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Last checked at 
28 May 2021 16:00
28 May 2021
Taylor Maritime Investments Limited (the "Company")
Director/PDMR Shareholding
Further to the announcement on 27 May 2021, the Company announces that interests in the below ordinary shares in the capital of the Company ("Ordinary Shares") were acquired by Directors and PDMRs of the Company in connection with the admission of its ordinary shares to premium listing and trading on the Main Market of the London Stock Exchange ("Admission") and related completion of certain seed asset acquisition agreements, which completed on Admission:
Director/PDMR | Number of Shares subscribed for cash on Admission* | Number of shares received on completion of Initial Seed Asset Acquisition Agreements on Admission | Total Holding Following Admission | % of the Company's issued share capital held |
Edward Buttery | 0 | 180,001** | 180,001 | 0.071 |
Trudi Clark | 40,000 | 0 | 40,000 | 0.016 |
Nicholas Lykiardopulo | 2,000,000*** | 0 | 2,000,000** | 0.788 |
Sandra Platts | 42,261 | 0 | 42,261 | 0.017 |
Camilla Pierrepont**** | 0 | 20,000 | 20,000 | 0.008 |
* Includes Ordinary Shares either acquired directly or through an interest in the vendors
** Edward Buttery is expected to receive a further 80,000 Ordinary Shares on completion of the remaining seed asset acquisition agreements which are expected to complete at a later date. Also includes one Ordinary Share issued on incorporation.
*** Nicholas Lykiardopulo subscribed for 500,000 Ordinary Shares directly and an additional 1,500,000 Ordinary Shares were subscribed for by a trust of which Mr Lykiardopulo is a beneficiary .
**** Camilla Pierrepont is expected to receive a further 60,000 Ordinary Shares on completion of the Remaining Seed Asset Acquisition Agreements, which are expected to complete at a later date.
Christopher Buttery , a Director, is also expected to have an interest in 170,000 Ordinary Shares on completion of the Remaining Seed Asset Acquisition Agreements, which are expected to complete at a later date, and he has a non-controlling interest in a significant shareholder, Taylor Point (MI) Limited.
Alexander Slee, a PDMR, is also expected to have an interest in 60,000 Ordinary Shares on completion of the Remaining Seed Asset Acquisition Agreements, which are expected to complete at a later date.
The relevant notifications set out below are provided in accordance with the requirements of the Market Abuse Regulation.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Edward Buttery | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Director / CEO of the Commercial Manager | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Taylor Maritime Investments Limited | |||
b)
| LEI
| 213800K6VJ62SKV9VL48 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary USD shares | |||
|
| ||||
Identification code (ISIN) | GG00BP2NJT37 | ||||
|
| ||||
b)
| Nature of the transaction
| Purchase | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| US$1 per share | 1 |
| |
|
| US$1 per share | 180,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 180,001 | ||||
- Total Price | US$180,001 | ||||
|
| ||||
e)
| Date of the transaction
| 27 May 2021 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Trudi Clark | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Director | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Taylor Maritime Investments Limited | |||
b)
| LEI
| 213800K6VJ62SKV9VL48 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary USD shares | |||
|
| ||||
Identification code (ISIN) | GG00BP2NJT37 | ||||
|
| ||||
b)
| Nature of the transaction
| Purchase | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| US$1 per share | 40,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 40,000 | ||||
- Total Price | US$40,000 | ||||
|
| ||||
e)
| Date of the transaction
| 27 May 2021 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Nicholas Lykiardopulo | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Director | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Taylor Maritime Investments Limited | |||
b)
| LEI
| 213800K6VJ62SKV9VL48 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary USD shares | |||
|
| ||||
Identification code (ISIN) | GG00BP2NJT37 | ||||
|
| ||||
b)
| Nature of the transaction
| Purchase | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| US$1 per share | 500,000 |
| |
|
| US$1 per share | 1,500,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 2,000,000 | ||||
- Total Price | US$2,000,000 | ||||
|
| ||||
e)
| Date of the transaction
| 27 May 2021 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Sandra Platts | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Director | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Taylor Maritime Investments Limited | |||
b)
| LEI
| 213800K6VJ62SKV9VL48 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary USD shares | |||
|
| ||||
Identification code (ISIN) | GG00BP2NJT37 | ||||
|
| ||||
b)
| Nature of the transaction
| Purchase | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| US$1 per share | 42,261 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 42,261 | ||||
- Total Price | US$42,261 | ||||
|
| ||||
e)
| Date of the transaction
| 27 May 2021 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Camilla Pierrepont | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Strategy Officer of the Commercial Manager | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Taylor Maritime Investments Limited | |||
b)
| LEI
| 213800K6VJ62SKV9VL48 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary USD shares | |||
|
| ||||
Identification code (ISIN) | GG00BP2NJT37 | ||||
|
| ||||
b)
| Nature of the transaction
| Purchase | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Price(s) | Volume(s) |
| |
|
| US$1 per share | 20,000 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 20,000 | ||||
- Total Price | US$20,000 | ||||
|
| ||||
e)
| Date of the transaction
| 27 May 2021 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
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 |
Praxis Fund Services Limited Tom Daish Matt Falla | +44 (0)1481 737600 |
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.
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