REG - Taylor Maritime Taylor Maritime -TMI - Dividend Currency Election

Taylor MaritimeAnnouncement

11/11/2022 12:15

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RNS Number : 1759G  Taylor Maritime Investments Limited  11 November 2022

11 November 2022

 

Taylor Maritime Investments Limited

(the "Company")

 

Dividend Currency Election

 

An announcement was made on 27 October 2022 regarding the dividend to be paid
on 25 November 2022 and the option for shareholders to elect to receive this
in sterling rather than US dollars.

 

The dividend rate per share to be used to pay shareholders who elected to
receive their dividend in sterling will be 1.713815 pence per share (2 US
cents per share converted into sterling using a USD/GBP rate of 1.166987).

 

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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