The board of Abrdn European Logistics Income plc (ASLI) has rejected at attempt by 18% shareholder DL Invest Group to end the fund’s current wind-down strategy.

“In July 2024, following extensive consultation, shareholders voted overwhelmingly in favour of adopting a managed wind-down process and the board remains committed to delivering this strategy on behalf of shareholders,” said the fund.

“In recent days, the Board has received feedback from shareholders representing approximately 25% of the share register, all of whom have confirmed their continued support for the Managed Wind-Down.

“At this time, the Board is not aware of any shareholders who are supportive of halting the Managed Wind-Down, other than DL Invest Group, which became a shareholder in October 2025.

“With 20 of the original 27 portfolio assets having been sold, generating aggregate gross sales proceeds of €400 million before repayment of associated debt, the Managed Wind-Down is well progressed and nearing completion.

“Of the seven remaining assets, the Company has already exchanged contracts on three and of the remaining four, three are in exclusivity and at an advanced stage of due diligence. The Board expects all remaining disposals to be finalised during Q1 2026, with capital returned to shareholders shortly thereafter.

“Convening a General Meeting to consider a change in the Company’s investment policy, as proposed by DL Invest Group, would incur costs for all shareholders and divert management attention at a point when the Company is close to concluding the Managed Wind-Down.

“The Board firmly believes that completing the Managed Wind-Down is in the best interests of shareholders as a whole.”

DL Invest Group wrote to other shareholders saying: “We are writing to you in our capacity as the largest shareholder of ASLI, with a holding of approximately 18.0% of the Company’s issued share capital. As you may have already seen, today we sent an open letter to the board of the Company, an action we took following protracted private engagement, including various meetings and correspondence between us and the board over several weeks.

“The purpose of this letter is to present our proposal for a new strategic direction for ASLI and to seek your support in ending the Company’s current wind-down strategy, which we believe will not deliver full value for shareholders and will deny shareholders the opportunity to benefit from future growth opportunities.

“We believe that shareholders would benefit from returning ASLI to a growth trajectory, with the potential to deliver superior long-term value to its shareholders, based on ASLI’s existing portfolio, an enhanced asset management approach and the continued expansion of the portfolio with additional properties.”