Company: HQL
Filing Date: 2025-12-08
Form Type: N-CSR
Source: 0001104659-25-119341
Chunk: 24

Company: abrdn Life Sciences Investors
Filing Date: 2025-12-08
Form: N-CSR
Chunk 24
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 30, 2025, the Fund incurred investor relations fees of approximately $98,412. For the fiscal year ended September 30, 2025, Aberdeen did not contribute to the investor relations fees for the Fund because the Fund’s contribution was below 0.05% of the Fund’s average weekly net assets on an annual basis.

4. Investment Transactions Purchases and sales of investment securities (excluding short-term securities) for the fiscal year ended September 30, 2025, were $314,113,473 and $339,321,195, respectively.

| 24 | abrdn Life Sciences Investors |

Notes to Financial Statements (continued) September 30, 2025

5. Capital The Fund is authorized to issue an unlimited number of common shares of beneficial interest at par value $0.01 per common share. As of September 30, 2025, there were 29,598,692 shares of common stock issued and outstanding. The following table shows the shares issued by the Fund as a part of a quarterly distribution to shareholders during the fiscal year ended September 30, 2025.

| Payment Date       | Shares Issued |
| January 10, 2025   |       404,917 |
| March 31, 2025     |       406,100 |
| June 30, 2025      |       398,051 |
| September 30, 2025 |       328,225 |

6. Open Market Repurchase Program

The Board has approved an open market repurchase and discount management policy (the “Program”). The Program allows the Fund to purchase, in the open market, up to 12% of its outstanding common shares in the fiscal year, with the amount and timing of any repurchase determined at the discretion of the Fund's investment adviser. Such purchases may be made opportunistically at certain discounts to NAV per share in the reasonable judgment of management based on historical discount levels and current market conditions. If shares are repurchased, the Fund reports repurchase activity on its website on a monthly basis. For the fiscal year ended September 30, 2025, the Fund did not repurchase any shares through the Program. On a quarterly basis, the Board will receive information on any transactions made pursuant to this policy during the prior quarter. 7. Private Companies and Other Restricted Securities The Fund may invest in private companies and other restricted securities if these securities currently comprise 40% or less of net assets. The value of