REG - Taylor Maritime Taylor Maritime -TMI - Amalgamation of Administrator

Taylor MaritimeAnnouncement

04/02/2025 13:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250204:nRSD8854Va&default-theme=true

RNS Number : 8854V  Taylor Maritime Investments Limited  04 February 2025

4 February 2025

Taylor Maritime Investments Limited (the "Company" or "TMI")

 

Amalgamation of Administrator

 

The Company announces that, effective 31 January 2025, the Company's appointed
Administrator and Company Secretary, Sanne Fund Services (Guernsey) Limited
(the "Administrator"), completed an amalgamation of corporate bodies pursuant
to Part VI of the Companies (Guernsey) Law, 2008 with Apex Fund and Corporate
Services (Guernsey) Limited (the "Amalgamation").  As a result of the
Amalgamation, the name of the Administrator and Company Secretary has changed
to Apex Fund and Corporate Services (Guernsey) Limited.  There are no further
material changes arising from the Amalgamation and all pre-existing
contractual arrangements in place between the Company and the Administrator
remain in force.

 

ENDS

 

 For further information, please contact:

Taylor Maritime Investments Limited                  IR@tminvestments.com (mailto:IR@tminvestments.com)

 Edward Buttery

 Camilla Pierrepont

 Jefferies International Limited                      +44 20 7029 8000

 Stuart Klein

 Gaudi Le Roux

 Apex Fund and Corporate Services (Guernsey) Limited  +44 20 3530 3107

 Matt Falla

 

Notes to Editors

 

About the Company

Taylor Maritime Investments Limited is an internally managed investment
company listed under the closed-ended investment funds category of the FCA's
UK Listing Rules sourcebook (previously the Premium Segment of the Official
List), with its shares trading on the Main Market of the London Stock Exchange
since May 2021. On 10 February 2025 the Company will transfer the listing
category of its shares from the closed-ended investment funds category to the
equity shares (commercial companies) category of the Official List. 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 and Japanese built.

The Company acquired a controlling stake in Grindrod Shipping Holdings Limited
("Grindrod") in December 2022 and, following a Selective Capital Reduction
which took effect on 16 August 2024, Grindrod became a wholly owned subsidiary
of the Company and was delisted from each of Nasdaq and the JSE.  As a
result, the Company, through its subsidiaries, currently has an owned fleet of
30 dry bulk vessels consisting of 20 Handysize vessels and 10 Supra/Ultramax
vessels (including one vessel under JV agreement).  The Company also has six
vessels in its chartered in fleet. The ships are employed utilising a variety
of employment/charter strategies.

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.

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

About Geared Vessels

Geared vessels are characterised by their own cargo loading and discharging
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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  APPFLFSVFFISIIE