REG - Taylor Maritime Taylor Maritime -TMI - Publication of Annual ESG Report

Taylor MaritimeAnnouncement

20/10/2023 07:00

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RNS Number : 7337Q  Taylor Maritime Investments Limited  20 October 2023

20 October 2023

 

Taylor Maritime Investments Limited (the "Company" or "TMI")

 

Publication of Annual ESG Report

 

Taylor Maritime Investments Limited ("TMI" or the "Company"), the listed
specialist dry bulk shipping company, is pleased to announce it has released
its second annual Environmental, Social and Governance ("ESG") Report covering
the financial year ended 31 March 2023. The Report has been published on the
Company's website, www.taylormaritimeinvestments.com
(http://www.taylormaritimeinvestments.com/) .

 

The Report highlights progress made on TMI's sustainability priorities
including decarbonisation, social and community impact, and responsible
business practices.

 

The Report reflects TMI's commitment to transparency and accountability. This
year the Company obtained independent assurance of its greenhouse gas
emissions, as well as completing a more comprehensive Scope 3 emissions
measurement.  TMI's ESG disclosure follows guidance from the Task Force on
Climate-related Disclosure, the Global Reporting Initiative, and the
Sustainability Accounting Standards Board.

 

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 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
Supra/Ultramax bulk carrier segments of the global shipping sector.  The
Company invests in a diversified portfolio of vessels which are primarily
second-hand.  TMI's fleet portfolio currently numbers 21 vessels in the
geared dry bulk segment.  The ships are employed utilising a variety of
employment/charter strategies.

 

On 20 December, the Company announced it acquired a controlling majority
interest in Grindrod Shipping Holdings Ltd ("Grindrod") (NASDAQ:GRIN,
JSE:GSH), a Singapore incorporated, dual listed company on NASDAQ and the
Johannesburg Stock Exchange.  Grindrod currently owns 20 dry bulk vessels
complementary to the Company's fleet.  They are mostly Japanese built,
including 13 Handysize vessels and 7 Supra/Ultramax vessels.  In addition,
Grindrod has seven vessels in its long-term chartered in fleet with purchase
options on three.

 

The combined TMI and Grindrod fleet numbers 48 vessels (including long-term
chartered in vessels).

 

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 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
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.

 

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