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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END
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