TIDMTMIP TIDMTMI
RNS Number : 4060W
Taylor Maritime Investments Limited
12 December 2023
12 December 2023
Taylor Maritime Investments Limited
Board Changes
The Board of Taylor Maritime Investments Limited ("TMI" or the
"Company"), the listed specialist dry bulk shipping company, is
pleased to announce that Mr. Charles Goodson Maltby will be
appointed as a non-executive Director of the Company with effect
from 1 January 2024.
Mr. Maltby has served as a Director of Grindrod Shipping
Holdings Limited ("Grindrod") since 6 December 2022, where he is
due to retire from the Board and from Grindrod's Compensation and
Nomination Committee on 31 December 2023. Mr. Maltby has over 20
years of experience in the shipping industry and is currently Chief
Executive Officer of BW Epic Kosan, the world's leading owner and
operator of modern high-quality fully pressurised,
semi-refrigerated, and ethylene capable gas carriers. Prior to
that, Mr. Maltby held leadership positions at Pacific Basin and the
transportation divisions of BHP.
The Board also announces that Helen Tveitan will retire as a
non-executive Director and Chair of the Company's ESG &
Engagement Committee on 31 March 2024, in order to devote greater
time to her other business and personal commitments.
Henry Strutt, Chairman, commented:
"As one of our founding Directors, Helen has demonstrated
outstanding commitment to the Company through a period of rapid
growth and expansion. On behalf of the Board, I would like to thank
Helen for her support, and for guiding the development of our ESG
agenda.
We are delighted to welcome Charles to the TMI Board as we
continue to align the strategic and governance activities across
the combined Group, and expect to benefit from Charles' deep
understanding of shipping markets, operations and knowledge and
experience with Grindrod."
No further disclosures are required for Charles Maltby in
respect of paragraphs 9.6.13 of the Financial Conduct Authority's
Listing Rules.
ENDS
For further information, please contact:
Taylor Maritime Investments IR@tminvestments.com
Limited
Edward Buttery
Camilla Pierrepont
Jefferies International
Limited
Stuart Klein
Gaudi Le Roux +44 20 7029 8000
Sanne Fund Services (Guernsey)
Limited
Matt Falla +44 20 3530 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 18 dry bulk vessels complementary to
the Company's fleet. They are Japanese built, including 11
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 40 vessels
(including chartered in vessels with purchase options).
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAGPGPCPUPWGBG
(END) Dow Jones Newswires
December 12, 2023 02:00 ET (07:00 GMT)
Taylor Maritime Investme... (LSE:TMIP)
Gráfico Histórico do Ativo
De Ago 2024 até Set 2024
Taylor Maritime Investme... (LSE:TMIP)
Gráfico Histórico do Ativo
De Set 2023 até Set 2024