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12 July 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN OR INTO OR FROM
THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA,
THE REPUBLIC OF IRELAND OR JAPAN.
TwentyFour Income
Fund Limited
Publication of
Circular
The Board of Directors of TwentyFour Income Fund Limited (the
"Company") announces the publication of a circular relating to a
realisation opportunity for Shareholders (the “Circular”) dated 12
July 2019.
The Articles provide for a Realisation Opportunity under which
Shareholders may elect to realise all or part of their holdings of
Ordinary Shares with effect from the 2019 Reorganisation Date and
at three yearly intervals thereafter.
Shareholders have the option to either:
- retain their current investment in the Company; or
- realise their investment in the Company, by making a
Realisation Election, which are intended to be satisfied at the
Redemption Price representing a 2 per cent. discount to NAV per
Ordinary Share as at the Electing NAV Determination Date.
Expected Timetable of Events
| 2019 Realisation
Opportunity |
|
| Record Date |
6:00
p.m. 16 July 2019 |
Election
Submission Deadline, being
the latest time and date for receipt of
the Form of Election and TTE Instructions in CREST from
Shareholders |
1:00
p.m. on 5 September 2019 |
| Number of Elected
Shares announced |
7:00
a.m. on 9 September 2019
|
Election NAV
Determination Date
|
9
September 2019 |
| 2019 Reorganisation
Date |
12
September 2019 |
| Redemption Price and
number of Realisation Shares announced |
13
September 2019 |
| Admission
of any Ordinary Shares that are redesignated as Realisation Shares
pursuant to the Realisation to the Official List and dealings in
the Realisation Shares on the London Stock Exchange’s Main Market
commence |
16
September 2019 |
| Election Settlement
Date: cheques despatched and payments through CREST made and CREST
accounts settled |
week
commencing 16 September 2019 |
Balancing share certificates despatched |
week commencing 23 September 2019 |
Unless otherwise defined, capitalised words and phrases used in
this announcement shall have the meaning given in the
Circular.
For further information, please contact:
TwentyFour Asset Management LLP +44
(0)20 7015 8900
John Magrath
Alistair Wilson
Numis Securities
Limited
+44 (0)20 7260 1000
Nathan Brown
Hugh Jonathan
IMPORTANT NOTICES
This Announcement has been issued for information purposes only,
it is not a prospectus. This Announcement does not constitute
or form part of and may not be construed as an offer to sell, or an
invitation to purchase, investments of any description, nor as a
recommendation regarding the possible offering or the provision of
investment advice by any party. No information in this
announcement should be construed as providing financial, investment
or other professional advice and each prospective investor should
consult its own legal, business, tax and other advisers in
evaluating any investment opportunity. It is issued by and is
the sole responsibility of the Company. No representation or
warranty, express or implied, is or will be made to, or in relation
to, and no responsibility or liability is or will be accepted by
Numis Securities Limited ("Numis") or by any of its affiliates or
agents as to or in relation to, the accuracy or completeness of
this Announcement or any other written or oral information made
available to or publicly available to any interested party or its
advisers, and any liability therefore is expressly disclaimed.
Numis is authorised and regulated by the Financial Conduct
Authority. Numis is acting for the Company as its sponsor, broker
and financial advisor and is not acting for anyone else and will
not be responsible to anyone other than the Company for providing
the protections afforded to its clients nor for providing the
protections afforded to customers of Numis nor providing advice in
relation to the contents of the Supplementary Prospectus or any
matters referred to therein. To the fullest extent permitted by law
recipients agree that Numis shall not have any liability (direct or
indirect) for or in connection with this Announcement or any
matters arising out of or in connection herewith. Numis has not
authorised the contents of, or any part of, this document.
The distribution of this Announcement in certain jurisdictions
may be restricted by law. No action has been taken by the
Company or Numis that would permit an offering of any Ordinary
Shares or possession or distribution of this Announcement or any
other offering or publicity material relating to such Ordinary
Shares in any jurisdiction where action for that purpose is
required. Persons into whose possession this Announcement
comes are required by the Company and Numis to inform themselves
about, and to observe, such restrictions.
The information contained in this Announcement is subject to
change without notice and neither the Company nor Numis assume any
responsibility or obligation to update publicly.
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