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Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Subsidiary Grindrod Shipping Holdings Ltd confirms timings of its proposed capital reduction. Explains it will result in a cash distribution of USD32.44 million in two tranches; the first distribution of USS1.016 per share, payable on October 26, and the second distribution of USD0.63 per ordinary share, payable on December 11. Of the total cash distribution, USD26.68 million would be payable to TMI in line with its 83.23% ownership and is expected to be used to further reduce debt and for general corporate purposes.
Current stock price: USD0.90
12-month change: down 27%
By Jeremy Cutler, Alliance News reporter
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