Taylor Maritime Investments Limited Acquisition of Praxis Fund Services by Sanne Group (8793U)
07 Diciembre 2021 - 10:59AM
UK Regulatory
TIDMTMIP TIDMTMI
RNS Number : 8793U
Taylor Maritime Investments Limited
07 December 2021
7 December 2021
Taylor Maritime Investments Limited (the "Company")
Acquisition of Praxis Fund Services Limited by Sanne Group
plc
The Company announces, that effective 3 December 2021, the fund
services division of PraxisIFM Group, which included Praxis Fund
Services Limited, the Company Secretary and Administrator of the
Company, was acquired by Sanne Group plc. Effective 6 December
2021, Praxis Fund Services Limited changed its name to Sanne Fund
Services (Guernsey) Limited. There is no change to the Company's
registered address, e-mail or telephone number.
For further information, please contact:
Taylor Maritime Investments Limited
Edward Buttery
Alexander Slee +852 2252 3882
Jefferies International Limited
Investment Banking
Stuart Klein
Gaudi Le Roux
Sector coverage
Doug Mavrinac
Hugh Eden +44 20 7029 8000
LEI: 213800FELXGYTYJBBG50
NOTES:
About the Company
Taylor Maritime Investments Limited is a recently established,
internally managed investment company listed on the Premium Listing
Category of the Official List and traded on the Main Market of the
London Stock Exchange. 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. and were acquired at
valuations that are expected to be below long-term average
prices.
The Company's initial investments comprise Geared Bulk Carriers
(Handysize and Supramax types) employed utilising a variety of
employment/Charter strategies.
The Company intends to pay dividends on a quarterly basis with
dividends declared in January, April, July and October. Once the
Company is fully invested, the Company will target a Total NAV
Return of 10 to 12% p.a. (net of expenses and fees but excluding
any tax payable by Shareholders) over the medium to long term.
The Company has the benefit of an experienced Executive Team led
by Edward Buttery. The Executive Team previously worked closely
together for 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 and
London.
For more information, please visit
www.taylormaritimeinvestments.com .
About Geared vessels
The Company specializes in the acquisition and chartering of
vessels in the Handysize and Supramax bulk carrier segments of the
global shipping sector. These "Geared" vessels, which have their
own loading equipment, are mostly acquired second-hand, leveraging
valuations that are below long-term average prices. The Handysize
market segment is 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.
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.
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