AUKT and BIST agree merger

Aberdeen UK Tracker Trust's board has agreed heads of terms with BlackRock Income Strategies Trust and Aberdeen Asset Management on a future merger with BIST to be effected by way of a scheme of reconstruction under section 110 of the Insolvency Act 1986 and a voluntary winding up of the company.

This follows a review by the board of the company's investment mandate, market position and prospects for growth.

The proposals will be subject to approval by the shareholders of both companies in addition to required regulatory and tax approvals.