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

Taylor MaritimeAnnouncement

11/10/2024 18:15

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RNS Number : 9584H  Taylor Maritime Investments Limited  11 October 2024

11 October 2024

 

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

 

The Company announces that Gordon French, Non-Executive Director, has
purchased 100,000 ordinary shares in the capital of the Company ("Ordinary
Shares") as follows:

 

 Director/PDMR    Ordinary Shares Acquired  Price per        Total Holding        % of the Company's

                                            Ordinary Share   following Purchase   issued share capital now held
  Gordon French   100,000                   US$1.015         100,000              0.030%

 

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                                                         Gordon French

 2    Reason for the notification

 a)   Position/status                                              Non-Executive Director

 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

                                                                   Purchase not linked to a share option programme
 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)

                                                                                     USD1.015          100,000

 d)   Aggregated information

      - Aggregated volume                                          100,000 shares
      - Total Price                                                USD 101,500.00

 e)   Date of the transaction                                      10 October 2024

 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

 Apex Group                               +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.  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 32 dry bulk vessels, consisting of 25 Handysize vessels and seven
Supra/Ultramax vessels.  The Company also has seven vessels in its chartered
in fleet with purchase options on three. 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.

The Company has the benefit of an experienced Executive Team led by Edward
Buttery and who previously worked closely together at Taylor Maritime.
 Taylor Maritime was established in 2014 as a privately owned ship-owning and
management business with a seasoned team including 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).  The commercial and
technical management arms of Taylor Maritime were acquired by Grindrod in
October 2023.

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
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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