TIDMTMIP

RNS Number : 2526A

Taylor Maritime Investments Limited

28 May 2021

28 May 2021

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

Further to the announcement on 27 May 2021, the Company announces that interests in the below ordinary shares in the capital of the Company ("Ordinary Shares") were acquired by Directors and PDMRs of the Company in connection with the admission of its ordinary shares to premium listing and trading on the Main Market of the London Stock Exchange ("Admission") and related completion of certain seed asset acquisition agreements, which completed on Admission:

 
 Director/PDMR             Number of Shares      Number of shares           Total Holding   % of the 
                            subscribed for        received on completion     Following       Company's 
                            cash on Admission*    of Initial Seed            Admission       issued share 
                                                  Asset Acquisition                          capital held 
                                                  Agreements on Admission 
 Edward Buttery            0                     180,001**                  180,001         0.071 
                          --------------------  -------------------------  --------------  -------------- 
 Trudi Clark               40,000                0                          40,000          0.016 
                          --------------------  -------------------------  --------------  -------------- 
 Nicholas Lykiardopulo     2,000,000***          0                          2,000,000**     0.788 
                          --------------------  -------------------------  --------------  -------------- 
 Sandra Platts             42,261                0                          42,261          0.017 
                          --------------------  -------------------------  --------------  -------------- 
 Camilla Pierrepont****    0                     20,000                     20,000          0.008 
                          --------------------  -------------------------  --------------  -------------- 
 

* Includes Ordinary Shares either acquired directly or through an interest in the vendors

** Edward Buttery is expected to receive a further 80,000 Ordinary Shares on completion of the remaining seed asset acquisition agreements which are expected to complete at a later date. Also includes one Ordinary Share issued on incorporation.

*** Nicholas Lykiardopulo subscribed for 500,000 Ordinary Shares directly and an additional 1,500,000 Ordinary Shares were subscribed for by a trust of which Mr Lykiardopulo is a beneficiary .

**** Camilla Pierrepont is expected to receive a further 60,000 Ordinary Shares on completion of the Remaining Seed Asset Acquisition Agreements, which are expected to complete at a later date.

Christopher Buttery , a Director, is also expected to have an interest in 170,000 Ordinary Shares on completion of the Remaining Seed Asset Acquisition Agreements, which are expected to complete at a later date, and he has a non-controlling interest in a significant shareholder, Taylor Point (MI) Limited.

Alexander Slee, a PDMR, is also expected to have an interest in 60,000 Ordinary Shares on completion of the Remaining Seed Asset Acquisition Agreements, which are expected to complete at a later date.

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

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                               Edward Buttery 
 2     Reason for the notification 
 a)    Position/status                    Director / CEO of the Commercial Manager 
 b)    Initial notification               Initial notification 
        /Amendment 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
 a)    Name                               Taylor Maritime Investments Limited 
 b)    LEI                                213800K6VJ62SKV9VL48 
 4     Details of the transaction(s): section to be repeated for 
        (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 per share                                                     1 
    US$1 per share                                                     180,000 
 
 d)    Aggregated information 
 
  - Aggregated volume                180,001 
  - Total Price                      US$180,001 
 
 e)    Date of the transaction            27 May 2021 
 f)    Place of the transaction           London Stock Exchange 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                               Trudi Clark 
 2     Reason for the notification 
 a)    Position/status                    Director 
 b)    Initial notification               Initial notification 
        /Amendment 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
 a)    Name                               Taylor Maritime Investments Limited 
 b)    LEI                                213800K6VJ62SKV9VL48 
 4     Details of the transaction(s): section to be repeated for 
        (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 per share                                                  40,000 
 
 d)    Aggregated information 
 
  - Aggregated volume                40,000 
  - Total Price                      US$40,000 
 
 e)    Date of the transaction            27 May 2021 
 f)    Place of the transaction           London Stock Exchange 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                               Nicholas Lykiardopulo 
 2     Reason for the notification 
 a)    Position/status                    Director 
 b)    Initial notification               Initial notification 
        /Amendment 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
 a)    Name                               Taylor Maritime Investments Limited 
 b)    LEI                                213800K6VJ62SKV9VL48 
 4     Details of the transaction(s): section to be repeated for 
        (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 per share                                                  500,000 
    US$1 per share                                                  1,500,000 
 
 d)    Aggregated information 
 
  - Aggregated volume                2,000,000 
  - Total Price                      US$2,000,000 
 
 e)    Date of the transaction            27 May 2021 
 f)    Place of the transaction           London Stock Exchange 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                               Sandra Platts 
 2     Reason for the notification 
 a)    Position/status                    Director 
 b)    Initial notification               Initial notification 
        /Amendment 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
 a)    Name                               Taylor Maritime Investments Limited 
 b)    LEI                                213800K6VJ62SKV9VL48 
 4     Details of the transaction(s): section to be repeated for 
        (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 per share                                                  42,261 
 
 d)    Aggregated information 
 
  - Aggregated volume                42,261 
  - Total Price                      US$42,261 
 
 e)    Date of the transaction            27 May 2021 
 f)    Place of the transaction           London Stock Exchange 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                               Camilla Pierrepont 
 2     Reason for the notification 
 a)    Position/status                    Chief Strategy Officer of the Commercial 
                                           Manager 
 b)    Initial notification               Initial notification 
        /Amendment 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
 a)    Name                               Taylor Maritime Investments Limited 
 b)    LEI                                213800K6VJ62SKV9VL48 
 4     Details of the transaction(s): section to be repeated for 
        (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 per share                                                     20,000 
 
 d)    Aggregated information 
 
  - Aggregated volume                20,000 
  - Total Price                      US$20,000 
 
 e)    Date of the transaction            27 May 2021 
 f)    Place of the transaction           London Stock Exchange 
 

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 
Buchanan 
Charles Ryland                        +44 20 7466 5107 
 Henry Wilson                          +44 20 7466 5111 
 Hannah Ratcliff                       +44 20 7466 5102 
Praxis Fund Services Limited 
 Tom Daish 
 Matt Falla                           +44 (0)1481 737600 
 

LEI: 213800FELXGYTYJBBG50

NOTES:

About the Company

Taylor Maritime Investments Limited is a newly established, internally managed investment company listed on the Premium Segment of the Official List and traded on the Main Market of the London Stock Exchange. The Company will invest in a diversified portfolio of vessels which will primarily be second-hand and which, historically, have demonstrated average yields in excess of the Company's target dividend yield of 7% p.a. and are capable of being acquired at valuations that are expected to be below long-term average prices.

The Company's initial investments forming the Seed Portfolio comprise Geared Ships (Handysize and Supramax types) to be 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. The Company expects to declare its first dividend of 1.75 cents per Ordinary Share for the initial period ended 30 September 2021 in October 2021. 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[1].

The Company has the benefit of an experienced Executive Team led by Edward Buttery. The Executive Team have to date 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 .

[1] The above references to dividends and returns are expectations and not profit forecasts and there can be no assurance that these will be met.

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