6 March
2024
Taylor Maritime Investments
Limited (the "Company")
Director/PDMR
Shareholding
The Company announces that Charles
Maltby, Non-Executive Director, has purchased 115,000 ordinary
shares in the capital of the Company ("Ordinary Shares") as
follows:
|
Director/PDMR
|
Ordinary Shares Acquired
|
Price per
Ordinary Share
|
Total Holding
following Purchase
|
%
of the Company's
issued share capital now held
|
|
Charles Maltby
|
62,144
21,186
14,091
17,579
|
GBP0.706
GBP0.708
GBP0.71
GBP0.711
|
155,000
|
0.035%
|
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
|
Charles Maltby
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Non-Executive Director
|
|
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
|
Purchase
Purchase not linked to a share
option programme
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
GBP0.706
GBP0.706
GBP0.706
GBP0.708
GBP0.711
GBP0.710
GBP0.706
|
17,725
21,260
17,725
21,186
17,579
14,091
5,434
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
115,000
|
|
- Total Price
|
GBP 81,370.93
|
|
|
|
|
e)
|
Date of the transaction
|
4 March 2024; and
5 March 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|
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 on the Premium
Segment of the Official List, 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. TMI's
fleet portfolio currently numbers 19 vessels in the geared dry bulk
segment. The ships are employed utilising a variety of
employment/charter strategies.
On 20 December 2022, the Company
announced it acquired a controlling majority interest in Grindrod
Shipping Holdings Ltd ("Grindrod") (NASDAQ:GRIN, JSE:GSH), a
Singapore incorporated, dual listed company on NASDAQ and the
Johannesburg Stock Exchange. Grindrod has an owned fleet of
18 dry bulk vessels complementary to the Company's fleet excluding
vessels held for sale. They are Japanese built, including 11
Handysize vessels and 7 Supra/Ultramax vessels. Grindrod has
seven vessels in its chartered in fleet with purchase options on
three.
The combined TMI and Grindrod fleet
numbers 40 vessels (including chartered
in vessels with purchase options).
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) (listed in Oslo BWEK:NO). 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