Issue of Equity

RNS Number : 7763N

TwentyFour Income Fund Limited

11 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.

11 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)

Issue of equity

Further to the announcement of 9 September 2013, the Board of Directors (the "Board") of TwentyFour Income Fund Limited (the "Company" and/or "TFIF") is pleased to announce that the fund raising has been significantly oversubscribed. In order to accommodate current shareholders, the Board, having consulted with the manager, has increased the placing to £30 million.

The placing has closed raising GBP 30 million before costs and expenses through the issue of 28,301,887 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"). Give the oversubscription the Board would be happy to consider further similar issuances subject to the Board believing that there are investments which are appropriate to the Company's investment objective and policy

The New Shares were issued 106 pence per share, a 2 per cent. premium to the NAV as at 6 September 2013.

Admission is expected to become effective, and dealings in the Ordinary Shares commenced at 8:00 a.m. on 17 September 2013.

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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