Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Agrees to sell a 2009 built handysize vessel for USD17.2 million. Vessel was an IPO seed asset and the sale is expected to generate an internal rate of return of 80%, representing a 8% premium to its March 31 fair market value. Once the sale completes, the fleet will comprise of 27 ships with no further vessels currently contracted for sale.
Separately, company agrees with the unnamed buyer to cancel the vessel sales previously announced on March 30. The vessel's value has increased by more than 10% over the sale price.
Current stock price: USD1.27, up 0.8% in London
12-month change: up 20%
By Heather Rydings; heatherrydings@alliancenews.com
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Taylor Maritim (TMI)
Taylor Maritim (TMIP)