Director/PDMR Shareholding

RNS Number : 9346J

Taylor Maritime Investments Limited

27 August 2021

 

Taylor Maritime Investments Limited ("TMI" or the "Company")

Grant of Long-Term Incentive Plan Awards

Taylor Maritime Investments Limited (TMI / TMIP), the specialist dry bulk shipping company, announces that on 26 August 2021, the following awards over Ordinary Shares were granted to the following members of the Executive Team, in accordance with the terms of the Company's Long-Term Incentive Plan ("LTIP"):

Director/PDMR	Position	Shares Awarded
Edward Buttery	Director & Chief Executive Officer	750,000
Alexander Slee	Chief Operating Officer	562,500
Camilla Pierrepont	Chief Strategy Officer	562,500
Yam Lay Tan	Chief Financial Officer	420,000

Each award is subject to achieving a total NAV return of between 5% and 12% on average over the three year performance period commencing with the financial year beginning 1 April 2021. The normal vesting date of each award will be 26 August 2024. Further details are available in the Company's IPO Prospectus which can be found at https://taylormaritimeinvestments.com/ .

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Edward Buttery
2	Reason for the notification
a)	Position/status	Director & Chief Executive Officer
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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Grant of awards under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	750,000
d)	Aggregated information
	- Aggregated volume	750,000
	- Total Price	N/A
e)	Date of the transaction	26 August 2021
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alexander Slee
2	Reason for the notification
a)	Position/status	Chief Operating Officer
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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Grant of awards under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	562,500
d)	Aggregated information
	- Aggregated volume	562,500
	- Total Price	N/A
e)	Date of the transaction	26 August 2021
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Camilla Pierrepont
2	Reason for the notification
a)	Position/status	Chief Strategy Officer
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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Grant of awards under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	562,500
d)	Aggregated information
	- Aggregated volume	562,500
	- Total Price	N/A
e)	Date of the transaction	26 August 2021
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Yam Lay Tan
2	Reason for the notification
a)	Position/status	Chief Financial Officer
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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Grant of awards under the Company's Long-Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			N/A	420,000
d)	Aggregated information
	- Aggregated volume	420,000
	- Total Price	N/A
e)	Date of the transaction	26 August 2021
f)	Place of the transaction	N/A

Taylor Maritime Investments Limited Edward Buttery Alexander Slee	[e-mail]
Jefferies International Limited Investment Banking Stuart Klein Gaudi Le Roux	[phone]
Sector coverage Doug Mavrinac Hugh Eden
Montfort Communications Nick Bastin Alison Allfrey Miles McKechnie	[e-mail]
Praxis Fund Services Limited Tom Daish Matt Falla	[phone]

Notes to editors  

About Taylor Maritime Investments  

Taylor Maritime Investments Limited is a recently established, internally managed investment company listed on the Premium Segment of the Official List and traded on the Main Market of the London Stock Exchange. 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 7% p.a. and were acquired at valuations that are expected to be below long-term average prices.

The Company's initial investments comprise  Geared Bulk Carriers  (Handysize and Supramax types) employed utilising a variety of employment/Charter strategies.

The Company intends to pay dividends on a quarterly basis with dividends declared in January, April, July and October. The Company expects to declare its first dividend of 1.75 cents per Ordinary Share for the initial period ended 30 September 2021 in October 2021. Once the Company is fully invested, the Company will target a Total NAV Return of 10 to 12% p.a. (net of expenses and fees but excluding any tax payable by Shareholders) over the medium to long term.

The Company has the benefit of an experienced Executive Team led by Edward Buttery. The Executive Team have to date worked closely together for 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 experienced industry professionals are based in Hong Kong and London.

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

About Geared vessels

The Company specializes in the acquisition and chartering of vessels in the Handysize and Supramax bulk carrier segments of the global shipping sector. These "Geared" vessels, which have their own loading equipment, are mostly acquired second-hand, leveraging valuations that are well below long-term average prices. 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.

 

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