| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES |
| 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: |
TwentyFour Income Fund Ltd |
| 2 Reason for the notification (please tick the appropriate box or boxes): |
An acquisition or disposal of voting rights |
|
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached |
|
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments |
|
An event changing the breakdown of voting rights |
X |
Other (please specify): |
|
|
|
|
|
| 3. Full name of person(s) subject to the notification obligation: |
Bank of Montreal |
| 4. Full name of shareholder(s) (if different from 3.): |
See box 9 below |
| 5. Date of the transaction and date on which the threshold is crossed or reached: |
13th December 2016 |
| 6. Date on which issuer notified: |
15th December 2016 |
| 7. Threshold(s) that is/are crossed or reached: |
5% |
| 8. Notified details: |
| A: Voting rights attached to shares |
Class/type of
shares
if possible using
the ISIN CODE |
Situation previous
to the triggering
transaction |
Resulting situation after the triggering transaction |
Number
of
Shares |
Number
of
Voting
Rights |
Number
of shares |
Number of voting
rights |
% of voting rights |
| Direct |
Direct |
Indirect |
Direct |
Indirect |
| GG00B90J5Z95 |
16,500,000 |
16,500,000 |
19,404,126 |
- |
19,404,126 |
- |
4.96% |
|
| B: Qualifying Financial Instruments |
| Resulting situation after the triggering transaction |
Type of financial
instrument |
Expiration
date |
Exercise/
Conversion
Period |
Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted. |
% of voting
rights |
|
|
|
|
|
| C: Financial Instruments with similar economic effect to Qualifying Financial Instruments |
| Resulting situation after the triggering transaction |
Type of financial
instrument |
Exercise
price |
Expiration
date |
Exercise/
Conversion
period |
Number of voting
rights instrument
refers to |
% of voting rights |
|
|
|
|
|
Nominal |
Delta |
|
|
| Total (A+B+C) |
| Number of voting rights |
Percentage of voting rights |
| 19,404,126 |
4.96% |
| 9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: |
Bank of Montreal is the parent company of the BMO Financial Group. The following controlled undertakings each hold voting rights of 3% or more of the issuer. All controlled undertaking(s) as detailed are wholly owned subsidiaries of the Bank of Montreal. Controlled undertakings can exercise voting rights independently.
| Controlled Undertaking |
No. of voting rights |
% of total voting rights |
| Thames River Multi-Capital LLP |
19,339,201 |
4.94% |
|
| Proxy Voting: |
| 10. Name of proxy holder: |
|
| 11. Number of voting rights proxy holder will cease to hold: |
|
| 12. Date on which proxy holder will cease to hold voting rights: |
|
| 13. Additional information: |
Calculation based on total voting rights of 390,814,151 |
| 14 Contact name: |
Ding Wang |
| 15. Contact telephone name: |
0207 011 5180 |
For notes on how to complete form TR-1 please see the FSA website.