Result of Annual General Meeting

 

TwentyFour Select Monthly Income Fund Limited

(a closed-ended investment company incorporated in Guernsey with registration number 57985)

LEI Number: 549300P9Q5O2B3RDNF78

 

8 September 2026

 

RESULT OF ANNUAL GENERAL MEETING

The Directors of TwentyFour Select Monthly Income Fund Limited (the " Company "), the listed, closed-ended investment company that invests in a diversified portfolio of credit securities, announces that, at the Annual General Meeting of the Company held today , all resolutions set out in the Annual General Meeting Notice dated 11 August 2026, were duly passed.

Proxy appointments were received representing approximately 8.92% of the Company's issued share capital. Details of the proxy voting results in respect of the resolutions proposed at the Annual General Meeting, which should be read in conjunction with the Notice of Annual General Meeting dated 11 August 2026, are set out below:

Ordinary Resolution	For	Discretion (voted in favour)	Against	Votes Withheld
1	32,536,105	0	264,166	204,443
2	32,483,841	0	300,855	220,018
3	31,568,205	0	1,055,339	381,170
4	31,859,002	0	818,144	327,568
5	30,829,643	0	1,686,138	488,933
6	31,904,793	0	610,988	488,933
7	30,780,782	0	1,734,999	488,933
8	30,218,421	0	2,291,525	494,768
9	31,289,641	0	1,152,739	562,334
10	31,149,759	0	1,485,023	369,932
11	30,845,244	0	1,758,759	400,711
12	31,444,273	0	1,223,007	337,434
Special Resolution	For	Discretion (voted in favour)	Against	Votes Withheld
13	31,856,949	0	783,953	363,812
14	32,045,834	15,000	468,719	475,161
Extraordinary Resolution	For	Discretion (voted in favour)	Against	Votes Withheld
15	31,194,622	0	1,479,507	330,585
16	31,085,545	0	1,597,570	321,599

 

Note - A vote withheld is not a vote in law and has not been counted in the votes for and against a resolution.  

The resolutions outside of ordinary business were as follows:

Ordinary Resolution 10

THAT , the Directors, in substitution for all existing authorities, be and are generally and unconditionally authorised to allot and issue, grant rights to subscribe for, or to convert securities into, up to a maximum aggregate amount of 36,385,603 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") (being 10 per cent. of the Company's Ordinary Shares in issue as at the latest practicable date prior to the date of publication of this document) for the period expiring on the date falling fifteen months after the date of passing of this resolution 10 or the conclusion of the next annual general meeting of the Company, whichever is the earlier (unless previously renewed, revoked or varied by the Company in general meeting), save that the Company may before such expiry make an offer or agreement which would or might require shares to be allotted and issued after such expiry and the Directors may allot and issue Ordinary Shares in pursuance of such an offer or agreement as if the authority conferred by this resolution 10 had not expired.

Ordinary Resolution 11

THAT , conditional on ordinary resolution 10 above having been passed, in substitution for all existing authorities (but in addition to and without prejudice to the power granted by ordinary resolution 10 above), the Directors be and are generally and unconditionally authorised to allot and issue, grant rights to subscribe for, or to convert securities into, up to an additional 36,385,603 Ordinary Shares (being 10 per cent. of the Company's Ordinary Shares in issue as at the latest practicable date prior to the date of publication of this document) for the period expiring on the date falling fifteen months after the date of passing of this resolution 11 or the conclusion of the next annual general meeting of the Company, whichever is the earlier, save that the Company may before such expiry make an offer or agreement which would or might require Ordinary Shares to be allotted and issued after such expiry and the Directors may allot and issue Ordinary Shares in pursuance of such an offer or agreement as if the authority had not expired.

 

Ordinary Resolution 12

THAT , the Directors be, in addition to any power conferred on them by extraordinary resolutions 15 and 16 below, generally and unconditionally authorised to sell shares in the Company if, immediately before the sale, such shares are held by the Company as treasury shares, for cash, provided that:

1. where any treasury shares are sold pursuant to this power at a discount to the then prevailing Net Asset Value of Ordinary Shares, such discount must be (i) lower than the discount to the net asset value per Ordinary Share at which the Company acquired the Ordinary Shares which it then holds in treasury and (ii) not greater than 5 per cent. to the prevailing net asset value per Ordinary Share at the latest practicable time before such sale and for this purpose the Directors shall be entitled to determine in their reasonable discretion the discount to the net asset value at which such Ordinary Shares were acquired by the Company and the net asset value per Ordinary Share at the latest practicable time before such Ordinary Shares are sold pursuant to this power; and
2. this power shall be limited to the sale of up to 36,385,603 treasury shares (being 10 per cent. of the Company's shares in issue as at the latest practicable date prior to the date of publication of this document), and provided further that the number of shares to which this power applies shall be reduced from time to time by the number of shares which are issued for cash as if the members' pre-emption rights contained in the Articles did not apply pursuant to the power conferred on the Directors by extraordinary resolutions 15 and 16 below,

such power shall expire on the date falling fifteen months after the date of passing of this Resolution 12 or the conclusion of the next annual general meeting of the Company, whichever is earlier (unless previously renewed, revoked or varied by the Company in general meeting), save that the Company may before such expiry make an offer or agreement which would or might require treasury shares to be sold after such expiry and the Directors may sell treasury shares pursuant to such offer or agreement as if the authority conferred hereby had not expired.   

 

 

Special Resolution 13

THAT , the terms of the proposed quarterly tender facility that, among other things, permits the Company to acquire its issued share capital from tendering shareholders, subject to certain restrictions (the " Facility "), the terms and conditions of which constituting the contract of such Facility (the " Agreement ") are set out in the Notice of Quarterly Tenders reproduced in the circular in respect of the Company dated 11 August 2026 (the " Circular "), are hereby approved and authorised pursuant to section 314(2) of the Companies (Guernsey) Law, 2008, as amended (the " Law ") and the Company's authority to effect the Facility on the terms of the Agreement pursuant to this resolution shall expire on the earlier of the date falling 12 months from the date of this resolution or the date of the Company's next annual general meeting, save that the Company may, prior to such expiry, enter into a contract to acquire Ordinary Shares under such authority and may make an acquisition of Ordinary Shares pursuant to any such contract.

Special Resolution 14

To authorise the Company, in accordance with section 315 of the Law to make market acquisitions (as defined in the Law) of its own shares of 1 pence each (either for retention as treasury shares for future re-issue, resale or transfer or cancellation) provided that:

1. the maximum number of Ordinary Shares authorised to be purchased is 14.99 per cent. of the aggregate Ordinary Shares (excluding treasury shares in issue) on the date on which this resolution is passed;
2. the minimum price (exclusive of expenses) which may be paid for an Ordinary Share shall be 1 pence per Ordinary Share;
3. the maximum price (exclusive of expenses) which may be paid for an Ordinary Share shall be the higher of (i) 105 per cent. of the average of the middle market quotations (as derived from the Daily Official List) for the Ordinary Shares for the five business days immediately preceding the date of acquisition and (ii) the higher of the last independent trade and the highest current independent bid on the trading venue on which the purchase is carried out; and
4. unless previously varied, revoked or renewed, the authority hereby conferred shall expire on 31 December 2027 or, if earlier, at the conclusion of the next annual general meeting of the Company to be held in 2027, save that the Company may, prior to such expiry, enter into a contract to acquire Ordinary Shares under such authority and may make an acquisition of Ordinary Shares pursuant to any such contract.

Extraordinary Resolution 15

THAT , the Directors of the Company be and they are hereby generally empowered, to allot and issue, to grant rights to subscribe for, or to convert and make offers or agreements to allot and issue equity securities (as defined in Article 6.1 of the Articles) for cash as if the pre-emption rights contained in the Articles in respect of such equity securities did not apply to any such allotment and issuance, provided that this power shall be limited so that it:

1. expires at the conclusion of the next annual general meeting of the Company after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is the earlier, save that the Company may, before such expiry, make an offer or agreement which would or might require equity securities to be allotted and issued after such expiry and the Directors may allot and issue equity securities in pursuance of any such offer or agreement as if the power conferred hereby had not expired; and
2. shall be limited to the allotment and issuance of equity securities up to an aggregate nominal value of £363,856 being approximately 10 per cent. of the nominal value of the issued share capital of the Company, as at 4 August 2026, and representing 363,856,026 Ordinary Shares.

Extraordinary Resolution 16

THAT , conditional on extraordinary resolution 15 above having been passed, the Directors of the Company be and they are hereby generally empowered, in addition to and without prejudice to the power granted by extraordinary resolution 15 above, to allot and issue, to grant rights to subscribe for, or to convert and make offers or agreements to allot and issue equity securities (as detailed in Article 6.1 of the Articles) for cash as if the pre-emption rights contained in the Articles in respect of such equity securities did not apply to any such allotment and issuance, provided that this power shall be limited so that it:

1. expires at the conclusion of the next annual general meeting of the Company after the passing of this resolution or on the expiry of 15 months from the passing of this resolution, whichever is the earlier, save that the Company may, before such expiry, make an offer or agreement which would or might require equity securities to be allotted and issued after such expiry and the Directors may allot and issue equity securities in pursuance of any such offer or agreement as if the power conferred hereby had not expired; and
2. shall be limited to the allotment and issuance of additional equity securities up to an aggregate nominal value of £363,856 being approximately 10 per cent. of the nominal value of the issued share capital of the Company, as at 4 August 2026, and representing 363,856,026 Ordinary Shares.

Enquiries:

Northern Trust International Fund Administration Services (Guernsey) Limited

The Company Secretary

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: 01481 745001

About the Company:

The Company is a London listed closed-ended investment company designed to take advantage of the premium returns available from "less liquid" instruments across the debt spectrum.

Further information is available on the Company's website at www.selectmonthlyincomefund.com .