First Trust delays special meeting on merging with abrdn Total Dynamic Dividend Fund

First Trust Advisors L.P. (“FTA”) has announced that the special shareholder meeting of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) (the “Fund”), initially convened on April 18, 2024, has been adjourned. This decision allows for further solicitation of shareholders and grants them additional time to cast their votes regarding the proposed reorganization of the Fund with abrdn Total Dynamic Dividend Fund (“AOD”). The reconvening of the special shareholder meeting is scheduled for Thursday, May 30, 2024, at 1:00 Central time, to be held at FTA’s offices located at 120 East Liberty Drive, Suite 400, Wheaton, Illinois (the “Meeting”).

Shareholders who were recorded as of the close of business on October 23, 2023, are eligible to vote at the Meeting. It is crucial for shareholders, regardless of their attendance plans, to ensure their shares are represented and voted at the Meeting. Shareholders can exercise their voting rights through methods outlined in the previously distributed proxy materials, inclusive of a combined proxy statement and prospectus (the “proxy statement”). The proxy statement contains vital information concerning the proposed reorganization, and shareholders are strongly encouraged to review it along with accompanying materials diligently. The proxy statement is accessible at and the Securities and Exchange Commission’s website at For any inquiries regarding the proposals or assistance with voting, shareholders may contact EQ Fund Solutions, LLC at (866) 796-7172. The Fund’s Board of Trustees believes that the reorganization is in the Fund’s best interests and recommends shareholders to vote “FOR” the reorganization.

FTA, a federally registered investment advisor, acts as the investment advisor of the Fund. FTA and its affiliate, First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately held entities offering various investment services. As of March 31, 2024, FTA oversees collective assets under management or supervision totaling approximately $226 billion through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds, and separate managed accounts. FTA supervises the First Trust unit investment trusts, while FTP serves as the sponsor. FTP also distributes mutual fund shares and exchange-traded fund creation units. Both FTA and FTP are headquartered in Wheaton, Illinois.

In the United States, abrdn functions as the marketing name for several affiliated, registered investment advisers, including abrdn Inc., abrdn Investments Limited, abrdn Asia Limited, abrdn Private Equity (Europe) Limited, and abrdn ETFs Advisors LLC.

Additional Information / Forward-Looking Statements

This press release does not constitute an offer to purchase or sell shares of the Fund or AOD, nor does it aim to solicit a proxy from any Fund shareholder. The Fund, its trustees and officers, FTA, abrdn, and certain officers and employees may be considered participants under the Securities and Exchange Commission rules in soliciting proxies from shareholders concerning the matters described above. Information about the Fund’s trustees and officers, FTA and its officers and employees, and other relevant individuals can be found in the proxy statement.

Certain statements made in this news release, not constituting historical facts, are referred to as “forward-looking statements” under U.S. federal securities laws. Actual future results or occurrences may significantly differ from those anticipated in any forward-looking statements due to numerous factors. Generally, words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” and “will” identify forward-looking statements, which are typically not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from FTA’s historical experience and its present expectations or projections. It is advisable not to place undue reliance on forward-looking statements, as they speak only as of the date they are made. FTA, the Fund, and AOD undertake no obligation to publicly update or revise any forward-looking statements.

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