Tekla Funds Urge Shareholders to Vote Immediately to Guarantee Reduced Fund Expenses
October 05 2023 - 2:05PM
Business Wire
Tekla Life Sciences Investors (HQL) announced at the Joint
Special Meetings of shareholders (“Special Meetings”) that the
requisite vote had been reached to approve the new investment
advisory agreement with abrdn Inc.
At the same Special Meetings, shareholders are voting with
overwhelming support for the proposals, however, due to a lack of
quorum, Tekla Healthcare Investors (HQH), Tekla Healthcare
Opportunities Fund (THQ) and Tekla World Healthcare Fund (THW) (the
“Funds”) announced that their Special Meetings were adjourned once again until October 13, 2023 (HQH) and
October 25, 2023 (THQ and THW), both at 9:00 a.m. EDT.
As explained in the proxy statement, the new investment advisory
agreement with abrdn Inc., and the related benefits that will
accrue to shareholders, cannot be implemented without approval by
shareholders of all four Funds.
Shareholders as of the June 16, 2023 record date who have not
yet voted on the Proposal are urged to do so promptly per the
instructions below. EVEN IF SHAREHOLDERS SIMPLY CAST AN ABSTAIN
VOTE, IT WOULD BE A GREAT HELP TO REACHING THE NECESSARY
QUORUM.
BENEFITS OF THE PROPOSAL FOR
SHAREHOLDERS:
- A guaranteed reduction of expense when the transaction is
approved and continuing for at least two years thereafter.
- Significant potential further cost savings.
- A much larger asset management and fund operations platform
that supports future fund growth and success.
- The expertise of the existing investment management team
coupled with abrdn’s commitment and expertise in the closed-end
fund market.
TO VOTE, shareholders may
use the Proxy Card or email with voting link previously provided or
may vote in the manner set forth in the Proxy Statement located
here: www.OkapiVote.com/TeklaSpecial. Shareholders who require
voting assistance should call Okapi Partners, the Funds’ proxy
solicitor, toll-free at (877) 285-5990. Representatives are
available Monday - Friday 9:00am to 10:00pm (EDT).
About Tekla
Tekla is an asset manager primarily focused on healthcare
investing. Since its inception, Tekla has maintained a singular
focus on the asset class. Its expertise comes from a diverse team
of individuals, many with advanced degrees in science and business,
investing experience and industry experience that help drive
investment decisions. For more information, please visit
www.teklacap.com.
About abrdn
abrdn is a global investment company that helps clients and
customers plan, save and invest for the future. abrdn’s purpose is
to enable its clients to be better investors. abrdn manages and
administers £500bn of assets for clients (as at 31 December 2022).
abrdn is structured around three businesses – Investments, Adviser
and Personal – focused on their changing needs. The capabilities in
abrdn’s Investments business are built on the strength of its
insight – generated from wide-ranging research, worldwide
investment expertise and local market knowledge. abrdn’s teams
collaborate across regions, asset classes and specialisms,
connecting diverse perspectives and working with clients to
identify investment opportunities that suit their needs. As at 31
December 2022, abrdn’s Investments business manages £376bn on
behalf of clients - including insurance companies, sovereign wealth
funds, independent wealth managers, pension funds, platforms, banks
and family offices. For more information, please visit
www.abrdn.com.
Additional Information about the Funds and
the transaction
This press release is not intended to, and does not, solicit any
proxy from any shareholder of the Funds. The solicitation of
proxies to effect the transaction described herein is made by a
definitive proxy statement.
The Funds and their trustees and officers, Tekla and its
officers and employees, and other persons may be deemed to be
participants in the solicitation of proxies with respect to the
approval of new investment management contracts described herein.
Fund shareholders may obtain more detailed information regarding
the direct and indirect interests of a Fund’s trustees and
officers, Tekla and its officers and employees, and other persons
by reading the proxy statement relating to the transaction that has
been filed with the Securities and Exchange Commission. Fund
shareholders should read the proxy statement because it contains
important information. The proxy statement is available for free at
the Securities and Exchange Commission’s website (www.sec.gov).
Statements in this press release that are not historical facts
are forward-looking statements as defined by the United States
securities laws. You should exercise caution in interpreting and
relying on forward-looking statements because they are subject to
uncertainties and other factors that are, in some cases, beyond a
Fund’s control and could cause actual results to differ materially
from those set forth in the forward-looking statements.
© 2023 Tekla Capital Management LLC | All
rights reserved | Legal Disclaimer
The material contained on this website is not intended to be
a recommendation or investment advice, does not constitute a
solicitation to buy or sell securities, and is not provided in a
fiduciary capacity. The information provided does not take into
account the specific objectives or circumstances of any particular
investor, or suggest any specific course of action. Investment
decisions should be made based on an investor’s objectives and
circumstances and in consultation with his or her advisors.
There can be no assurance that any closed-end fund will achieve
its investment objective(s). Past performance does not guarantee
future results. The net asset value of any closed-end fund will
fluctuate with the value of the underlying securities. Historically
closed-end funds have often traded at a discount to their net asset
value. The distribution rate and income amounts reflect past
amounts distributed and may not be indicative of future rates or
income amounts. Distribution rates and income amounts can change at
any time.
Investors should consider the investment objective and
policies, risk considerations, charges and ongoing expenses of an
investment carefully before investing. For more information, please
contact your marketing and distribution agent, Destra Capital
Advisors LLC at 877.855.3434.
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE
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