REG - Tufton Oceanic Asset Tufton Oceanic -SHPP - 3Q23 Net Asset Value and Dividend Declaration

Tufton AssetsAnnouncement

18/10/2023 07:00

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RNS Number : 4187Q  Tufton Oceanic Assets Ltd.  18 October 2023

18 October 2023

 

Tufton Oceanic Assets Limited

("Tufton Oceanic Assets" or the "Company")

3Q23 Net Asset Value and Dividend Declaration

 

Tufton Oceanic Assets announces that as at 30 September 2023 the unaudited net
asset value ("NAV") was $407.5 million (£333.9 million*) and the unaudited
NAV per ordinary share was $1.381 (£1.131*). The NAV total return for the
quarter was 2.8%.

 

The Company is pleased to announce a dividend of $0.02125 per ordinary share
for the quarter ending 30 September 2023. The dividend will be paid on 10
November 2023 to holders of ordinary shares recorded on the register as at
close of business on 27 October 2023 with an ex-dividend date of 26 October
2023.

The Company is forecast to have a dividend cover of c.1.6x over the next 18
months.

The Company advises that the default payment for dividends remains in US
Dollar, however, dividends are capable of being paid in GBP Sterling, provided
that the relevant shareholder has registered to receive their dividend in GBP
Sterling under the Company's Dividend Currency Election. A copy of the
Dividend Currency Election form, which should be sent to Computershare
Investor Services plc, The Pavilions, Bridgwater Road, Bristol, BS99 6BD no
later than 30 October 2023, is available on the Company's website
at  http://www.tuftonoceanicassets.com/company-documents/
(https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.tuftonoceanicassets.com%2Fcompany-documents&data=05%7C01%7Ckashyap.swamy%40tufton.com%7C8f86d2edaa5342029cee08da689d4418%7C25b63662790a469f88cd0aaecf159641%7C0%7C1%7C637937321912529957%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000%7C%7C%7C&sdata=I35vc%2FHh1tuwm%2Ffkwp%2FpQi5kYk2SdKNlIWnH7hOC%2Bl4%3D&reserved=0)
.

 

The Dividend Currency Election Form should only be completed by shareholders
who hold shares in certificated form. CREST shareholders must elect via
CREST. Non-CREST shareholders wishing to receive Company dividends by
electronic funds transfer directly to their bank accounts can register for
Computershare's Global Payment Service at  www.investorcentre.co.uk
(https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.investorcentre.co.uk%2F&data=05%7C01%7Ckashyap.swamy%40tufton.com%7C8f86d2edaa5342029cee08da689d4418%7C25b63662790a469f88cd0aaecf159641%7C0%7C1%7C637937321912529957%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000%7C%7C%7C&sdata=qPUyp2e1I83wrCiDdg9VpBHMdEwL%2F4a286TAH9ZXwL0%3D&reserved=0)

 

The Company's quarterly factsheet as at 30 September 2023 will shortly be
available on the Company's website in the Investor Relations section
at www.tuftonoceanicassets.com/quarterly-reports
(http://www.tuftonoceanicassets.com/quarterly-reports) .

 

*29 September 2023 closing mid-rate of USD/GBP 0.8193. Source: Morningstar

 

For further information, please contact:

 

 Tufton Investment Management Ltd (Investment Manager)                  +44 (0) 20 7518 6700

 Andrew Hampson

 Paulo Almeida

 Singer Capital Markets                                                +44 (0) 20 7496 3000

 James Maxwell, Alex Bond (Corporate Finance)

 Alan Geeves, James Waterlow, Sam Greatrex (Sales)

 Hudnall Capital LLP                                                     +44 (0) 20 7520 9085

 Andrew Cade

 

About the Company

Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand
commercial sea-going vessels with the objective of delivering strong cash flow
and capital gains to investors. The Company's investment manager is Tufton
Investment Management Ltd. The Company has raised a total of approximately
$316.5m (gross) through its Initial Public Offering on the Specialist Fund
Segment of the London Stock Exchange on 20 December 2017 and subsequent
capital raises.

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