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) announced the Special Meeting of Shareholders held April 15, 2026 was adjourned to obtain additional proxies and rescheduled for Wednesday, May 6, 2026 at 11:00 am ET.

Shareholders will vote on a proposed Agreement and Plan of Reorganization between VFL and MFS Municipal Income Trust (NYSE: MFM). The Board of Trustees unanimously recommends voting for the reorganization. Supplemental proxy materials and the proxy statement are available on the SEC website for shareholder review.

AI-generated analysis. Not financial advice.

Positive

• Board unanimously recommends approval of the reorganization
• Special meeting rescheduled to May 6, 2026 to continue vote

Negative

• Special meeting adjourned to solicit additional proxies, indicating insufficient quorum

News Market Reaction – MFM

-0.55%

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-0.55% News Effect

On the day this news was published, MFM declined 0.55%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

PHILADELPHIA, April 15, 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 6, 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 cast 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

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.  

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 December 31, 2025, Aberdeen Investments had approximately $525 billion in assets under management.

abrdn National Municipal Income Fund | Aberdeen

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SOURCE abrdn National Municipal Income Fund

FAQ

What happened at the VFL Special Meeting on April 15, 2026 (NYSE: VFL)?

The Special Meeting was held and adjourned to obtain more votes, with a new date set for May 6, 2026. According to the company, the adjournment was to solicit additional proxies to achieve the requisite quorum for the proposed reorganization vote.

What is the proposed reorganization between VFL and MFM (NYSE: MFM)?

The proposal is an Agreement and Plan of Reorganization to combine abrdn National Municipal Income Fund and MFS Municipal Income Trust. According to the company, shareholders are being asked to vote to approve the plan as described in the joint proxy statement/prospectus.

When will VFL shareholders vote on the reorganization and how does the adjournment affect timing?

Shareholders will reconvene to vote on Wednesday, May 6, 2026 at 11:00 am ET, per the adjournment notice. According to the company, the delay allows more time to solicit proxies to reach the necessary quorum for approval.

Does VFL’s Board recommend voting for the reorganization (NYSE: VFL)?

Yes. The Board of Trustees unanimously recommends that shareholders vote in favor of the reorganization. According to the company, the unanimous recommendation is for approval pursuant to the plan described in the joint proxy statement/prospectus.

Where can VFL and MFM shareholders find the proxy materials for the May 6, 2026 vote?

Proxy statement and supplemental materials are available on the Securities and Exchange Commission website at www.sec.gov. According to the company, shareholders will also receive supplemental proxy materials in the mail with further information about the vote.

What does the adjournment imply for VFL shareholders concerned about share value and NAV?

The adjournment itself delays the vote but does not change fund economics; share trading continues on exchanges. According to the company, closed-end fund share prices may still trade at a premium or discount to NAV while the reorganization process proceeds.