REG - Taylor Maritime Taylor Maritime -TMI - Director/PDMR Shareholding

Taylor MaritimeAnnouncement

02/11/2022 16:45

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RNS Number : 1236F  Taylor Maritime Investments Limited  02 November 2022

2 November 2022

 

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

 

The Company announces that Edward Buttery, Executive Director and CEO, has
purchased 15,594 ordinary shares in the capital of the Company ("Ordinary
Shares") and Camilla Pierrepont, Chief Strategy Officer, has purchased 19,988
Ordinary Shares as follows:

 

 Director/PDMR       Ordinary Shares Acquired  Price per Ordinary Share  Total Holding following Purchase  % of the Company's issued share capital now held

 Edward Buttery      15,594                    £1.03                     385,000*                          0.117
 Camilla Pierrepont  2,888                     $1.18                     192,929                           0.058

17,100
$1.16

*includes an adjustment to account for an over-statement identified during the
period to Mr Buttery's previously disclosed shareholding of 464,888 (excluding
shares held by persons closely associated).

 

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

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Edward Buttery

 2    Reason for the notification

 a)   Position/status                                              Executive Director & CEO

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Taylor Maritime Investments Limited

 b)   LEI                                                          213800FELXGYTYJBBG50

 4    Details of the transaction(s): section to be repeated for (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 financial instrument, type of instrument  Ordinary shares

      Identification code (ISIN)                                   GG00BP2NJT37

 b)   Nature of the transaction                                    Purchase

 c)   Price(s) and volume(s)

                                                                                     Price(s)           Volume(s)
                                                                                     GBP1.03 per share  15,594

 d)   Aggregated information

      - Aggregated volume                                          15,594
      - Total Price                                                GBP15,989.79

 e)   Date of the transaction                                      31 October 2022

 f)   Place of the transaction                                     London Stock Exchange

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Camilla Pierrepont

 2    Reason for the notification

 a)   Position/status                                              Chief Strategy Officer

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Taylor Maritime Investments Limited

 b)   LEI                                                          213800K6VJ62SKV9VL48

 4    Details of the transaction(s): section to be repeated for (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 financial instrument, type of instrument  Ordinary shares

      Identification code (ISIN)                                   GG00BP2NJT37

 b)   Nature of the transaction                                    Purchase

 c)   Price(s) and volume(s)

                                                                                     Price(s)                    Volume(s)
                                                                                     US$1.18 per Ordinary Share  2,888
                                                                                     US$1.16 per Ordinary Share  17,100

 d)   Aggregated information

      - Aggregated volume                                          19,988
      - Total Price                                                US$23,243.84

 e)   Date of the transaction                                      31 October 2022

 f)   Place of the transaction                                     London Stock Exchange

 

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

 Montfort Communications                    TMI@montfort.london (mailto:TMI@montfort.london)

 Alison Allfrey

 George Morris Seers

 Sanne Fund Services (Guernsey) Limited     +44 1481 737600

 (formerly Praxis Fund Services Limited)

 Matt Falla

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 Supramax bulk carrier segments of the global shipping sector.
The Company invests in a diversified portfolio of vessels which are primarily
second-hand and which, historically, have demonstrated average yields in
excess of the Company's target dividend yield of 8% p.a. (on the Initial Issue
Price).  The current portfolio numbers 27 vessels in the geared dry bulk
segment (Handysize and Supramax types) (including one ship held for sale).
The ships are employed utilising a variety of employment/charter strategies.
 

 

The Company announced an increased interim dividend of 2 cents per Ordinary
Share paid on a quarterly basis on 28 July 2022, 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 the Commercial Manager,
Taylor Maritime.  Established in 2014, Taylor Maritime is a privately owned
ship-owning and management business with a seasoned team that includes 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).  Taylor Maritime's team of industry
professionals are based in Hong Kong, Singapore and London.

 

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

 

About Geared Vessels

 

Geared vessels are characterised by their own loading equipment. The Handysize
market segment is 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.

 

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