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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END
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