Taylor Maritime Investments Limited Second Quarter 2022 Conference Call (3524T)
22 Julio 2022 - 1:00AM
UK Regulatory
TIDMTMIP TIDMTMI
RNS Number : 3524T
Taylor Maritime Investments Limited
22 July 2022
TAYLOR MARITIME INVESTMENTS LIMITED
SECOND QUARTER 2022 CONFERENCE CALL
22 July 2022 - Taylor Maritime Investments Limited (TMI / TMIP),
the specialist dry bulk shipping company, announces that it will
release its next quarterly Net Asset Value (NAV) and trading update
for the period ended 30 June 2022 (Q1 of the 2022 financial year)
on Thursday 28(th) July 2022.
Ed Buttery, CEO, will hold a conference call to discuss the
Company's results on Thursday 28(th) July 2022 at 10:00 a.m.
British Summer Time (BST).
The conference call is open to existing shareholders,
institutional investors and analysts. To register your interest,
please send an enquiry to IR@tminvestments.com .
Notes to editors
Enquiries:
Taylor Maritime Investments Limited IR@tminvestments.com
Edward Buttery
Camilla Pierrepont
Jefferies International Limited
Investment Banking
Stuart Klein
Gaudi Le Roux +44 20 7029 8000
Montfort Communications TMI@montfort.london
Alison Allfrey
George Morris Seers
About the Company
Taylor Maritime Investments Limited is an internally managed
shipping company listed on the Premium Segment of the Official
List, its shares trading on the Main Market of the London Stock
Exchange since May 2021. The Company specializes in the acquisition
and chartering of vessels in the Handysize and Supramax bulk
carrier segments of the global shipping sector. The Company invests
in a diversified portfolio of vessels which are primarily
second-hand and which, historically, have demonstrated average
yields in excess of the Company's target dividend yield of 7% p.a.
(on the Initial Issue Price). The shares offer a compelling and
differentiated investment opportunity with the aim of delivering
strong cashflow, stable income and potential for capital
growth.
The Company invests in high quality, Japanese built vessels
which are primarily second-hand and acquired at valuations below
long-term average prices and depreciated replacement cost. The
current portfolio numbers 27 vessels. The Company has a leading
position in the Handysize shipping sector and, thanks to versatile
geared vessels delivering necessity goods, provides an attractive,
defensible yield underpinned by zero long-term structural gearing,
financial discipline and an optimal balance of charter rates and
durations. It has a selective growth strategy focusing on accretive
opportunities to increase shareholder returns and recycle capital
efficiently.
The Company intends to pay dividends of 1.75 cents per Ordinary
Share on a quarterly basis representing an annual yield of 7% on
the IPO price of $1.00, with a targeted total NAV return of 10-12%
per annum (net of expenses and fees but excluding any tax payable
by Shareholders) over the medium to long-term. The Board approved a
special dividend of 3.22 US cents per share in respect of the
period to 31 March 2022 paid on 6 May 2022, which brought total
dividends declared for the period from IPO to 31 March 2022 to 8.47
US cents per share, representing a dividend yield on the IPO price
of approximately 10% on an annualised basis. This reflected excess
cash generation in what continues to be a historically strong
market and a desire to return capital to shareholders in a timely
manner.
Sustainability is at the heart of the way in which the Company
is managed and it is committed to achieving a long-term target of
zero carbon emissions by 2050. Substantial technological advances
are a key element of this for the broader shipping industry, with
near term incremental progress effected by initiatives such as
retrofitting the fleet with energy saving devices, using low
sulphur fuels and trialling biofuels.
The Company has the benefit of an experienced Executive Team led
by Edward Buttery. The Executive Team worked closely together at
the Commercial Manager, Taylor Maritime. Established in 2014,
Taylor Maritime is a privately owned ship-owning and management
business with a seasoned team that includes the founders of dry
bulk shipping company Pacific Basin Shipping (listed in Hong Kong
2343.HK) and gas shipping company BW Epic Kosan (formerly Epic
Shipping) (listed in Oslo BWEK:NO). Taylor Maritime's team of
experienced industry professionals are based in Hong Kong,
Singapore and London.
About Geared Vessels
Geared vessels are characterised by their own loading and
unloading equipment. The Handysize market segment is particularly
attractive, given the flexibility, versatility and port
accessibility of these vessels which carry necessity goods -
principally foodstuffs and products related to infrastructure
building - ensuring broad diversification of fleet activity and
stability of earnings.
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