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TMIP Taylor Maritime Investments Limited

77.00
0.00 (0.00%)
Last Updated: 08:00:25
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Taylor Maritime Investments Limited LSE:TMIP London Ordinary Share GG00BP2NJT37 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 77.00 77.00 80.00 77.00 77.00 77.00 111,645 08:00:25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 36.26M 26.21M 0.0794 12.59 330.22M

Taylor Maritime Investments Limited Director/PDMR Shareholding (5410B)

02/06/2023 4:52pm

UK Regulatory


Taylor Maritime Investme... (LSE:TMIP)
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RNS Number : 5410B

Taylor Maritime Investments Limited

02 June 2023

2 June 2023

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

The Company announces that Christopher Buttery, a non-executive Director, has purchased 50,000 ordinary shares in the capital of the Company ("Ordinary Shares") as follows:

 
 Director/PDMR          Ordinary Shares   Price per    Total Holding   % of the Company's 
                         Acquired          Ordinary     following       issued share capital 
                                           Share        Purchase        now held 
                       ----------------  ----------  ---------------  ---------------------- 
 Christopher Richard 
  Buttery               50,000            $ 1.02       850,722         0.258% 
---------------------  ----------------  ----------  ---------------  ---------------------- 
 

The relevant notifications set out below are provided in accordance with the requirements of the Market Abuse Regulation.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
       Details of the person discharging managerial responsibilities 
  1     / person closely associated 
 a)    Name                           Christopher Richard Buttery 
       Reason for the notification 
  2 
 a)    Position/status                Non-executive Director 
 b)    Initial notification           Initial notification 
        /Amendment 
       Details of the issuer, emission allowance market participant, 
  3     auction platform, auctioneer or auction monitor 
 a)    Name                           Taylor Maritime Investments Limited 
 b)    LEI                            213800FELXGYTYJBBG50 
       Details of the transaction(s): section to be repeated for 
  4     (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 shares 
        financial instrument, 
        type of instrument 
 
       Identification code            GG00BP2NJT37 
        (ISIN) 
 
 b)    Nature of the transaction      Purchase 
                                       Purchase not linked to a share option 
                                       programme 
      -----------------------------  --------------------------------------------- 
 c)    Price(s) and volume(s) 
                                       Price(s)                       Volume(s) 
    US$ 1.02 per Ordinary 
     Share                                                            50,000 
 
 d)    Aggregated information 
 
  - Aggregated volume            50,000 
  - Total Price                  US$51,090.00 
 
 e)    Date of the transaction        2 June 2023 
 f)    Place of the transaction       London Stock Exchange 
 

ENDS

 
For further information, please contact: 
 Taylor Maritime Investments       IR@tminvestments.com 
  Limited 
  Edward Buttery 
  Camilla Pierrepont 
 Jefferies International Limited 
  Stuart Klein 
  Gaudi Le Roux                    +44 20 7029 8000 
 Montfort Communications           TMI@montfort.london 
  Alison Allfrey 
  George Morris Seers 
 Sanne Fund Services (Guernsey) 
  Limited 
  Matt Falla                       +44 1481 737600 
 

Notes to Editors

About the Company

Taylor Maritime Investments Limited is an internally managed investment company listed on the Premium Segment of the Official List, its shares trading on the Main Market of the London Stock Exchange since May 2021. The Company specializes in the acquisition and chartering of vessels in the Handysize and Supramax bulk carrier segments of the global shipping sector. The Company invests in a diversified portfolio of vessels which are primarily second-hand. TMI's fleet portfolio numbers 23 vessels in the geared dry bulk segment. The ships are employed utilising a variety of employment/charter strategies.

On 20 December, the Company announced it acquired a controlling majority interest in Grindrod Shipping Holdings Ltd ("Grindrod") (NASDAQ:GRIN, JSE:GSH), a Singapore incorporated, dual listed company on NASDAQ and the Johannesburg Stock Exchange. Grindrod owns 24 geared dry bulk vessels complementary to the Company's fleet. They are mostly Japanese built, including 15 Handysize vessels and 9 Supramax and Ultramax vessels. Grindrod has seven vessels in its chartered in fleet with purchase options on four.

The combined TMI and Grindrod fleet numbers 54 vessels (including chartered in vessels).

The Company's target dividend policy is 8 cents p.a. paid on a quarterly basis, with a targeted total NAV return of 10-12% per annum over the medium to long-term.

The Company has the benefit of an experienced Executive Team led by Edward Buttery and who previously worked closely together at 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 industry professionals are based in Hong Kong, Singapore and London.

For more information, please visit www.taylormaritimeinvestments.com .

About Geared Vessels

Geared vessels are characterised by their own loading equipment. The Handysize and Supra/Ultramax market segments are 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 and stability of earnings through the cycle.

IMPORTANT NOTICE

The information in this announcement may include forward-looking statements, which are based on the current expectations and projections about future events and in certain cases can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "believe" (or the negatives thereon) or other variations thereon or comparable terminology. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company, including, among other things, the development of its business, trends in its operating industry, and future capital expenditures and acquisitions. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur.

References to target dividend yields and returns are targets only and not profit forecasts and there can be no assurance that these will be achieved.

LEI: 213800FELXGYTYJBBG50

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

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June 02, 2023 11:52 ET (15:52 GMT)

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