TwentyFour Select Monthly Income Fund Limited (LSE:SMIF) commences share repurchases on July 22, 2022, under the program mandated by the shareholders in the Annual General Meeting held on July 22, 2022. As per the mandate, the company is authorized to repurchase up to 104,731,759? shares, representing 50% of its issued share capital. The company will conduct tender offers every quarter till June, 2023. Each Quarterly Tender is subject to a limit of 20% of the issued share capital. In the event of excess applications being received, such excess applications will be satisfied on a pro rata basis. The Company will calculate the Tender Price for each Quarterly Tender as at the relevant Tender NAV Determination Date. The repurchased shares will be held in treasury or cancelled by the company. The program will expire on the earlier of July, 2023, or 12 months from the date of this resolution. As at June 21, 2022, there were 209,463,518 shares in issue and had no shares in treasury.

On October 6, 2022, the company concluded the June 30, 2022 offer. Under the program, the company repurchased 85,051 ordinary shares.

Numis Securities Limited acted as a broker the company.