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Share Name Share Symbol Market Type Share ISIN Share Description
Tufton Oceanic Assets Limited LSE:SHIP London Ordinary Share GG00BDFC1649 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.01 0.94% 1.07 1.05 1.07 1.065 1.06 1.06 165,450 16:35:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.4 -1.2 -0.5 - 289

Tufton Oceanic Assets Ltd. New Bulker Investment and Containership Charter

15/04/2021 7:00am

UK Regulatory (RNS & others)


Tufton Oceanic Assets (LSE:SHIP)
Historical Stock Chart


From Mar 2021 to May 2021

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TIDMSHIP

RNS Number : 5061V

Tufton Oceanic Assets Ltd.

15 April 2021

15 April 2021

Tufton Oceanic Assets Limited (The "Company")

$14.3m Investment in one Handysize Bulk Carrier

and new charter for the Containership Swordfish

The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is pleased to announce that:

(i) the Company has acquired a Handysize Bulk Carrier for $14.3m. This acquisition takes the Company's fleet to twenty-two vessels. The vessel has a fixed rate time charter for eleven to thirteen months to a large maritime transport and logistics company. The yield during the charter exceeds the targets expressed in the Company's prospectus dated 25 September 2018.

This investment is funded from the tap issue proceeds announced on 25 March 2021.

(ii) the Company has successfully renewed the employment for the Containership Swordfish with a fixed rate time charter for fifteen to seventeen months from the end of May 2021 at a yield substantially higher than the containership run rate yield of 14.7% reported in the 4Q20 Fact Sheet.

Tufton Investment Management 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 Investment Management Ltd (Investment 
  Manager) 
  Andrew Hampson 
  Paulo Almeida                                                   +44 (0) 20 7518 6700 
 
 N+1 Singer 
  James Maxwell, Alex Bond (Corporate Finance) 
  Alan Geeves, James Waterlow, Sam Greatrex 
  (Sales)                                                         +44 (0) 20 7496 3000 
 
 Hudnall Capital LLP 
  Andrew Cade                                                     +44 (0) 20 7520 9085 
 

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 Investment Management Ltd. The Company has raised a total of approximately $265m (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, a placing in September 2019 and a tap issue in March 2021.

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.

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END

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April 15, 2021 02:00 ET (06:00 GMT)

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