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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 | |
---|---|---|---|---|---|---|---|---|---|---|
1.40 | 1.82% | 78.40 | 77.00 | 78.40 | 78.40 | 78.40 | 78.40 | 67,229 | 16:29:46 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 36.26M | 26.21M | 0.0794 | 12.47 | 326.91M |
TIDMTMIP TIDMTMI
RNS Number : 7069W
Taylor Maritime Investments Limited
13 December 2023
13 December 2023
Taylor Maritime Investments Limited (the "Company")
Director/PDMR Shareholding
The Company announces that Frank Dunne, Non-Executive Director, has purchased 44,622 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 ---------------- ---------- --------------- ---------------------- Frank Dunne 44,622 $0.835 155,940 0.047% --------------- ---------------- ---------- --------------- ----------------------
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 Frank Dunne 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) USD 0.835 per Ordinary Share 44,622 d) Aggregated information - Aggregated volume 44,622 - Total Price USD 37,259.37 e) Date of the transaction 11 December 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 Sanne Fund Services (Guernsey) Limited Matt Falla +44 20 3530 3107
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 Supra/Ultramax 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 currently numbers 19 vessels in the geared dry bulk segment. The ships are employed utilising a variety of employment/charter strategies.
On 20 December 2022, 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 has an owned fleet of 18 dry bulk vessels complementary to the Company's fleet. They are Japanese built, including 11 Handysize vessels and 7 Supra/Ultramax vessels. Grindrod has seven vessels in its chartered in fleet with purchase options on three.
The combined TMI and Grindrod fleet numbers 40 vessels (including chartered in vessels with purchase options).
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 Taylor Maritime. Taylor Maritime was established in 2014 as a privately owned ship-owning and management business with a seasoned team including 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). The commercial and technical management arms of Taylor Maritime were acquired by Grindrod in October 2023.
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
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END
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(END) Dow Jones Newswires
December 13, 2023 12:53 ET (17:53 GMT)
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