Tufton Oceanic Assets Ltd. 2Q22 Estimated Net Asset Value and Update (5368R)
July 07 2022 - 1:00AM
UK Regulatory
TIDMSHIP TIDMSHPP
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
(GBP368.36 million) and the estimated unaudited NAV per ordinary
share was $1.449 (GBP1.194). 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 +44 (0) 20 7518 6700
Manager)
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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END
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