08/11/2022 | 05:48am EDT
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(the “Company”)
(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. LEI 549300CCEV00IH2SU369)
Additional Yield Information and Investment Update
The Board of Directors of TwentyFour Income Fund Limited (the "Company") announces that it has published additional information on the portfolio’s yield in its latest factsheet for the month ending 31 July 2022. This additional data will be published on an ongoing basis. With interest rates having risen sharply and expectations of further rises going forward, the Company has published an additional Forward Yield to Maturity alongside the existing Current Mark-to-Market Yield and the Purchase Yield, to better illustrate the likely returns that the portfolio will generate as rates increase further. The Current Mark-to-Market Yield that the Company has published to date is calculated each month using the prevailing benchmark Sonia rate that the underlying floating rate investments accrue against. Historically, with very low interest rates and an expectation of the Sonia rate remaining low over the investment timeframe of the assets, this was a good indicator of the likely future returns. However, with rates moving higher, using the current Sonia rate is not such an informative indicator of returns. The Forward Yield to Maturity uses the projected forward Sonia curve over the life of the Company’s investments to provide a better indication of likely future returns. So whilst the Current Mark-to-Market yield at the end of July (prior to the Bank of England’s latest 0.5% base rate increase) was calculated at 13.0%, the Forward Yield to Maturity was calculated at 14.9%, to reflect the expectation of further base rate rises, and therefore greater returns for the Company’s floating rate investments. Investment Update
Market conditions in the past three to four months have been characterised by slowing economic conditions and recessionary fears, driven primarily by high levels of inflation which have been exacerbated by the ongoing Russian invasion of Ukraine, which has additionally added much higher levels of volatility to markets. As mentioned above, this has led to Central Banks raising interest rates far more quickly than was expected earlier in the year in at attempt to control the demand side of the inflation equation. Conventionally, the expectation would have been for credit spreads to contract as interest rates rose, but with the uncertainty of the war in Ukraine’s effect on global supply chains, particularly for energy and food, the pace of interest rate rises have led to expectations of a recession, and this has subsequently caused credit spreads to widen across the board rather than tighten. At their peak, they reached levels not seen since the Global Financial Crisis, although have now stabilised and a recovery has begun. However, that leaves risk assets in a position that is rarely seen – with higher credit spreads and higher benchmark rates which are set to rise further, and therefore the opportunity for the Company to lock-in greater returns on current investments, than could have been envisioned. This can already be evidenced in the improvement in the Company’s Purchase Yield which has improved by 1.3% to the end of July 2022 as the Portfolio Manager has added incremental yield, outstripping the 1% rise in base rates over the same timeframe, and will be further boosted by the subsequent 0.5% base rate increase. Fundamental performance in the portfolio remains strong and structures are robust, having been significantly strengthened since 2008 and therefore any impact of a recession is expected to be minimal on the company’s assets, especially given the compensatory higher returns from investment opportunities at wider spreads as well as higher interest rates. The board therefore sees current market conditions as an opportunity for the Portfolio Manager to continue to add value for shareholders at ever more attractive yields. For further information, please contact:
Numis Securities Limited:
Nathan Brown

TwentyFour Income Fund - Additional Yield Information and Investment Update

08/11/2022 | 10:04am EDT
Message :
TwentyFour Select Monthly 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 57985 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission. LEI: 549300P9Q5O2B3RDNF78)
Re: Dividend Announcement
The Directors of TwentyFour Select Monthly Income Fund Limited have declared that a dividend will be payable, in line with the Prospectus, representing the regular monthly targeted dividend for the financial period ending 29 July 2022 as follows:
Ex-Dividend Date             18 August 2022
Record Date                      19 August 2022
Payment Date                   2 September 2022
Dividend per Share          0.50 pence (Sterling)
For further information, please contact:
Numis Securities Limited:
Hugh Jonathan
John Magrath                   +44 (0)20 7015 8900
Alistair Wilson

TwentyFour Select Monthly Income Fund - Dividend Announcement

08/05/2022 | 12:05pm EDT
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TWENTYFOUR SELECT MONTHLY 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 57985 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission. Legal entity identifier: 549300P9Q5O2B3RDNF78)
Issue of Shares
TwentyFour Select Monthly Income Fund Limited (LSE: SMIF) is pleased to announce that, to satisfy market demand and to raise money for investment in accordance with the Company’s investment policy, 1,000,000 new ordinary shares of 1 pence each in the capital of the Company were issued at a price of 79 pence per share (the “New Shares”), raising £790,000.00 (before costs and expenses) under the Block Listing. Following the issue, the Company’s issued share capital will comprise 213,113,518 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. For further information, please contact:
Numis Securities Limited:

TwentyFour Select Monthly Income Fund - Issue of Equity

07/25/2022 | 02:26pm EDT
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THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document or as to the action you should take, you should consult your independent financial adviser authorised under the Financial Services and Markets Act 2000 ("FSMA") without delay. This document comprises a supplementary prospectus relating to TwentyFour Income Fund Limited (the "Company") for the purposes of Article 23 of the UK version of the EU Prospectus Regulation (2017/1129) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018 (as amended and supplemented from time to time (including, but not limited to, by the UK Prospectus Amendment Regulations 2019 and The Financial Services and Markets Act 2000 (Prospectus) Regulations 2019)) (the "UK Prospectus Regulation"), the prospectus regulation rules of the Financial Conduct Authority (the "FCA") (the "Prospectus Regulation Rules") and the Guernsey Prospectus Rules and Guidance, 2021. This Supplementary Prospectus has been approved by the FCA, as the competent authority under the UK Prospectus Regulation. The FCA only approves this Supplementary Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the UK Prospectus Regulation. Accordingly, such approval should not be considered as an endorsement of the issuer, or of the quality of the securities, that are the subject of the Prospectus (as defined below) and this Supplementary Prospectus. Investors should make their own assessment as to the suitability of investing in the Shares. The Company is a registered closed-ended collective investment scheme registered pursuant to the Protection of Investors (Bailiwick of Guernsey) Law, 2020 and the Registered Collective Investment Scheme Rules and Guidance, 2021 issued by the Guernsey Financial Services Commission (the "GFSC"). Neither the GFSC nor the States of Guernsey take any responsibility for the financial soundness of the Company or for the correctness of any of the statements made or opinions expressed with regard to it. TWENTYFOUR INCOME FUND LIMITED
(a non-cellular company limited by shares incorporated in Guernsey under the Companies (Guernsey) Law 2008, as amended (the "Law"), with registered number 56128 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)
Supplementary Prospectus
This Supplementary Prospectus is supplemental to, and should be read in conjunction with, the prospectus of the Company dated 3 March 2022 (the "Prospectus") published in connection with the issue of Ordinary Shares pursuant to a scheme of reconstruction of UK Mortgages Limited and the Placing Programme of up to 150 million Ordinary Shares. Words or expressions defined in the Prospectus have the same meaning when used in this Supplementary Prospectus unless the context requires otherwise. The Company and each of the Directors, whose names appear on page 9 of this Supplementary Prospectus, accept responsibility for the information contained in this Supplementary Prospectus. To the best of the knowledge of the Company and the Directors, the information contained in this Supplementary Prospectus is in accordance with the facts and this Supplementary Prospectus does not omit anything likely to affect the import of such information. In accordance with the Guernsey Prospectus Rules and Guidance, 2021, the Directors have taken all reasonable care to ensure that the facts stated in this document are true and accurate in all material respects, and that there are no other facts the omission of which would make misleading any statement in this document, whether of facts or of opinion. All the Directors accept responsibility accordingly. Each of Numis Securities Limited ("Numis") and BDO LLP ("BDO"), both of which are authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for the Company and for no one else in connection with the matters referred to in the Prospectus and this Supplementary Prospectus, will not regard any other person (whether or not a recipient of the Prospectus or this Supplementary Prospectus) as their respective client in relation to the matters referred to in the Prospectus and this Supplementary Prospectus, and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for advising any such person in connection with such matters. Apart from the responsibilities and liabilities, if any, which may be imposed on either of Numis or BDO by FSMA or the regulatory regime established thereunder, neither Numis nor BDO accepts any responsibility whatsoever for the contents of this Supplementary Prospectus. Each of Numis and BDO accordingly disclaims all and any liability, whether arising in tort or contract or otherwise (save as referred to above), which it might otherwise have in respect of this Supplementary Prospectus. The Shares described in the Prospectus have not been, and will not be, registered under the United States Securities Act of 1933 (as amended) or the securities laws of any states of the United States or under any of the relevant securities laws of Canada, Australia, the Republic of South Africa, Japan or any EEA member state or their respective territories or possessions. Accordingly, the Shares may not (unless an exemption from such legislation or such laws is available) be offered, sold or delivered, directly or indirectly, in or into the United States, Canada, Australia, the Republic of South Africa, Japan or any EEA member state or their respective territories or possessions. The Company is not registered under the United States Investment Company Act of 1940 (as amended) and investors will not be entitled to the benefits of such legislation. This Supplementary Prospectus does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for Shares in any jurisdiction in which such offer or solicitation is unlawful. - 2 -
The distribution of this Supplementary Prospectus in certain jurisdictions may be restricted by law. No action has been taken by the Company, Numis or BDO that would permit an offer of the Shares or possession or distribution of this Supplementary Prospectus or any other offering or publicity material in any jurisdiction where action for that purpose is required, other than in the United Kingdom. Persons into whose possession this Supplementary Prospectus comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. If you are in any doubt about the contents of this Supplementary Prospectus you should consult your accountant, legal or professional adviser or financial adviser. 25 July 2022
PURPOSE OF SUPPLEMENTARY PROSPECTUS
This document constitutes a Supplementary Prospectus required under Prospectus Regulation Rules 3.4.1 and 3.4.2 and is being published to note two significant new factors relating to the information included in the Prospectus. 2022 Annual Report
On 12 July 2022, the Company published its report and audited financial statements for the financial year ended 31 March 2022 (the "2022 Annual Report") which constitutes a significant new factor relating to financial information contained in the Prospectus. A copy of the 2022 Annual Report has been filed with the Financial Conduct Authority and, by virtue of this Supplementary Prospectus, such 2022 Annual Report is partly incorporated in, and forms part of, the Prospectus. Appointment of new Director and successor Chair to the Board
On 11 July 2022, the Board resolved to appoint Bronwyn Curtis OBE as a Director with effect from 12 July 2022. It is expected that Ms. Curtis will succeed Trevor Ash as Chair of the Company when Mr. Ash retires as a Director at the 2022 AGM. This Supplementary Prospectus contains certain information about Ms. Curtis and her appointment which supplements the information about the Directors contained in the Prospectus. In accordance with the Articles, Ms. Curtis will hold office until the 2022 AGM, at which she shall be eligible for election by Shareholders by an Ordinary Resolution. This Supplementary Prospectus is supplemental to the Prospectus and has been approved for publication by the FCA. FINANCIAL INFORMATION RELATING TO THE COMPANY
Annual report for the financial year ended 31 March 2022
The 2022 Annual Report has been drawn up in Sterling and has been prepared in accordance with the Law, International Financial Reporting Standards and the Listing Rules. The Company's auditor, PricewaterhouseCoopers CI LLP, has given an unqualified opinion that the financial statements contained in the 2022 Annual Report give a true and fair view of the financial position of the Company as at 31 March 2022, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards and have been properly prepared in accordance with the requirements of the Law. Any part of the 2022 Annual Report not included in the tables below, and therefore not incorporated by reference, is either not relevant for the investor or is covered elsewhere in the Prospectus, as amended and supplemented by this Supplementary Prospectus. Published 2022 Annual Report
Financial Information
The published 2022 Annual Report, which has been partly incorporated in this document by reference, includes, on the pages specified in the table below, the following information:
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TwentyFour Income Fund : Prospectus Supplement

07/22/2022 | 10:24am EDT
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TWENTYFOUR SELECT MONTHLY 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 57985 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission. Legal entity identifier: 549300P9Q5O2B3RDNF78)
Issue of Shares
TwentyFour Select Monthly Income Fund Limited (LSE: SMIF) is pleased to announce that, to satisfy market demand and to raise money for investment in accordance with the Company’s investment policy, 500,000 new ordinary shares of 1 pence each in the capital of the Company were issued at a price of 76.89 pence per share (the “New Shares”), raising £384,450.00 (before costs and expenses) under the Block Listing. Following the issue, the Company’s issued share capital will comprise 210,463,518 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. For further information, please contact:
Numis Securities Limited:

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Name	Bo Møller
Work History
Title	Founder
Status	Current

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