TwentyFour Select Monthly Income Fund - Results of Annual General Meeting

TwentyFour Select Monthly Income Fund - Results of Annual General Meeting

PR Newswire

LONDON, United Kingdom, August 14

TwentyFour Select Monthly Income Fund Limited

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

LEI Number: 549300P9Q5O2B3RDNF78

14 August 2025

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 sent to Shareholders dated 25 July 2025, were duly passed.

Details of the proxy voting results which should be read along side the Notice are noted below:

Ordinary Resolution	For	Discretion (voted in favour)	Against	Abstain
1	28,310,423	15,000	155,571	386,324
2	28,310,800	15,000	155,429	386,089
3	27,776,629	15,000	708,345	367,344
4	28,194,914	15,000	342,060	315,344
5	26,652,995	15,000	1,774,616	424,707
6	28,055,475	15,000	368,650	428,193
7	26,845,594	15,000	1,575,766	430,958
8	26,736,987	15,000	1,690,624	424,707
9	27,831,716	15,000	614,132	406,470
10	27,648,383	15,000	766,433	437,502
11	27,397,798	15,000	1,025,764	428,756
Special Resolution	For	Discretion (voted in favour)	Against	Abstain
12	27,863,242	15,000	549,642	439,434
13	27,623,335	15,000	647,430	581,553
Extraordinary Resolution	For	Discretion (voted in favour)	Against	Abstain
14	27,376,240	15,000	1,042,366	433,712
15	27,137,009	15,000	1,289,929	425,380

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 29,437,433 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 29,437,433 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.

Special Resolution 12

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 23 July 2025 (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.

Special Resolution 13

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 £0.01 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

unless previously varied, revoked or renewed, the authority hereby conferred shall expire on 31 December 2026 or, if earlier, at the conclusion of the next annual general meeting of the Company to be held in 2026, 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 14

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

shall be limited to the allotment and issuance of equity securities up to an aggregate nominal value of £294,374 being approximately 10 per cent. of the nominal value of the issued share capital of the Company, as at 15 July 2025, and representing 29,437,433 Ordinary Shares.

Extraordinary Resolution 15

THAT conditional on extraordinary resolution 14 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 14 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 £294,374 being approximately 10 per cent. of the nominal value of the issued share capital of the Company, as at 15 July 2025 and representing 29,437,433 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: [phone]

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.

Visit the Company's website at www.selectmonthlyincomefund.com for more information.

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