Company Announcements

PHILADELPHIA , June 3, 2025 /PRNewswire/ -- abrdn Japan Equity Fund, Inc. (NYSE: JEQ) (the "Fund") Board of Directors approved amending the dates of the previously announced Annual Meeting of Stockholders (the "2025 Annual Meeting") and Special Meeting of Stockholders of the Fund the ("Special Meeting") (together with the Annual Meeting, the "Stockholder Meetings"). The Stockholder Meetings will now be held on July 25, 2025, at the offices of abrdn Inc., 1900 Market Street, Suite 200, Philadelphia, PA 19103. All Fund stockholders as of June 13, 2025 ("Record Date") will be eligible to vote. The Fund plans to distribute relevant materials shortly after the Record Date.

At the Special Meeting, stockholders of the Fund will be asked to approve the reorganization of the Fund into abrdn Global Infrastructure Income Fund ("ASGI") (the "Reorganization"). Additional information regarding the proposed Reorganization will be presented in a combined prospectus/proxy statement to be sent to JEQ stockholders (the "Prospectus/Proxy Statement").  Contingent upon the approval of the proposed reorganization by JEQ stockholders, the Fund had previously announced it would undertake a cash tender offer. Pursuant to the offer, the Fund will purchase up to 50% of JEQ's issued and outstanding shares at a price per share to be equal to 98% of the Fund's NAV per share as determined by the Fund on the next business day following the expiration date of the tender offer.  The cash tender offer will commence as soon as practical after the Stockholder Meetings approving the reorganization have occurred and prior to the reorganization with ASGI. Further details and timing will be announced following the Fund's Special Meeting of Stockholders.

The definitive proxy statement (the "Proxy Statement") has yet to be filed with the U.S. Securities and Exchange Commission (the "SEC"). After the Proxy Statement is filed with the SEC, it may be amended or withdrawn. The Proxy Statement will not be distributed to JEQ stockholders unless and until a Registration Statement comprising of the Prospectus/Proxy Statement is declared effective by the SEC.

Important Information

In the United States, Aberdeen Investments is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

When the Prospectus/Proxy statement becomes available, JEQ stockholders are advised to read it because it will contain important information about the proposed transaction and related matters. The Prospectus/Proxy statement, when available, will be available for free at the SEC's website www.sec.gov.

Closed-end funds are traded on the secondary market through one of the stock exchanges. 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.

https://www.aberdeeninvestments.com/en-us/investor/investment-solutions/closed-end-funds

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SOURCE abrdn Japan Equity Fund, Inc.