15 August 2024
Tufton Oceanic Assets Limited
(The "Company")
Director / PDMR Shareholding
Further to the announcement on 15 August 2024 in relation to the compulsory redemption of the Company's ordinary shares, Robert King, Steve Le Page, Christine Rødsaether, Trina Le Noury and Paul Barnes have each had Shares redeemed. The table below indicates their revised respective holdings:
| Shareholder | Previous position | No. of shares redeemed | New position | % ISC |
| Robert King | 60,000 | 4,189 | 55,811 | 0.021% |
| Steve Le Page | 41,268 | 2,881 | 38,387 | 0.014% |
| Christine Rodsaether | 30,000 | 2,094 | 27,906 | 0.010% |
| Trina Le Noury | 5,000 | 349 | 4,651 | 0.002% |
| Paul Barnes | 5,000 | 349 | 4,651 | 0.002% |
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 | Robert King | ||||
| 2 | Reason for the notification | |||||
| (a) | Position/status | Director of Tufton Oceanic Assets Limited | ||||
| (b) | Initial notification /Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| (a) | Name | Tufton Oceanic Assets Limited | ||||
| (b) | LEI | 213800L1N2V3FVNOSY44 | ||||
| 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 Identification code | Ordinary Shares of NPV
GG00BSFVPB94 | ||||
| (b) | Nature of the transaction | Compulsory partial redemption | ||||
| (c) | Price(s) and volume(s) |
| ||||
| (d) | Aggregated Information, Aggregated volume, Prices | Aggregated volume: 4,189 ordinary shares Volume weighted average price: US$1.550 | ||||
| (e) | Date of the transaction | 14 August 2024 | ||||
| (f) | Place of the transaction | London Stock Exchange | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| (a) | Name | Steve Le Page | ||||
| 2 | Reason for the notification | |||||
| (a) | Position/status | Director of Tufton Oceanic Assets Limited | ||||
| (b) | Initial notification /Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| (a) | Name | Tufton Oceanic Assets Limited | ||||
| (b) | LEI | 213800L1N2V3FVNOSY44 | ||||
| 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 Identification code | Ordinary Shares of NPV
GG00BSFVPB94 | ||||
| (b) | Nature of the transaction | Compulsory partial redemption | ||||
| (c) | Price(s) and volume(s) |
| ||||
| (d) | Aggregated Information, Aggregated volume, Prices | Aggregated volume: 2,881 ordinary shares Volume weighted average price: US$1.550 | ||||
| (e) | Date of the transaction | 14 August 2024 | ||||
| (f) | Place of the transaction | London Stock Exchange | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| (a) | Name | Christine Rodsaether | ||||
| 2 | Reason for the notification | |||||
| (a) | Position/status | Director of Tufton Oceanic Assets Limited | ||||
| (b) | Initial notification /Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| (a) | Name | Tufton Oceanic Assets Limited | ||||
| (b) | LEI | 213800L1N2V3FVNOSY44 | ||||
| 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 Identification code | Ordinary Shares of NPV
GG00BSFVPB94 | ||||
| (b) | Nature of the transaction | Compulsory partial redemption | ||||
| (c) | Price(s) and volume(s) |
| ||||
| (d) | Aggregated Information, Aggregated volume, Prices | Aggregated volume: 2,094 ordinary shares Volume weighted average price: US$1.550 | ||||
| (e) | Date of the transaction | 14 August 2024 | ||||
| (f) | Place of the transaction | London Stock Exchange | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| (a) | Name | Trina Le Noury | ||||
| 2 | Reason for the notification | |||||
| (a) | Position/status | Director of Tufton Oceanic Assets Limited | ||||
| (b) | Initial notification /Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| (a) | Name | Tufton Oceanic Assets Limited | ||||
| (b) | LEI | 213800L1N2V3FVNOSY44 | ||||
| 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 Identification code | Ordinary Shares of NPV
GG00BSFVPB94 | ||||
| (b) | Nature of the transaction | Compulsory partial redemption | ||||
| (c) | Price(s) and volume(s) |
| ||||
| (d) | Aggregated Information, Aggregated volume, Prices | Aggregated volume: 349 ordinary shares Volume weighted average price: US$1.550 | ||||
| (e) | Date of the transaction | 14 August 2024 | ||||
| (f) | Place of the transaction | London Stock Exchange | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| (a) | Name | Paul Barnes | ||||
| 2 | Reason for the notification | |||||
| (a) | Position/status | Director of Tufton Oceanic Assets Limited | ||||
| (b) | Initial notification /Amendment | Initial Notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| (a) | Name | Tufton Oceanic Assets Limited | ||||
| (b) | LEI | 213800L1N2V3FVNOSY44 | ||||
| 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 Identification code | Ordinary Shares of NPV
GG00BSFVPB94 | ||||
| (b) | Nature of the transaction | Compulsory partial redemption | ||||
| (c) | Price(s) and volume(s) |
| ||||
| (d) | Aggregated Information, Aggregated volume, Prices | Aggregated volume: 349 ordinary shares Volume weighted average price: US$1.550 | ||||
| (e) | Date of the transaction | 14 August 2024 | ||||
| (f) | Place of the transaction | London Stock Exchange | ||||
For further information, please contact:
| Tufton Investment Management Ltd (Investment Manager) Andrew Hampson Nicolas Tirogalas | +44 (0) 20 7518 6700 |
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| Singer Capital Markets Advisory LLP James Maxwell, Alex Bond, Jalini Kalaravy (Corporate Finance) Alan Geeves, James Waterlow, Sam Greatrex (Sales) | +44 (0) 20 7496 3000 |
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| Hudnall Capital LLP Andrew Cade | +44 (0) 20 7520 9085 |
LEI: 213800L1N2V3FVNOSY44
A copy of this announcement will be available on the Company's website at https://www.tuftonoceanicassets.com. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
About the Company
Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the objective of delivering strong cash flow and capital gains to investors. The Company's investment manager is Tufton Investment Management Ltd. The Company has raised a total of approximately $316.5m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange on 20 December 2017 and subsequent capital raises.
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