15 November
2024
Taylor Maritime Investments
Limited (the "Company")
Director/PDMR
Shareholding
The following replaces the
announcement released at 12:32 on 7 November 2024 under RNS Number
4010L in its entirety. The announcement previously stated 'The
Price per Ordinary Share of USD1.06' This has been updated to
reflect the correct exercise price for awards over the ordinary
shares in the capital of the Company which were transferred after
vesting and exercise of the awards.
The Company announces the vesting
and exercise of awards over ordinary shares in the capital of the
Company ("Ordinary Shares")
granted to Edward Buttery (Chief Executive Officer) and Yam Lay Tan
(Chief Financial Officer) as follows:
|
Director/PDMR
|
Ordinary Shares Acquired
|
Price per
Ordinary Share
|
Total Holding
following Acquisition
|
%
of the Company's
issued share capital now held
|
|
Edward Buttery
|
835,600
|
Nil
|
1,450,600
|
0.439%
|
|
Yam Lay Tan
|
469,301
|
Nil
|
469,301
|
0.142%
|
The relevant notifications set out
below are provided in accordance with the requirements of the
Market Abuse Regulation.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Edward Buttery
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Taylor Maritime Investments
Limited
|
|
b)
|
LEI
|
213800FELXGYTYJBBG50
|
|
4
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument
|
Ordinary shares
|
|
|
|
|
Identification code
(ISIN)
|
GG00BP2NJT37
|
|
|
|
|
b)
|
Nature of the transaction
|
Receipt of award shares transferred
from the Company's Employee Benefit Trust following exercise of nil
cost options.
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Nil
|
835,600
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
835,600
|
|
- Total Price
|
Nil
|
|
|
|
|
e)
|
Date of the transaction
|
27 September 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange (off
market)
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Yam Lay Tan
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Financial Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Taylor Maritime Investments
Limited
|
|
b)
|
LEI
|
213800FELXGYTYJBBG50
|
|
4
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument
|
Ordinary shares
|
|
|
|
|
Identification code
(ISIN)
|
GG00BP2NJT37
|
|
|
|
|
b)
|
Nature of the transaction
|
Receipt of award shares transferred
from the Company's Employee Benefit Trust following exercise of nil
cost options.
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
Nil
|
469,301
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
469,301
|
|
- Total Price
|
Nil
|
|
|
|
|
e)
|
Date of the transaction
|
17 September 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange (off
market)
|
ENDS
|
For further information, please
contact:
|
Taylor Maritime Investments
Limited
Edward
Buttery
Camilla Pierrepont
|
IR@tminvestments.com
|
|
Jefferies International
Limited
Stuart Klein
Gaudi Le Roux
|
+44 20 7029 8000
|
|
Sanne Fund Services (Guernsey) Limited
Matt Falla
|
+44 (0) 203 530 3107
|
|
|
|
|
|
Notes to Editors
About the Company
Taylor Maritime Investments Limited
is an internally managed investment company listed under the
closed-ended investment funds category of the FCA's UK Listing
Rules sourcebook (previously the Premium Segment of the Official
List), with 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
Supra/Ultramax bulk carrier segments of the global shipping
sector. The Company invests in a diversified portfolio of
vessels which are primarily second-hand and Japanese
built.
The Company acquired a controlling
stake in Grindrod Shipping Holdings Limited ("Grindrod") in
December 2022 and, following a Selective Capital Reduction which
took effect on 16 August 2024, Grindrod became a wholly owned
subsidiary of the Company and was delisted from each of Nasdaq and
the JSE. As a result, the Company, through its subsidiaries,
currently has an owned fleet of 32 dry bulk vessels, including
vessels held for sale, consisting of 24 Handysize vessels and eight
Supra/Ultramax vessels. The Company also has six vessels in
its chartered in fleet with purchase options on two. The ships are
employed utilising a variety of employment/charter
strategies.
The Company's target dividend policy
is 8 cents p.a. paid on a quarterly basis, 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 Taylor Maritime. Taylor Maritime
was established in 2014 as a privately owned ship-owning and
management business with a seasoned team including 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). The commercial and technical management arms of
Taylor Maritime were acquired by Grindrod in October
2023.
For more information, please
visit www.taylormaritimeinvestments.com.
About Geared Vessels
Geared vessels are characterised by
their own cargo loading and discharging equipment. The Handysize
and Supra/Ultramax market segments are 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.
LEI: 213800FELXGYTYJBBG50