TIDMTMIP TIDMTMI
RNS Number : 6401M
Taylor Maritime Investments Limited
15 September 2023
15 September 2023
Taylor Maritime Investments Limited (the "Company")
Director/PDMR Shareholding
The Company announces that Henry Strutt, non-executive Director
and Chairman, has purchased 74,000 ordinary shares in the capital
of the Company ("Ordinary Shares") as follows:
Director/PDMR Ordinary Shares Price per Total Holding % of the Company's
Acquired Ordinary following issued share capital
Share Purchase now held
---------------- ---------- --------------- ----------------------
Henry Strutt 74,000[1] $0.845 74,000 0.022%
--------------- ---------------- ---------- --------------- ----------------------
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 Henry Strutt
Reason for the notification
2
a) Position/status Non-executive Director and Chairman
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 shares
financial instrument,
type of instrument
Identification code GG00BP2NJT37
(ISIN)
b) Nature of the transaction Purchase
Purchase not linked to a share option
programme
--------------------------- ---------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
USD 0.845 per Ordinary 18,000 Henry Strutt
Share
USD 0.845 per Ordinary 56,000 PCA
Share
d) Aggregated information
- Aggregated volume 74,000
- Total Price USD 62,530
e) Date of the transaction 13 September 2023
f) Place of the transaction London Stock Exchange
ENDS
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
Sanne Fund Services (Guernsey)
Limited
Matt Falla +44 1481 737600
Notes to Editors
About the Company
Taylor Maritime Investments Limited is an internally managed
investment 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. TMI's fleet portfolio currently numbers 22 vessels in
the geared dry bulk segment. The ships are employed utilising a
variety of employment/charter strategies.
On 20 December, the Company announced it acquired a controlling
majority interest in Grindrod Shipping Holdings Ltd ("Grindrod")
(NASDAQ:GRIN, JSE:GSH), a Singapore incorporated, dual listed
company on NASDAQ and the Johannesburg Stock Exchange. Grindrod
currently owns 21 geared dry bulk vessels complementary to the
Company's fleet. They are mostly Japanese built, including 13
Handysize vessels and 8 Supra/Ultramax vessels. Grindrod has seven
vessels in its chartered in fleet with purchase options on
four.
The combined TMI and Grindrod fleet numbers 47 vessels
(excluding three long term chartered in vessels without purchase
options).
The Company's target dividend policy is 8 cents p.a. paid on a
quarterly basis, with a targeted total NAV return of 10-12% per
annum over the medium to long-term.
The Company has the benefit of an experienced Executive Team led
by Edward Buttery and who previously 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
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 equipment.
The Handysize and Supra/Ultramax market segments are particularly
attractive, given the flexibility, versatility and port
accessibility of these vessels which carry necessity goods -
principally food and products related to infrastructure building -
ensuring broad diversification of fleet activity and stability of
earnings through the cycle.
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
[1] Includes 56,000 shares acquired by a PCA.
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END
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