12th Jan 2026 18:13
(Alliance News) - abrdn European Logistics Income PLC on Monday said it has received a requisition request from its largest shareholder, DL Invest ISR SARL, to convene a general meeting of the company.
The property investor said DL Invest has requisitioned the meeting so shareholders can vote on proposals to change the firm's investment policy and replace the existing investment manager with DL Invest.
DL Invest holds close to 18% of abrdn European's issued share capital.
abrdn European advised shareholders not to take any action at this time, and said a further announcement will be made in due course.
The firm said it continues to progress its shareholder-approved managed wind-down, with the disposal programme nearing its conclusion.
Earlier on Monday, the firm said it had completed the sale of two further assets in France for EUR15.6 million.
Following these sales, abrdn European Logistics Income said it has sold 22 of the original 27 assets, generating aggregate gross sales proceeds of EUR415 million before repayment of associated debt.
A further asset sales agreement has been signed and is expected to be completed in January, it said. The firm is holding a 5% cash deposit from the purchaser.
The property investor said the remaining four assets are currently under offer, subject to due diligence and the anticipated signing of sales agreements. Completions are currently expected before the end of the first quarter, it said.
Back in December, DL Invest called on the property investor to temporarily pause further asset disposals, refrain from taking decisions of an "irreversible nature", and convene a general meeting.
At the time, Poland-based developer DL Invest published an open letter calling for the wind-down's immediate suspension.
In July 2024, abrdn European Logistics Income shareholders voted "overwhelmingly" to adopt the managed wind-down process after "extensive consultation".
However, DL Invest said the decision was made in a different market environment and with a different shareholder base.
"In these circumstances, the continued disposal of assets – at levels which appear unlikely to reflect long-term market value – without providing shareholders with the opportunity to consider alternative strategic options, is inconsistent with UK best practice in corporate governance and with the board's duty to exercise proper care and diligence in the interests of all shareholders," DL Invest said in December.
Shares in abrdn European Logistics Income closed up 1.7% at 27.45 pence on Monday.
By Michael Hennessey, Alliance News reporter
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