TIDMTMIP TIDMTMI
RNS Number : 4324B
Taylor Maritime Investments Limited
30 September 2022
30 September 2022
Taylor Maritime Investments Limited (the "Company")
Director/PDMR Shareholding
The Company announces that Christopher Buttery has purchased
50,000 ordinary shares in the capital of the Company ("Ordinary
Shares") as follows:
Director/PDMR Ordinary Price per Total Holding % of the Company's
Shares Acquired Ordinary following issued share capital
Share (USD) Purchase now held
Christopher
Buttery 50,000 1.21 700,722 0.212
----------------- ------------- -------------- ----------------------
The relevant notifications set out below are provided in
accordance with the requirements of the Market Abuse
Regulation.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Christopher Buttery
Reason for the notification
2
a) Position/status Director
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 Purchase
------------------------------- ------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
US$1.21 per share 50,000
d) Aggregated information
- Aggregated volume 50,000
- Total Price US$60,500
e) Date of the transaction 28 September 2022
f) Place of the transaction London Stock Exchange
For further information, please contact:
Taylor Maritime Investments Limited +852 2252 3882
Edward Buttery info@tminvestments.com
Alexander Slee
Jefferies International Limited
Investment Banking
Stuart Klein
Gaudi Le Roux
Sector coverage
Doug Mavrinac
Hugh Eden +44 20 7029 8000
Buchanan
Charles Ryland +44 20 7466 5107
Henry Wilson +44 20 7466 5111
Hannah Ratcliff +44 20 7466 5102
Sanne Fund Services (Guernsey) Limited
Tom Daish
Matt Falla +44 (0)1481 737600
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 10 June
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 work 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.
IMPORTANT NOTICE
The information in this announcement may include forward-looking
statements, which are based on the current expectations and
projections about future events and in certain cases can be
identified by the use of terms such as "may", "will", "should",
"expect", "anticipate", "project", "estimate", "intend",
"continue", "target", "believe" (or the negatives thereon) or other
variations thereon or comparable terminology. These forward-looking
statements are subject to risks, uncertainties and assumptions
about the Company, including, among other things, the development
of its business, trends in its operating industry, and future
capital expenditures and acquisitions. In light of these risks,
uncertainties and assumptions, the events in the forward-looking
statements may not occur.
References to target dividend yields and returns are targets
only and not profit forecasts and there can be no assurance that
these will be achieved.
LEI: 213800FELXGYTYJBBG50
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END
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