REG - Tufton Oceanic Asset Tufton Oceanic -SHPP - Compulsory Redemption of Shares and Voting Rights

Tufton AssetsAnnouncement

15/08/2024 07:00

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RNS Number : 5117A  Tufton Oceanic Assets Ltd.  15 August 2024

15 August 2024

Tufton Oceanic Assets Limited

(The "Company")

Compulsory Redemption of Shares and Total Voting Rights

Further to the announcement on 17 July 2024, the Company announces that it has
compulsorily redeemed 20,326,211 ordinary shares ("Shares") at a price of
US$1.550 per Share at close of business on 14 August 2024 for cancellation.

On this basis, a holder of 100,000 Shares had 6,983 Shares redeemed, and
received US$10,823.65 in cash.

Fractions of Shares have not been redeemed and so the number of Shares
redeemed from each Shareholder has been rounded down to the nearest whole
number of Shares.

The new ISIN number GG00BSFVPB94 in respect of the Shares that have not been
redeemed has been enabled and is available for transactions from 8.00 a.m. UKT
today.

In conformity with the FCA's Disclosure Guidance and Transparency Rules
("DTRs"), following the redemption and cancellation, the Company's issued
share capital consists of 270,756,330 Shares in issue with voting rights and
17,546,000 Shares held in treasury.

This figure 270,756,330 represents the total voting rights in the Company and
may be used by Shareholders as the denominator for the calculations by which
they can determine if they are required to notify their interest in, or a
change to their interest in the Company under the DTRs.

It is expected that the proceeds of the redemption will be paid through CREST
to holders of Shares in uncertificated form, or electronically to holders of
Shares in certificated form, on 28 August 2024. Holders of Shares in
certificated form having elected to receive payment by cheque will be paid in
the week commencing 26 August 2024.

Capitalised terms used but not defined in this announcement will have the same
meaning as set out in the circular of the Company published on 20 May 2024.

 New ISIN: GG00BSFVPB94  USD Quote  GBX Quote
 SEDOL                   BSFXP71    BSFVPB9
 TIDM                    SHIP       SHPP

 

For further information, please contact:

 

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

 Andrew Hampson

 Nicolas Tirogalas

 Singer Capital Markets Advisory LLP                                            +44 (0) 20 7496 3000

 James Maxwell, Alex Bond, Jalini Kalaravy (Corporate Finance)

 Alan Geeves, James Waterlow, Sam Greatrex (Sales)

 Hudnall Capital LLP                                                              +44 (0) 20 7520 9085

 Andrew Cade

 

LEI: 213800L1N2V3FVNOSY44

A copy of this announcement will be available on the Company's website
at https://www.tuftonoceanicassets.com. Neither the content of the Company's
website, nor the content on any website accessible from hyperlinks on its
website for any other website, is incorporated into, or forms part of, this
announcement nor, unless previously published by means of a recognised
information service, should any such content be relied upon in reaching a
decision as to whether or not to acquire, continue to hold, or dispose of,
securities in the Company.

 

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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