Director/PDMR Shareholding

RNS Number : 5827F

Taylor Maritime Investments Limited

07 November 2022

 

7 November 2022

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

The Company announces that Chris Buttery, non-Executive Director, has purchased 50,000 ordinary shares in the capital of the Company ("Ordinary Shares") and Frank Dunne, Senior Independent Director, has purchased 9,861 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
Chris Buttery	50,000	$1.12	750,722	0.227
Frank Dunne	9,861	$1.12	9,861	0.003

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	Chris Buttery
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 GBP shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			USD1.12 per share	50,000
d)	Aggregated information
	- Aggregated volume	50,000
	- Total Price	USD56,000.00
e)	Date of the transaction	4 November 2022
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Frank Dunne
2	Reason for the notification
a)	Position/status	Senior Independent 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 shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$1.1195 per Ordinary Share	9,861
d)	Aggregated information
	- Aggregated volume	9,861
	- Total Price	US$11,039.39
e)	Date of the transaction	4 November 2022
f)	Place of the transaction	London Stock Exchange

ENDS

For further information, please contact:  Taylor Maritime Investments Limited    Edward Buttery  Camilla Pierrepont [e-mail] Jefferies International Limited    Stuart Klein  Gaudi Le Roux [phone]  Montfort Communications   Alison Allfrey  George Morris Seers [e-mail]   Sanne Fund Services (Guernsey) Limited (formerly Praxis Fund Services Limited) Matt Falla [phone]

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 Supramax bulk carrier segments of the global shipping sector.  The Company invests in a diversified portfolio of vessels which are primarily second-hand and which, historically, have demonstrated average yields in excess of the Company's target dividend yield of 8% p.a. (on the Initial Issue Price).  The current portfolio numbers 27 vessels in the geared dry bulk segment (Handysize and Supramax types) (including one ship held for sale).  The ships are employed utilising a variety of employment/charter strategies.  

The Company announced an increased interim dividend of 2 cents per Ordinary Share paid on a quarterly basis on 28 July 2022, 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 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 industry professionals are based in Hong Kong, Singapore and London.

For more information, please visit  www.taylormaritimeinvestments.com .

About Geared Vessels

Geared vessels are characterised by their own loading equipment. The Handysize market segment is 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.

 

END

 

 

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