Taylor Maritime Investments Ltd - Guernsey-based vessel investment company - Subsidiary Grindrod Shipping Holdings Ltd confirms timings of its proposed capital reduction. Explains it will result in a cash distribution of $32.44 million in two tranches; the first distribution of USS1.016 per share, payable on October 26, and the second distribution of $0.63 per ordinary share, payable on December 11. Of the total cash distribution, $26.68 million would be payable to TMI in line with its 83.23% ownership and is expected to be used to further reduce debt and for general corporate purposes.

Current stock price: $0.90

12-month change: down 27%

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