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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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(Sharecast News) - Taylor Maritime Investments announced a proposal by its subsidiary, Grindrod Shipping Holdings, to conduct selective capital reduction on Friday.
Read moreTaylor Maritime Investments Ltd - specialist dry bulk shipping company - Chief Executive Edward Buttery buys 200,000 shares at USD0.98 each. Worth USD196,000. Buttery now holds 615,000 shares.
Read more(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Thursday and Friday and not separately reported by Alliance News:
Read more(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and Wednesday and not separately reported by Alliance News:
Read moreTaylor Maritime Investments Ltd - Guernsey-registered specialist dry bulk shipping investor - Net asset value per share is USD1.3117 on September 30, the end of the company's financial first half, down 34% from USD1.7144 on March 31. Total net assets are USD433.2 million, down from USD566.1 million in March. NAV total return for the recent six months is negative 21%. Half-year pretax loss is USD120.1 million, swung from a USD7.6 million profit a year before. Declares quarterly dividend of 2 US cents, unchanged on a year before, as it continues to target an 8p dividend for the full year, also unchanged. Looking ahead to 2024, Taylor Maritime says the expected restocking of historically low inventories of bulk commodities globally should partially offset the damping effect on shipping demand caused by higher interest rates. Taylor Maritime's fleet following its acquisition of Grindrod Shipping in South Africa earlier this year is 44 vessels.
Read moreTaylor Maritime Investments Ltd - specialist dry bulk shipping company - Announces the sale of a 2004-built 34,000 deadweight tonne Handysize vessel for USD7.8 million, generating an internal rate of return of 44%. Further, adds that a previously announced sale of a 2007-built 33,000 deadweight tonne vessel completed earlier this month, generating gross proceeds of USD9.0 million. Taylor Maritime says that USD11.4 million of debt will be repaid by the end of the quarter to December 31 as a result of the sales. This will reduce the company's outstanding debt to USD156.2 million.
Read moreTaylor Maritime Investments Ltd - Guernsey-based vessel investment company - Net asset value as at September 30 is USD1.31 per share, down from USD1.56 as at June 30. NAV total return for the quarter is negative 13.5%. Declares dividend of 2 US cents per share for the period, unchanged from the prior quarter. Taylor says main driver of NAV performance was a USD72.7 million decrease in fair value, due to softer asset values caused by a weaker charter market. Notes seven ship sales agreed or completed between Taylor and Grindrod Shipping Holdings Ltd, a Singapore-based shipping firm 83% owned by Taylor. Outstanding debt decreases to USD167.6 million as at September 30 from USD210.1 million as at June 30.
Read moreTaylor 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.
Read more(Alliance News) - Taylor Maritime Investments Ltd on Wednesday said it agreed to replace its existing revolving credit facility and acquisition facility with a new RCF with Nordea Bank Abp, Filial i Norge and Skandinaviska Enskilda Banken AB.
Read moreTaylor Maritime Investments Ltd - Guernsey-based vessel investment company - Non-executive Director & Chair Henry Strutt buys 74,000 shares at USD0.845, worth USD62,530, in London on Wednesday. This is the only shares Strutt holds, represents a 0.022% stake.
Read more(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
Read more(Alliance News) - Taylor Maritime Investments Ltd on Wednesday said it has appointed Henry Strutt as non-executive chair, effective from Thursday, replacing Interim Chair Frank Dunne.
Read more(Alliance News) - Grindrod Shipping Holdings Ltd said on Wednesday its interim Chief Executive Stephen Griffiths will retire at the end of this month to make way for Edward Buttery to take the helm at the recently acquired subsidiary.
Read more(Alliance News) - Taylor Maritime Investments Ltd on Tuesday said Chief Executive Officer Edward Buttery will be appointed CEO of its recently acquired subsidiary Grindrod Shipping Holdings Ltd, effective April 1.
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