Tufton Oceanic Assets Ltd. $7.0m Investment in a Handysize Bulk Carrier (7494H)
27 Marzo 2020 - 1:00AM
UK Regulatory
TIDMSHIP
RNS Number : 7494H
Tufton Oceanic Assets Ltd.
27 March 2020
27 March 2020
Tufton Oceanic Assets Limited (The "Company")
$7.0m Investment in a Handysize Bulk Carrier
The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is
pleased to announce that the Company has acquired a Handysize Bulk
Carrier for $7.0m.
The vessel has a fixed rate time charter for six to eight months
to a major agricultural commodity trading and logistics company.
The yield during the charter is in line with the targets expressed
in the Company's prospectus dated 25 September 2018.
This acquisition takes the Company's fleet to sixteen vessels.
SHIP currently has approximately $15m of investible cash.
Tufton Oceanic Ltd, the Investment Manager, continues to
identify an attractive pipeline of opportunities across a range of
the Company's target sectors.
For further information, please contact:
Tufton Oceanic Limited (Investment +44 (0) 20 7518 6700
Manager)
Andrew Hampson
Paulo Almeida
N+1 Singer +44 (0) 20 7496 3000
James Maxwell, Alex Bond (Corporate
Finance)
Alan Geeves, James Waterlow, Sam Greatrex
(Sales)
Hudnall Capital LLP +44 (0) 20 7520 9085
Andrew Cade
About the Company
Tufton Oceanic Assets Limited invests in a diversified portfolio
of secondhand commercial sea-going vessels with the objective of
delivering strong cash flow and capital gains to investors. The
Company's investment manager is Tufton Oceanic Ltd. The Company has
raised a total of approximately $250m (gross) through its Initial
Public Offering on the Specialist Fund Segment of the London Stock
Exchange, on 20 December 2017, a subsequent placing and offer in
October 2018, a placing in March 2019 and a placing in September
2019 .
This information is provided by RNS, the news service of the
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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.
END
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