REG - Taylor Maritime Taylor Maritime -TMI - Director Appointment

Taylor MaritimeAnnouncement

31/10/2022 07:16

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RNS Number : 5720E  Taylor Maritime Investments Limited  31 October 2022

31 October 2022

 

Taylor Maritime Investments Limited

Director Appointment

 

The Board of Taylor Maritime Investments Limited ("TMI" or the "Company"), the
listed specialist dry bulk shipping company, is pleased to announce that Frank
Dunne has been appointed as a non-executive Director and Senior Independent
Director of the Company with immediate effect.

 

Frank brings a wealth of legal experience from an extensive career with the
Maritime team at Watson Farley Williams ("WFW"), the specialist maritime,
aviation and energy law firm, working on a broad range of ship finance work,
investment transactions, restructurings, public market transactions and
listings. Frank served as Chairman of WFW from 2004 to 2017.

 

Nicholas Lykiardopulo, Chairman, commented:

 

"I am delighted to welcome Frank to the TMI Board at a pivotal time for the
Company and following a comprehensive recruitment process. His deep
understanding of maritime law broadens the skills and experience represented
on the Board, in addition to enhancing our governance framework by accepting
the appointment as Senior Independent Director."

 

 

No further disclosures are required for Frank Dunne in respect of paragraphs
9.6.13 of the Financial Conduct Authority's Listing Rules.

 

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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