Proposed Issue of Equity

RNS Number : 5598N

TwentyFour Income Fund Limited

09 September 2013

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

9 September 2013

TwentyFour Income Fund Limited

(a non-cellular company limited by shares incorporated in the Island of Guernsey under the Companies (Guernsey) Law 2008, as amended, with registered number 56128 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

Proposed Issue of equity

The Board of Directors (the "Board") of TwentyFour Income Fund Limited (the "Company" and/or "TFIF") is pleased to announce that the Company is looking to raise up to GBP20 million before costs and expenses through the issue of new ordinary redeemable shares of 1p each in the capital of the Company (the "New Shares") and the admission of the New Shares to the premium listing segment of the Official List of the UK Listing authority (the "Official List") and to trading on the London Stock Exchange plc's main market for listed securities (the "London Stock Exchange") under the Placing Programme (as described in the Company's Prospectus published on 19 February 2013) to qualified investors (1) through its corporate broker, Numis Securities Limited ("Numis"), (the "Issue").

The Issue is expected to close at 2.00pm (London time) on Wednesday 11 September 2013 but may close later at the absolute discretion of the Company and Numis. The Issue price per New Share will be at a minimum of a 2 per cent. premium to the NAV as at 6 September, published on 10 September. Qualified investors are invited to apply for New Shares by contacting Numis on the contact details below. Indications of interest in GBP10 million have already been received from current shareholders.   The decision to allot New Shares to any qualified investor shall be at the absolute discretion of the Company and Numis.

The Company will make a further announcement of the results of the Issue when it has completed.

(1) As defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended).

For further information, please contact:

Numis Securities Limited:

Chris Gook (sales)                                                 [phone]

Nathan Brown / Hugh Jonathan (Corporate)               [phone]

TwentyFour Income Fund Limited:

John Magrath                                                       [phone]

Alistair Wilson

 

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