REG - Taylor Maritime Ltd Taylor Maritime -TMI - Publication of Circular, Notice of General Meeting

Taylor MaritimeAnnouncement

09/01/2026 07:00

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RNS Number : 2445O  Taylor Maritime Limited  09 January 2026

9 January 2026

 

Taylor Maritime Limited

 

Recommended Amendments to the Articles of Incorporation

 

Publication of Circular and Notice of General Meeting

 

 

On 12 December 2025 the Board of Taylor Maritime Limited ("TML" or the
"Company"), the listed specialist dry bulk shipping company, announced its
intention to distribute approximately $143.4 million to shareholders with the
expectation that such return will be made by way of a partial compulsory
redemption of ordinary shares.

 

The Board is pleased to announce that a circular (the "Circular") setting out
proposed amendments to the Company's Articles of Incorporation (the
"Articles") to facilitate such transaction is expected to be published and
posted to shareholders today and when published will be available on the
Company's website at
https://www.taylormaritime.com/investor-centre/general-meetings/
(https://www.taylormaritime.com/investor-centre/general-meetings/) and on the
National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

The Circular sets out, among other things, a notice of a general meeting to be
held on 27 January 2026 (the "General Meeting") at which a special resolution
to approve amendments to the Articles required to permit the Board, at its
discretion, to return capital to shareholders by way of compulsory partial
redemptions of the Company's ordinary shares pro rata to each shareholder's
holding, will be considered.

 

The redemption price for the proposed compulsory redemption will be fixed by
the Board and is expected to be determined by reference to the 31 December
2025 net asset value (expected to be published on 22 January 2026), net of the
direct costs of the proposed compulsory redemption.

 

Conditional upon the passing of the resolution at the General Meeting and the
Board being able to give the necessary certificate(s) of solvency required by
the Companies (Guernsey) Law 2008, the expected timetable for the proposed
compulsory redemption is set out below:

 

 Publication of the Circular                                                   9 January 2026
 Announcement of details of the Proposed Compulsory Redemption (including the  22 January 2026
 Redemption Price)
 Latest time and date for receipt of Forms of Proxy or transmission of CREST   10:00 a.m. on 23 January 2026
 Proxy Instructions (as applicable)
 General Meeting                                                               10:00 a.m. on 27 January 2026
 Announcement of results of General Meeting                                    27 January 2026
 Record Date for Proposed Compulsory Redemption                                30 January 2026
 Redemption Date for Proposed Compulsory Redemption                            30 January 2026
 Redemption Ex Date and New ISIN enabled                                       2 February 2026
 Payment Date for Proposed Compulsory Redemption                               on or around 13 February 2026
 Note: Each of the times and dates in the expected timetable of events may be
 extended or brought forward without further notice. If any of the above times
 and/or dates change, the revised time(s) and/or date(s) will be notified to
 Shareholders by an announcement through a RIS provider. All times are London
 times.

 

Capitalised terms used in this announcement shall have the same meanings given
to them in the Circular unless otherwise defined herein.

 

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 current 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 thereof) 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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