REG - Taylor Maritime Ltd Taylor Maritime -TMI - Capital Return, Vessel Sale, Strategy Update

Taylor MaritimeAnnouncement

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RNS Number : 3880X  Taylor Maritime Limited  20 March 2026

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law
(as defined in the European Union (Withdrawal) Act 2018). On the publication
of this announcement via a regulatory information service, this inside
information is now considered to be in the public domain.

 

 

20 March 2026

 

Taylor Maritime Limited (the "Company" or "TML")

 

Proposed Second Return of Capital by way of Partial Compulsory Redemption of
Ordinary Shares

 

Further to the return of approximately $143.4 million to shareholders in
February 2026, the Board of Taylor Maritime Limited, the specialist dry bulk
shipping company, is pleased to announce its intention to undertake a second
return of capital of a minimum $30 million in Q2 2026 by way of a partial
compulsory redemption of ordinary shares.

 

Details, including the total redemption amount, redemption price, timetable
and other terms will be included in the Company's 31 March 2026 quarterly
trading update, expected to be announced by the end of April 2026.  The
second return of capital will be made in addition to the planned regular
quarterly dividend of 2.00 US cents per share for the period ending 31 March
2026, maintaining the dividend target for the financial year-ending 31 March
2026 of 8 cents per share. The Board is considering the Company's dividend
policy for the next financial year and a further announcement will be made in
due course.

 

Previously announced vessel sale completed

 

The previously agreed (and announced on 17 February 2026) sale of a Handysize
vessel has now completed, generating gross proceeds of $17.0 million.

 

Future strategy and further returns of capital to shareholders

 

The Board has followed the strategy outlined in the interim report announced
on 12 December 2025: to monitor the shipping market for risks as well as
opportunities whilst maintaining flexibility as part of its considerations
concerning the future strategic direction of the Company.

 

Having considered feedback from shareholders, ongoing macro-economic market
volatility and the absence of suitable near-term investment opportunities, the
Board believes that it is in shareholders' best interests to continue to
pursue the managed realisation of the Company's assets. This will prioritise
the maximisation of proceeds from vessel sales over time and present further
opportunities for returns of capital to shareholders whilst maintaining
sufficient working capital for the Company's operations.

 

A further update will be provided in due course.

 

 

Commenting on the realisation strategy, Henry Strutt, Chairman, said:

 

"After consideration, the Board has decided that the most appropriate way
forward is to continue with asset realisations; pursuing a managed strategy to
maximise value for shareholders. Whilst the Board and management team will
seek to pursue this strategy in an efficient manner, the timing of disposals
and subsequent returns of capital will be influenced by market conditions and
commercial factors."

 

ENDS

 

 For further information, please contact:

Taylor Maritime Limited              IR@taylormaritime.com

 Edward Buttery

 Kael O'Sullivan

 Jefferies International Limited      +44 20 7029 8000

 Stuart Klein

 Gaudi Le Roux

 Panmure Liberum Limited              +44 20 3100 2190

 Chris Clarke

 Nicholas How

 

The person responsible for arranging for the release of this announcement on
behalf of the Company is Matt Falla, Company Secretary.

 

Notes to Editors

 

About the Company

Taylor Maritime Limited is a shipping company listed under the equity shares
(commercial companies) category of the Official List, with its shares trading
on the Main Market of the London Stock Exchange since May 2021.  Between May
2021 and February 2025, the Company was listed under the closed-ended
investment funds category of the Official List.

The Company is focused on navigating shipping market cycles on behalf of its
shareholders, leveraging a dynamic and experienced management team with deep
relationships in the industry and an agile business model underpinned by low
leverage and financial flexibility, to deliver long-term attractive returns
through both income and capital appreciation.

The Company, through its subsidiaries, currently has an owned fleet of 6 dry
bulk vessels consisting of 4 Handysize vessels and 2 Supra/Ultramax vessels.
The Company also has 1 vessel under JV agreement and 3 vessels in its
chartered in fleet.  The ships are employed utilising a mix of time charter,
voyage charter, and Contracts of Affreightment ("CoAs") to optimise fleet
earnings and cargo coverage.

The Company's target dividend policy is 8 cents p.a. paid on a quarterly
basis.

For more information, please visit www.taylormaritime.com
(http://www.taylormaritime.com/) .

About Geared Vessels

Geared vessels are characterised by their own cargo 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.

LEI: 213800FELXGYTYJBBG50

 

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