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

Taylor MaritimeAnnouncement

07/11/2024 12:45

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RNS Number : 4010L  Taylor Maritime Investments Limited  07 November 2024

7 November 2024

 

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

 

The Company announces the vesting of ordinary shares in the capital of the
Company ("Ordinary Shares") awarded to Edward Buttery (Chief Executive
Officer) and Yam Lay Tan (Chief Financial Officer) as follows:

 

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

                                             Ordinary Share   following Acquisition   issued share capital now held
  Edward Buttery   835,600                   USD1.06          1,450,600               0.439%
 Yam Lay Tan       469,301                   USD1.06          469,301                 0.142%

 

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                                              Chief Executive 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                                                          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                                    Receipt of vested award shares transferred from the Company's Employee Benefit

                                                            Trust.

 c)   Price(s) and volume(s)

                                                                                         Price(s)              Volume(s)
                                                                                         $1.06                 835,600

 d)   Aggregated information

      - Aggregated volume                                          835,600
      - Total Price                                                USD 885,736

 e)   Date of the transaction                                      27 September 2024

 f)   Place of the transaction                                     London Stock Exchange (off market)

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Yam Lay Tan

 2    Reason for the notification

 a)   Position/status                                              Chief Financial 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                                                          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                                    Receipt of vested award shares transferred from the Company's Employee Benefit

                                                            Trust.

 c)   Price(s) and volume(s)

                                                                                         Price(s)              Volume(s)
                                                                                         $1.06                 469,301

 d)   Aggregated information

      - Aggregated volume                                          469,301
      - Total Price                                                USD 497,459

 e)   Date of the transaction                                      16 September 2024

 f)   Place of the transaction                                     London Stock Exchange (off market)

 

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

 Sanne Fund Services (Guernsey) Limited   +44 (0) 203 530 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, including vessels held for sale, consisting of 24
Handysize vessels and eight Supra/Ultramax vessels.  The Company also has six
vessels in its chartered in fleet with purchase options on two. 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 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

 

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