TIDMTMIP TIDMTMI

RNS Number : 9346J

Taylor Maritime Investments Limited

27 August 2021

Taylor Maritime Investments Limited ("TMI" or the "Company")

Grant of Long-Term Incentive Plan Awards

Taylor Maritime Investments Limited (TMI / TMIP), the specialist dry bulk shipping company, announces that on 26 August 2021, the following awards over Ordinary Shares were granted to the following members of the Executive Team, in accordance with the terms of the Company's Long-Term Incentive Plan ("LTIP"):

 
 Director/PDMR         Position                      Shares Awarded 
                       Director & Chief Executive 
 Edward Buttery         Officer                      750,000 
                      ----------------------------  --------------- 
 Alexander Slee        Chief Operating Officer       562,500 
                      ----------------------------  --------------- 
 Camilla Pierrepont    Chief Strategy Officer        562,500 
                      ----------------------------  --------------- 
 Yam Lay Tan           Chief Financial Officer       420,000 
                      ----------------------------  --------------- 
 

Each award is subject to achieving a total NAV return of between 5% and 12% on average over the three year performance period commencing with the financial year beginning 1 April 2021. The normal vesting date of each award will be 26 August 2024. Further details are available in the Company's IPO Prospectus which can be found at https://taylormaritimeinvestments.com/ .

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Edward Buttery 
 2     Reason for the notification 
 a)    Position/status                        Director & Chief Executive Officer 
 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              Grant of awards under the Company's Long-Term 
                                               Incentive Plan 
      -------------------------------------  ---------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                               Price(s)                  Volume(s) 
    N/A                                                                  750,000 
 
 
 d)    Aggregated information 
 
  - Aggregated volume                    750,000 
  - Total Price                          N/A 
 
 e)    Date of the transaction                26 August 2021 
 f)    Place of the transaction               N/A 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Alexander Slee 
 2     Reason for the notification 
 a)    Position/status                        Chief Operating Officer 
 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              Grant of awards under the Company's 
                                               Long-Term Incentive Plan 
      -------------------------------------  ------------------------------------------ 
 c)    Price(s) and volume(s) 
                                               Price(s)             Volume(s) 
    N/A                                                             562,500 
 
 
 d)    Aggregated information 
 
  - Aggregated volume                    562,500 
  - Total Price                          N/A 
 
 e)    Date of the transaction                26 August 2021 
 f)    Place of the transaction               N/A 
 
 
 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 
 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              Grant of awards under the Company's Long-Term 
                                               Incentive Plan 
      -------------------------------------  ---------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                               Price(s)                  Volume(s) 
    N/A                                                                  562,500 
 
 
 d)    Aggregated information 
 
  - Aggregated volume                    562,500 
  - Total Price                          N/A 
 
 e)    Date of the transaction                26 August 2021 
 f)    Place of the transaction               N/A 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Yam Lay Tan 
 2     Reason for the notification 
 a)    Position/status                        Chief Financial Officer 
 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              Grant of awards under the Company's Long-Term 
                                               Incentive Plan 
      -------------------------------------  ---------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                               Price(s)                  Volume(s) 
    N/A                                                                  420,000 
 
 
 d)    Aggregated information 
 
  - Aggregated volume                    420,000 
  - Total Price                          N/A 
 
 e)    Date of the transaction                26 August 2021 
 f)    Place of the transaction               N/A 
 
 
Taylor Maritime Investments Limited   IR@tminvestments.com 
 Edward Buttery 
 Alexander Slee 
Jefferies International Limited 
 Investment Banking 
 Stuart Klein 
 Gaudi Le Roux                        +44 20 7029 8000 
Sector coverage 
 Doug Mavrinac 
 Hugh Eden 
Montfort Communications               TMI@montfort.london 
 Nick Bastin 
 Alison Allfrey 
 Miles McKechnie 
Praxis Fund Services Limited 
 Tom Daish 
 Matt Falla                           +44 1481 737600 
 

Notes to editors

About Taylor Maritime Investments

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 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 .

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 well 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHUNONRASUWUAR

(END) Dow Jones Newswires

August 27, 2021 02:00 ET (06:00 GMT)

Taylor Maritime Investme... (LSE:TMI)
Gráfica de Acción Histórica
De Nov 2021 a Dic 2021 Haga Click aquí para más Gráficas Taylor Maritime Investme....
Taylor Maritime Investme... (LSE:TMI)
Gráfica de Acción Histórica
De Dic 2020 a Dic 2021 Haga Click aquí para más Gráficas Taylor Maritime Investme....