Proposed Issue of Equity

RNS Number : 9530F

TwentyFour Income Fund Limited

31 May 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.

31 May 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 GBP40 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 12 noon (London time) on Friday 7 June 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 7 June, published on 11 June. Final pricing will be driven by a book build process. Pricing will be announced with NAV announcement on 11 June. Qualified investors are invited to apply for New Shares by contacting Numis on the contact details below. 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: