TIDMTMIP TIDMTMI
RNS Number : 1462V
Taylor Maritime Investments Limited
05 August 2022
5 August 2022
Taylor Maritime Investments Limited
Grant of Long-Term Incentive Plan Awards
Taylor Maritime Investments Limited (TMI / TMIP), the specialist
dry bulk shipping company, announces that on 2 August 2022, the
following awards over Ordinary Shares were granted to the following
members of the Executive Team, in accordance with the terms of the
Company's Long-Term Incentive Plan ("LTIP"):
Director/PDMR Position Shares Awarded
Director & Chief Executive
Edward Buttery Officer 642,629
---------------------------- ---------------
Alexander Slee Deputy CEO 514,104
---------------------------- ---------------
Camilla Pierrepont Chief Strategy Officer 514,104
---------------------------- ---------------
Yam Lay Tan Chief Financial Officer 418,085
---------------------------- ---------------
Each award is subject to achieving a total NAV return of between
5% and 12% on average over the three year performance period
commencing with the financial year beginning 1 April 2022. The
normal vesting date of each award will be 2 August 2025. Further
details are available in the Company's IPO Prospectus which can be
found at https://taylormaritimeinvestments.com/ .
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Edward Buttery
Reason for the notification
2
a) Position/status Director & Chief Executive Officer
b) Initial notification Initial notification
/Amendment
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Taylor Maritime Investments Limited
b) LEI 213800FELXGYTYJBBG50
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the Ordinary USD shares
financial instrument,
type of instrument
Identification code GG00BP2NJT37
(ISIN)
b) Nature of the transaction Grant of awards under the Company's Long-Term
Incentive Plan
------------------------------------- ----------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
N/A 642,629
d) Aggregated information
- Aggregated volume 642,629
- Total Price N/A
e) Date of the transaction 2 August 2022
f) Place of the transaction N/A
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Alexander Slee
Reason for the notification
2
a) Position/status Deputy CEO
b) Initial notification Initial notification
/Amendment
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Taylor Maritime Investments Limited
b) LEI 213800FELXGYTYJBBG50
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
a) Description of the Ordinary USD shares
financial instrument,
type of instrument
Identification code GG00BP2NJT37
(ISIN)
b) Nature of the transaction Grant of awards under the Company's
Long-Term Incentive Plan
------------------------------------- ------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
N/A 514,104
d) Aggregated information
- Aggregated volume 514,104
- Total Price N/A
e) Date of the transaction 2 August 2022
f) Place of the transaction N/A
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Camilla Pierrepont
Reason for the notification
2
a) Position/status Chief Strategy Officer
b) Initial notification Initial notification
/Amendment
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Taylor Maritime Investments Limited
b) LEI 213800FELXGYTYJBBG50
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the Ordinary USD shares
financial instrument,
type of instrument
Identification code GG00BP2NJT37
(ISIN)
b) Nature of the transaction Grant of awards under the Company's Long-Term
Incentive Plan
------------------------------------- ----------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
N/A 514,104
d) Aggregated information
- Aggregated volume 514,104
- Total Price N/A
e) Date of the transaction 2 August 2022
f) Place of the transaction N/A
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Yam Lay Tan
Reason for the notification
2
a) Position/status Chief Financial Officer
b) Initial notification Initial notification
/Amendment
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
a) Name Taylor Maritime Investments Limited
b) LEI 213800FELXGYTYJBBG50
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the Ordinary USD shares
financial instrument,
type of instrument
Identification code GG00BP2NJT37
(ISIN)
b) Nature of the transaction Grant of awards under the Company's Long-Term
Incentive Plan
------------------------------------- ----------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
N/A 418,085
d) Aggregated information
- Aggregated volume 418,085
- Total Price N/A
e) Date of the transaction 2 August 2022
f) Place of the transaction N/A
S
For further information, please contact:
Taylor Maritime Investments Limited IR@tminvestments.com
Edward Buttery
Camilla Pierrepont
Jefferies International Limited
Stuart Klein
Gaudi Le Roux +44 20 7029 8000
Montfort Communications TMI@montfort.london
Alison Allfrey
George Morris Seers
Notes to editors
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 8% 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 28 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 has announced an increased interim dividend of 2
cents per Ordinary Share paid on a quarterly basis, 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 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.
For more information, please visit
www.taylormaritimeinvestments.com .
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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END
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