Smithson (SSON) shares have been suspended after more than 99% of shareholder votes yesterday approved the liquidation of the £1.5bn investment trust ahead of its conversion to the open-ended Smithson Equity Fund. Turnout was low, however, with just 26.9% of shares in the global small-cap portfolio voted. This was the first of two general meetings with a second scheduled for 27 February.

DL Invest, the 18% shareholder trying to halt the managed wind-down of Abrdn European Logistics Income (ASLI) and become its fund manager, has again written to shareholders appealing for their support in the vote on 20 February. The Polish logistics group says the controlled buyout mechanism it is offering provides shareholders with “a significantly higher degree of certainty and control over their exit”. By contrast, it says the current wind-down by fund manager Aberdeen, which its board insists is too advanced to reverse, has incurred “a material loss of value”  pointing to the recent disposals of two assets in France which were bought for €23m and €9.3m and sold for €15.7m and €7.9m.

Maven Renovar VCT (MRV) is reviewing the results of a shareholder survey on a potential tender offer to let unhappy investors exit at close to asset value and proposed changes to investment policy. The former Amati AIM venture capital trust was hit by a shareholder revolt last year after the board sacked fund manager Amati and appointed Maven Capital Partners. Responses to the survey were received from over 800 shareholders representing about 19% of shares. Proposals may be presented in the coming weeks.

Tufton Assets (SHIP), the £223m, 9%-yielding shipping operator, has bought two Handysize bulkers for $33m at around 85% of their depreciated replacement cost. They are expected to generate a return over SHIP’s 12% annualised target.

Saba Capital has lifted its stake in Impax Environmental Markets (IEM) from 20.7% to 21.4% ahead of a vote on 23 February on the investment trust’s proposed 100% continuation tender offer which it is hoping the activist hedge fund will use to sell its position. That may be unlikely in light of Saba’s announcement yesterday of a third attempt to oust the board of Edinburgh Worldwide (EWI).

Shires Income (SHRS) and Aberdeen Equity Income (AEI) have published circulars detailing the plan announced last month to merge the former with its Aberdeen stablemate. Shareholder meetings will be held on 9 March to approve the combination.

Abrdn Diversified Income and Growth (ADIG) has confirmed it will return £43.7m or 14.5p per share to shareholders via its B-share scheme as part of its wind-down.

Baillie Gifford Japan (BGFD) has appointed Robert Talbut, former chief investment officer of Royal London Asset Management, to its board as a non-executive director. He is currently chair of JPMorgan American (JAM) and senior independent director of Pacific Assets Trust (PAC).