24 October
2024
Taylor Maritime Investments
Limited
Publication of Annual ESG
Report
The Board of Taylor Maritime
Investments Limited ("TMI"
or the "Company"), the
listed specialist dry bulk shipping investment company, is pleased
to announce it has released its third
annual Environmental, Social and Governance ("ESG") Report covering
the financial year ended 31 March 2024. The Report has been
published on the Company's website, www.taylormaritimeinvestments.com.
The Report highlights progress made
on TMI's sustainability priorities including decarbonisation,
social and community impact, and responsible business
practices.
The Report reflects TMI's commitment
to transparency and accountability. TMI's ESG disclosure follows
guidance from the Task Force on Climate-Related Financial
Disclosures, the Global Reporting Initiative, and the
Sustainability Accounting Standards Board.
ENDS
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For further information, please
contact:
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Taylor Maritime Investments
Limited
Edward
Buttery
Camilla Pierrepont
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IR@tminvestments.com
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Jefferies International
Limited
Stuart Klein
Gaudi Le Roux
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+44 20 7029 8000
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Apex Group
Matt Falla
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+44 20 3530 3107
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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, consisting of 25 Handysize vessels and seven
Supra/Ultramax vessels. The Company also has seven vessels in
its long term chartered in fleet with purchase options on three.
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 loading 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