Tufton Oceanic Asset Tufton Oceanic -SHPP - 2Q22 Estimated Net Asset Value and Update

Tufton Assets

07/07/2022 07:00

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RNS Number : 5368R  Tufton Oceanic Assets Ltd.  07 July 2022

 

7 July 2022

 

TUFTON OCEANIC ASSETS LIMITED

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

 

2Q22 Estimated Net Asset Value and Update

 

Tufton Oceanic Assets announces that as at 30 June 2022 the estimated
unaudited net asset value ("NAV") was $447.37 million (£368.36 million) and
the estimated unaudited NAV per ordinary share was $1.449 (£1.194). The NAV
total return for the quarter was 6.2%. The final NAV and 2Q22 Dividend will be
announced, and the 2Q22 Factsheet released, on 19 July 2022.

 

The strong performance over the second quarter is attributable to the strength
in the bulker market and the improving product and chemical tanker markets.
The continued strength in the tanker market is expected to increase the yields
from our two chemical tankers with partial market exposure, our product tanker
Marvelous which has full market exposure, and the asset values of our ten
tankers.

 

The Investment Manager will provide a market update during its webinar on 21
July 2022.

 

 

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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