18 December 2024
Taylor Maritime Investments Limited (the "Company")
Director/PDMR Shareholding
The Company announces that Trudi Clark, Non-Executive Director, has purchased 50,000 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 |
| Trudi Clark | 50,000
| USD0.99 | 120,000 | 0.036% |
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
| Trudi Clark | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Non-Executive 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
| 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) | | |
| | | $0.9898 | 50,000 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | 50,000 | ||||
| - Total Price | USD 49,490 | ||||
| | | ||||
| e)
| Date of the transaction
| 18 December 2024
| |||
| f)
| Place of the transaction
| London Stock Exchange
| |||
ENDS
| For further information, please contact:
| | ||||||
| | |
The person responsible for arranging for the release of this announcement on behalf of the Company is Matt Falla of Sanne Fund Services (Guernsey) Limited.
Notes to Editors
About the Company
Taylor Maritime Investments Limited is an internally managed investment company listed under the closed-ended investment funds category of the FCA's UK Listing Rules sourcebook (previously the Premium Segment of the Official List), with its shares trading on the Main Market of the London Stock Exchange since May 2021. As announced previously, the Company is proposing to transfer the Company's equity shares listing from the closed-ended investment funds category to the equity shares (commercial companies) category of the Official List. 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 and Japanese built.
The Company acquired a controlling stake in Grindrod Shipping Holdings Limited ("Grindrod") in December 2022 and, following a selective capital reduction which took effect on 16 August 2024, Grindrod became a wholly owned subsidiary of the Company and was delisted from each of Nasdaq and the JSE. As a result, the Company, through its subsidiaries, currently has an owned fleet of 31 dry bulk vessels consisting of 21 Handysize vessels (including one vessel held for sale) and ten Supra/Ultramax vessels (including one vessel under a JV agreement and one long-term chartered in vessel with purchase option). The Company also has six vessels in its short-term chartered in fleet. The ships are employed utilising a variety of employment/charter strategies.
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.
For more information, please visit www.taylormaritimeinvestments.com.
About Geared Vessels
Geared vessels are characterised by their own cargo loading and discharging 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
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