TIDMTMIP TIDMTMI

RNS Number : 1282H

Taylor Maritime Investments Limited

30 July 2021

30 July 2021

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

Further to the announcement on 26 July 2021, the Company announces that interests in the below ordinary shares in the capital of the Company ("Ordinary Shares") were acquired by Directors of the Company in connection with the admission of 65,217,392 new ordinary shares to premium listing and trading on the Main Market of the London Stock Exchange on 28 July 2021 ("Admission"):

 
 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                  174,000            1.15           174,000         0.053 
                          -----------------  -------------  --------------  ---------------------- 
 Edward Buttery            50,000             1.15           328,807         0.100 
                          -----------------  -------------  --------------  ---------------------- 
 Trudi Clark               10,000             1.15           50,000          0.015 
                          -----------------  -------------  --------------  ---------------------- 
 Nicholas Lykiardopulo*    436,086            1.15           2,436,086       0.743 
                          -----------------  -------------  --------------  ---------------------- 
 Helen Tveitan             20,000             1.15           20,000          0.006 
                          -----------------  -------------  --------------  ---------------------- 
 

* Mr Nicholas Lykiardopulo subscribed for 110,000 Ordinary Shares directly and an additional 326,086 Ordinary Shares were subscribed for by a trust of which Mr Lykiardopulo is a beneficiary .

Part A below sets out relevant notifications for these acquisitions, provided in accordance with the requirements of the Market Abuse Regulation.

In addition, the Company makes the below amendments to the Director / PDMR Shareholding announcement (RNS 2526A) released on 28 May 2021. All other details remain unchanged.

1. Edward Buttery held 186,307 ordinary shares on completion of the Initial Seed Asset Acquisition Agreements on Admission including shares acquired through an interest in vendors (amended from 180,001 ordinary shares) giving him a total holding of the same number of ordinary shares and constituting 0.073% of the then issued share capital (amended from 0.071%). Following the acquisition by Edward Buttery of 92,500 ordinary shares announced on 30 June 2021 and an additional 50,000 ordinary shares announced today, his total holding is now 328,807 ordinary shares constituting 0.100% of the current issued share capital.

2. Camilla Pierrepont held 23,371 ordinary shares on completion of the Initial Seed Asset Acquisition Agreements on Admission including shares acquired through an interest in vendors (amended from 20,000 ordinary shares) giving her a total holding of the same number of ordinary shares and constituting 0.009% of the then issued share capital (amended from 0.008%). Following the acquisition by Camilla Pierrepont and persons closely associated with her of 82,239 ordinary shares announced on 30 June 2021, her total holding is now 105,610 ordinary shares constituting 0.032% of the current issued share capital.

Part B below sets out amended notifications for the acquisitions announced in RNS 2526A, provided in accordance with the requirements of the Market Abuse Regulation.

Part A - 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                             Christopher Buttery 
 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                              213800FELXGYTYJBBG50 
 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$1.15 per share                                               174,000 
 
 
 d)    Aggregated information 
 
  - Aggregated volume              174,000 
  - Total Price                    US$200,100 
 
 e)    Date of the transaction          28 July 2021 
 f)    Place of the transaction         London Stock Exchange 
 
 
 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 
 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                              213800FELXGYTYJBBG50 
 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$1.15 per share                                               50,000 
 
 
 d)    Aggregated information 
 
  - Aggregated volume              50,000 
  - Total Price                    US$57,500 
 
 e)    Date of the transaction          28 July 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                              213800FELXGYTYJBBG50 
 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$1.15 per share                                               10,000 
 
 d)    Aggregated information 
 
  - Aggregated volume              10,000 
  - Total Price                    US$11,500 
 
 e)    Date of the transaction          28 July 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                              213800FELXGYTYJBBG50 
 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$1.15 per share                                               110,000 
    US$1.15 per share                                               326,086 
 
 d)    Aggregated information 
 
  - Aggregated volume              436,086 
  - Total Price                    US$501,500 
 
 e)    Date of the transaction          28 July 2021 
 f)    Place of the transaction         London Stock Exchange 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                             Helen Tveitan 
 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                              213800FELXGYTYJBBG50 
 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$1.15 per share                                               20,000 
 
 d)    Aggregated information 
 
  - Aggregated volume              20,000 
  - Total Price                    US$23,000 
 
 e)    Date of the transaction          28 July 2021 
 f)    Place of the transaction         London Stock Exchange 
 

Part B - Amended 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 
 b)    Initial notification               Amendment 
        /Amendment 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
 a)    Name                               Taylor Maritime Investments Limited 
 b)    LEI                                213800FELXGYTYJBBG50 
 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                                                  186,306 
 
 d)    Aggregated information 
 
  - Aggregated volume                186,307 
  - Total Price                      US$186,307 
 
 e)    Date of the transaction            27 May 2021 
 f)    Place of the transaction           London Stock Exchange 
 
 
 Name                               Camilla Pierrepont 
 Reason for the notification 
 Position/status                    Chief Strategy Officer 
 Initial notification               Amendment 
  /Amendment 
 Details of the issuer, emission allowance market participant, 
  auction platform, auctioneer or auction monitor 
 Name                               Taylor Maritime Investments Limited 
 LEI                                213800FELXGYTYJBBG50 
 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 
 Description of the                 Ordinary USD shares 
  financial instrument, 
  type of instrument 
 
 Identification code                GG00BP2NJT37 
  (ISIN) 
 
 Nature of the transaction          Purchase 
---------------------------------  ------------------------------------------ 
 Price(s) and volume(s) 
                                     Price(s)                 Volume(s) 
   US$1 per share                                             23,371 
 
 
 Aggregated information 
 
 - Aggregated volume                23,371 
 - Total Price                      US$23,371 
 
 Date of the transaction            27 May 2021 
 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 
 

About the Company

Taylor Maritime Investments Limited is a recently 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 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. 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.

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 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 .

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