Taylor Maritime Investments Limited Dividend Currency Election (0866S)
11 Noviembre 2021 - 3:00AM
UK Regulatory
TIDMTMIP TIDMTMI
RNS Number : 0866S
Taylor Maritime Investments Limited
11 November 2021
Taylor Maritime Investments Limited
(the "Company")
Dividend Currency Election
An announcement was made on 27 October 2021 regarding the
dividend to be paid on 24 November 2021 and the option for
shareholders to elect to receive this in sterling rather than US
dollars.
The dividend rate per share to be used to pay shareholders who
elected to receive their dividend in sterling will be 1.2922 pence
per share (1.75 cents per share converted into sterling using an FX
rate of 1.354278).
For further information, please contact:
Taylor Maritime Investments Limited IR@tminvestments.com
Edward Buttery
Alexander Slee
Jefferies International Limited
Investment Banking
Stuart Klein
Gaudi Le Roux
Sector coverage
Doug Mavrinac
Hugh Eden +44 20 7029 8000
Montfort Communications TMI@montfort.london
Nick Bastin
Alison Allfrey
Miles McKechnie
Notes to editors
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..
The Company's initial investments comprise Geared Ships
(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
declared 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. Geared vessels are characterised by their
own loading equipment. 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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