TwentyFour Income Fund Limited, a closed-ended investment company incorporated in Guernsey, held its annual general meeting (AGM) on September 10, 2026, approving all 15 resolutions proposed by its board. The meeting followed a notice issued on August 12, 2026, and covered a range of authorizations, including share repurchases and equity issuance, with voting results exceeding 94% across all items. Proxy voting represented approximately 42.15% of the company’s issued share capital, reflecting broad investor support for the proposed actions.
The fund authorized the repurchase of up to 14.99% of its ordinary shares, with a minimum purchase price of £0.01 per share and a maximum capped at 5% above the average mid-market value over the preceding five business days, or the higher of the last independent trade price and the highest current independent bid. This authority expires at the earlier of the 2027 AGM or 15 months from the resolution date.
Additionally, directors received authority to issue up to 10% of the total shares in issue under ordinary resolutions, with a further 10% authorized under separate extraordinary resolutions. Two extraordinary resolutions specifically permitted directors to issue equity securities for cash without pre-emption rights, each allowing up to 10% of the ordinary shares outstanding. Issuance was subject to a minimum net asset value per share threshold.
The resolutions also included standard corporate governance provisions, such as the appointment of auditors and the declaration of dividends, all of which were unanimously approved. The fund’s authority to act under these resolutions remains valid until the next AGM or 15 months from the current meeting, whichever comes first.
