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GUERNSEY - TwentyFour Income Fund Limited (TFIF) announced Monday that 13,408,436 ordinary shares have been elected for realisation under its 2025 Realisation Opportunity.
The realisation price will be set at a 2% discount to the net asset value (NAV) per ordinary share as of the close of business on Tuesday, October 21, 2025, according to a press release from the Guernsey-based closed-ended investment company.
To meet potential investor demand beyond shares available through the realisation opportunity, TFIF has announced a placing, open offer and offer for subscription. New investors will initially be matched with shares from the realisation pool at the realisation price.
If demand exceeds the supply of shares from the realisation opportunity, the company will issue new ordinary shares at a price representing a 2% premium to the NAV per share as of October 21. Both the realisation price and issue price will be announced on Thursday, October 23.
All investors subscribing under the issue will pay the same "blended" subscription price, determined by the ratio of elected shares at the realisation price to newly issued shares at the issue price.
The company stated it will buy back any elected shares not placed into the market, though it anticipates all elected shares will be placed. Investors acquiring shares in the issue will not be entitled to the dividend declared for the quarter ending September 30, 2025.
The placing is scheduled to close at 12:00 p.m. on October 23, with the subscription price and results of the issue to be announced on October 24. Admission of any new ordinary shares is expected on October 28.
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