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

Taylor MaritimeAnnouncement

16/01/2023 07:00

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RNS Number : 7441M  Taylor Maritime Investments Limited  16 January 2023

16 January 2023

 

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

 

The Company announces that Frank Dunne, Interim Chair, has purchased 32,555
ordinary shares in the capital of the Company ("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

 Frank Dunne    32,555                    $1.09                     42,416                            0.013

 

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                                                         Frank Dunne

 2    Reason for the notification

 a)   Position/status                                              Interim Chair

 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$1.09 per Ordinary Share  32,555

 d)   Aggregated information

      - Aggregated volume                                          32,555
      - Total Price                                                US$35,484.95

 e)   Date of the transaction                                      13 January 2023

 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

 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 26 vessels in the geared dry bulk
segment.  The ships are employed utilising a variety of employment/charter
strategies.

 

On 29 November, the Company announced it had acquired a controlling interest
in Grindrod Shipping Holdings Ltd ("Grindrod") (NASDAQ:GRIN,
JSE:GSH).  Grindrod is Singapore incorporated and dual listed on NASDAQ
and the Johannesburg Stock Exchange.  Grindrod owns 25 smaller, geared
vessel categories complementary to those of the Company's fleet.  They are
mostly Japanese built, including 15 Handysize vessels and 10 Supramax and
Ultramax vessels.  Grindrod also has six vessels in its chartered in fleet
with purchase options on four.

 

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.

 

 

 

 

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