REG - Taylor Maritime Ltd Taylor Maritime -TMI - Compulsory Partial Redemption

Taylor MaritimeAnnouncement

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RNS Number : 8568P  Taylor Maritime Limited  22 January 2026

22 January 2026

 

Taylor Maritime Limited (the "Company" or "TML")

 

Compulsory Partial Redemption

 

The Board of TML, the specialist dry bulk shipping company, is pleased to
announce details of the Company's capital distribution, first announced on 12
December 2025, which is conditional on the amendments to the Company's
articles of Incorporation to be considered by the Company's shareholders at
the General Meeting being held on 27 January 2026.

 

The Board has resolved to make a capital distribution totalling US$
143,395,682 to the Company's shareholders by way of a compulsory partial
redemption of shares at a price of US$ 0.9441 per share (the "Compulsory
Redemption"). The amount to be applied to the Compulsory Redemption and the
redemption price per share have been determined by Board by reference to the
31 December 2025 net asset value, net of the direct costs of the Compulsory
Redemption.

 

The Compulsory Redemption will be affected pro rata to holdings on the share
register as at the close of business on 30 January 2026 (the "Redemption
Date"), being the record date for the Compulsory Redemption. Approximately 46
per cent. of the Company's issued share capital will be redeemed on the
Redemption Date (the "Redemption Ratio") equivalent to approximately
151,886,115 of the Company's issued shares. Fractions of shares produced by
the Redemption Ratio will not be redeemed, so the number of shares to be
compulsorily redeemed from each shareholder will be rounded down to the
nearest whole number of shares.

 

Payments of redemption monies are expected to be affected either through CREST
(in the case of shares held in uncertificated form) or by cheque (in the case
of shares held in certificated form) on or around 13 February 2026. Any
certificates currently in circulation will be superseded by a new certificate
which will be distributed to certificated shareholders representing the
balance of their shareholding in the Company after the Redemption Date.

 

The Company currently has 330,215,878 shares in issue. All of the shares
redeemed on the Redemption Date will be cancelled and accordingly will
thereafter be incapable of transfer by shareholders or reissue by the Company.

 

The shares will be disabled in CREST after close of business on the Redemption
Date and the existing ISIN number, GG00BP2NJT37, (the "Old ISIN") will expire.
The new ISIN number, GG00BTZC2850, (the "New ISIN") in respect of the
remaining shares which have not been compulsorily redeemed will be enabled and
available for transactions from 8.00 a.m. on 2 February 2026. The share price
TIDM, "TMIP" and "TMI", will remain unchanged. For the period up to and
including the Redemption Date, shares will be traded under the Old ISIN and as
such, a purchaser of such shares may have a market claim for a proportion of
the redemption proceeds following the activation of the New ISIN. CREST will
automatically transfer any open transactions as at the Redemption Date to the
New ISIN.

 

As the Compulsory Redemption remains conditional on shareholders approving the
resolution at the General Meeting, a further announcement will be released
following the General Meeting on 27 January 2026 confirming the results of the
shareholder vote.

 

ENDS

 

 For further information, please contact:

Taylor Maritime Limited              IR@taylormaritime.com

 Edward Buttery

 Kael O'Sullivan

 Jefferies International Limited      +44 20 7029 8000

 Stuart Klein

 Gaudi Le Roux

 Panmure Liberum Limited              +44 20 3100 2190

 Chris Clarke

 Nicholas How

 

The person responsible for arranging for the release of this announcement on
behalf of the Company is Matt Falla, Company Secretary.

 

Notes to Editors

 

About the Company

Taylor Maritime Limited (formerly Taylor Maritime Investments Limited) is a
shipping company listed under the equity shares (commercial companies)
category of the Official List, with its shares trading on the Main Market of
the London Stock Exchange since May 2021.  Between May 2021 and February
2025, the Company was listed under the closed-ended investment funds category
of the Official List.

The Company is focused on navigating shipping market cycles on behalf of its
shareholders, leveraging a dynamic and experienced management team with deep
relationships in the industry and an agile business model underpinned by low
leverage and financial flexibility, to deliver long-term attractive returns
through both income and capital appreciation.

The Company, through its subsidiaries, currently has an owned fleet of 8 dry
bulk vessels (including 1 vessel held for sale) consisting of 6 Handysize
vessels and 2 Supra/Ultramax vessels.  The Company also has 1 vessel under JV
agreement and 4 vessels in its chartered in fleet.  The ships are employed
utilising a mix of time charter, voyage charter, and Contracts of
Affreightment ("CoAs") to optimise fleet earnings and cargo coverage.

The Company's target dividend policy is 8 cents p.a. paid on a quarterly
basis.

For more information, please visit www.taylormaritime.com
(http://www.taylormaritime.com/) .

About Geared Vessels

Geared vessels are characterised by their own cargo 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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