am Eastern Time.

Shareholders of the Fund are being asked to vote on the proposal to approve an Agreement and Plan of Reorganization between the abrdn National Municipal Income Fund (NYSE: VFL) and MFS Municipal Income Trust (NYSE: MFM).

The Board of Trustees unanimously recommends that you consider casting your vote for the Reorganization of the fund pursuant to the plan of Reorganization as described in the Joint Proxy Statement/Prospectus.

Shareholders are directed to the supplemental proxy materials that they will receive in the mail for further information. The proxy statement, as supplemented to date, is also available on the Securities and Exchange Commission's website, www.sec.gov.

Important Information

Shares of closed-end funds are listed for trading on national securities exchanges and are bought and sold in the secondary market. The market price of a fund's shares is determined by supply and demand and may be greater than (a "premium") or less than (a "discount") the fund's net asset value (NAV). A fund's investment return and principal value will fluctuate, and investors may receive more or less than their original investment upon the sale of shares. There is no assurance that a fund will achieve its investment objective. Past performance is not indicative of future results.

The trading price of a closed-end fund's shares may be influenced by various factors, including market conditions, investor sentiment, and other external forces, and is not directly controlled by the fund, its Board of Directors, or its investment adviser. As a result, shares may trade at a premium to or discount from NAV at any given time. A premium to NAV may not be sustained, and a discount to NAV may increase or decrease over time. Investors should consider these risks when purchasing or selling closed-end fund shares.

Shareholders whose fund shares trade at a premium to NAV and who participate in the fund's dividend reinvestment plan should be aware that distributions may be reinvested at prices above NAV, which may adversely affect investment results.

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 among the world's largest asset managers, with decades of experience overseeing closed-end funds dating back to the 1980s. As of March 31, 2026, the firm had approximately $506 billion in assets under management. Closed-end funds represent a core component of Aberdeen Investments' client franchise in both the U.S. and global markets. Aberdeen and its affiliates currently manage 27 closed-end funds – 15 available in the U.S. and 12 outside the U.S. – totaling $25.6 billion in assets as of March 31, 2026.

abrdn National Municipal Income Fund | Aberdeen

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SOURCE abrdn National Municipal Income Fund

FAQ

Why was abrdn National Municipal Income Fund (VFL) Special Meeting adjourned on May 6, 2026?

The meeting was adjourned to allow solicitation of additional proxies to achieve the requisite quorum. According to the company, the adjournment permits more shareholders time to receive supplemental proxy materials and cast votes ahead of the new May 27, 2026 meeting date.

When is the rescheduled Special Meeting for VFL shareholders to vote on the MFM reorganization?

The rescheduled Special Meeting is set for Wednesday, May 27, 2026 at 11:00 am ET. According to the company, shareholders will receive supplemental proxy materials by mail and the proxy statement is available on www.sec.gov for review before voting.

What are VFL shareholders being asked to approve in the proposed reorganization with MFM?

Shareholders are asked to approve an Agreement and Plan of Reorganization to combine VFL into MFM. According to the company, the Board of Trustees unanimously recommends that shareholders vote in favor of the reorganization pursuant to the joint proxy statement/prospectus.

Where can VFL shareholders find the proxy materials about the May 27, 2026 vote?

Proxy materials, including the supplemented proxy statement/prospectus, will be mailed to shareholders and are available on the SEC website. According to the company, the proxy statement as supplemented to date can be accessed at www.sec.gov for full details.

How might the VFL–MFM reorganization affect trading relative to NAV for shareholders?

Shares of closed-end funds may trade at a premium or discount to NAV, which can affect realized returns. According to the company, trading price is driven by market supply and demand and may result in investors receiving more or less than their original investment.