Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Agrees to sell 2004-built Handysize vessel for USD11.6 million. Says sale will generate internal rate of return of 200%.
"The vessel, at 18 years old, is the oldest vessel in TMI's fleet and the sale is part of the company's stated policy to improve the efficiency of the overall fleet," company says. Adds: "Immediately following the sale, the leasing company will enter into a bareboat lease agreement with a consortium of investors, including minority interests held by Non-Executive Director Christopher Buttery."
Current stock price: 110.00 pence
12-month change: up 48%
By Paul McGowan; paulmcgowan@alliancenews.com
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Taylor Maritim (TMI)
Taylor Maritim (TMIP)