Taylor Maritime Investments Limited Director/PDMR Shareholding (9346J)
27 Agosto 2021 - 1:00AM
UK Regulatory
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.
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