15 March
2024
Taylor Maritime Investments
Limited (the "Company")
Director/PDMR
Shareholding
The Company announces that Edward
Buttery, Chief Executive Officer, has purchased 200,000 ordinary
shares in the capital of the Company ("Ordinary Shares") as
follows:
Director/PDMR
|
Ordinary Shares Acquired
|
Price per
Ordinary Share
|
Total Holding
following Purchase
|
%
of the Company's
issued share capital now held
|
Edward Buttery
|
200,000
|
USD0.98
|
615,000
|
0.186%
|
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
|
Chief Executive Officer
|
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
|
213800FELXGYTYJBBG50
|
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 shares
|
|
|
Identification code
(ISIN)
|
GG00BP2NJT37
|
|
|
b)
|
Nature of the transaction
|
Purchase
Purchase not linked to a share
option programme
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
$0.98
|
200,000
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
- Aggregated volume
|
200,000
|
- Total Price
|
USD 196,000
|
|
|
e)
|
Date of the transaction
|
15 March 2024
|
f)
|
Place of the transaction
|
London Stock Exchange (off
market)
|
ENDS
For further information, please
contact:
Taylor Maritime Investments
Limited
Edward
Buttery
Camilla Pierrepont
|
IR@tminvestments.com
|
Jefferies International
Limited
Stuart Klein
Gaudi Le Roux
|
+44 20 7029 8000
|
Sanne Fund Services (Guernsey) Limited
Matt Falla
|
+44 (0) 203 530 3107
|
|
|
|
|
Notes to Editors
About the Company
Taylor Maritime Investments
Limited is an internally managed investment company listed on
the Premium Segment of the Official List, its shares trading on the
Main Market of the London Stock Exchange since May
2021. The Company specializes in the acquisition and
chartering of vessels in the Handysize and Supra/Ultramax bulk
carrier segments of the global shipping sector. The Company
invests in a diversified portfolio of vessels which are primarily
second-hand. TMI's fleet portfolio currently numbers 19
vessels in the geared dry bulk segment. The ships are
employed utilising a variety of employment/charter
strategies.
On 20 December 2022, the
Company announced it acquired a controlling majority interest in
Grindrod Shipping Holdings Ltd ("Grindrod") (NASDAQ:GRIN, JSE:GSH),
a Singapore incorporated, dual listed company on NASDAQ
and the Johannesburg Stock Exchange. Grindrod has an
owned fleet of 17 dry bulk vessels complementary to the Company's
fleet excluding vessels held for sale. They are Japanese
built, including 10 Handysize vessels and 7 Supra/Ultramax
vessels. Grindrod has seven vessels in its chartered in fleet
with purchase options on three.
The combined TMI and Grindrod fleet
numbers 39 vessels (including chartered in vessels with
purchase options and excluding vessels held for sale).
The Company's target dividend policy
is 8 cents p.a. paid on a quarterly basis, with a
targeted total NAV return of 10-12% per annum over the medium to
long-term.
The Company has the benefit of an
experienced Executive Team led by Edward Buttery and who
previously worked closely together at Taylor Maritime. Taylor
Maritime was established in 2014 as a privately owned ship-owning
and management business with a seasoned team including 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).
The commercial and technical management arms of Taylor Maritime
were acquired by Grindrod in October 2023.
For more information, please
visit www.taylormaritimeinvestments.com.
About Geared Vessels
Geared vessels are characterised by
their own loading equipment. The Handysize and Supra/Ultramax
market segments are particularly attractive, given the flexibility,
versatility and port accessibility of these vessels which carry
necessity goods - principally food and products related to
infrastructure building - ensuring broad diversification of fleet
activity and stability of earnings through the cycle.
IMPORTANT NOTICE
The information in this announcement
may include forward-looking statements, which are based on the
current expectations and projections about future events and in
certain cases can be identified by the use of terms such as "may",
"will", "should", "expect", "anticipate", "project", "estimate",
"intend", "continue", "target", "believe" (or the negatives
thereon) or other variations thereon or comparable terminology.
These forward-looking statements are subject to risks,
uncertainties and assumptions about the Company, including, among
other things, the development of its business, trends in its
operating industry, and future capital expenditures and
acquisitions. In light of these risks, uncertainties and
assumptions, the events in the forward-looking statements may not
occur.
References to target dividend yields
and returns are targets only and not profit forecasts and there can
be no assurance that these will be achieved
LEI: 213800FELXGYTYJBBG50