Last checked at 30 Jul 2021 16:30
30 July 2021
Taylor Maritime Investments Limited (the "Company")
Total Voting Rights
The Directors of the Company wish to announce that the Company has a total of 327,895,878 Ordinary Shares in issue, each with equal voting rights. This total voting rights figure can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority. For further information, please contact:
Taylor Maritime Investments Limited Edward Buttery Alexander Slee
| +852 2252 3882 |
Jefferies International Limited Investment Banking Stuart Klein Gaudi Le Roux
Sector coverage Doug Mavrinac Hugh Eden
| +44 20 7029 8000
|
Buchanan | |
Charles Ryland Henry Wilson Hannah Ratcliff | +44 20 7466 5107 +44 20 7466 5111 +44 20 7466 5102 |
LEI: 213800FELXGYTYJBBG50 |
NOTES:
About the Company
Taylor Maritime Investments Limited is a newly established, internally managed investment company listed on the Premium Segment of the Official List and traded on the Main Market of the London Stock Exchange. The Company will invest in a diversified portfolio of vessels which will primarily be second-hand and which, historically, have demonstrated average yields in excess of the Company's target dividend yield of 7% p.a. and are capable of being acquired at valuations that are expected to be below long-term average prices.
The Company's initial investments forming the Seed Portfolio comprise Geared Ships (Handysize and Supramax types) to be employed utilising a variety of employment/Charter strategies.
The Company intends to pay dividends on a quarterly basis with dividends declared in January, April July and October. The Company expects to declare its first dividend of 1.75 cents per Ordinary Share for the initial period ended 30 September 2021 in October 2021. Once the Company is fully invested, the Company will target a Total NAV Return of 10 to 12% p.a. (net of expenses and fees but excluding any tax payable by Shareholders) over the medium to long term[1].
The Company has the benefit of an experienced Executive Team led by Edward Buttery. The Executive Team have to date worked closely together for the Commercial Manager, Taylor Maritime. Established in 2014, Taylor Maritime is a privately owned ship-owning and management business with a seasoned team that includes 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). Taylor Maritime's team of experienced industry professionals are based in Hong Kong and London.
For more information, please visit www.taylormaritimeinvestments.com.
[1] The above references to dividends and returns are expectations and not profit forecasts and there can be no assurance that these will be met.