Director/PDMR Shareholding

RNS Number : 1282H

Taylor Maritime Investments Limited

30 July 2021

 

30 July 2021

Taylor Maritime Investments Limited (the "Company")

Director/PDMR Shareholding

Further to the announcement on 26 July 2021, the Company announces that interests in the below ordinary shares in the capital of the Company ("Ordinary Shares") were acquired by Directors of the Company in connection with the admission of 65,217,392 new ordinary shares to premium listing and trading on the Main Market of the London Stock Exchange on 28 July 2021 ("Admission"):

Director/PDMR	Ordinary Shares Acquired	Price per Ordinary Share (USD)	Total Holding following Purchase	% of the Company's issued share capital now held
Christopher Buttery	174,000	1.15	174,000	0.053
Edward Buttery	50,000	1.15	328,807	0.100
Trudi Clark	10,000	1.15	50,000	0.015
Nicholas Lykiardopulo*	436,086	1.15	2,436,086	0.743
Helen Tveitan	20,000	1.15	20,000	0.006

* Mr Nicholas Lykiardopulo subscribed for 110,000 Ordinary Shares directly and an additional 326,086 Ordinary Shares were subscribed for by a trust of which Mr Lykiardopulo is a beneficiary .

Part A below sets out relevant notifications for these acquisitions, provided in accordance with the requirements of the Market Abuse Regulation.

In addition, the Company makes the below amendments to the Director / PDMR Shareholding announcement (RNS 2526A) released on 28 May 2021. All other details remain unchanged.

1.  Edward Buttery held 186,307 ordinary shares on completion of the Initial Seed Asset Acquisition Agreements on Admission including shares acquired through an interest in vendors (amended from 180,001 ordinary shares) giving him a total holding of the same number of ordinary shares and constituting 0.073% of the then issued share capital (amended from 0.071%). Following the acquisition by Edward Buttery of 92,500 ordinary shares announced on 30 June 2021 and an additional 50,000 ordinary shares announced today, his total holding is now 328,807 ordinary shares constituting 0.100% of the current issued share capital. 

2.  Camilla Pierrepont held 23,371 ordinary shares on completion of the Initial Seed Asset Acquisition Agreements on Admission including shares acquired through an interest in vendors (amended from 20,000 ordinary shares) giving her a total holding of the same number of ordinary shares and constituting 0.009% of the then issued share capital (amended from 0.008%). Following the acquisition by Camilla Pierrepont and persons closely associated with her of 82,239 ordinary shares announced on 30 June 2021, her total holding is now 105,610 ordinary shares constituting 0.032% of the current issued share capital. 

Part B below sets out amended notifications for the acquisitions announced in RNS 2526A, provided in accordance with the requirements of the Market Abuse Regulation.

Part A - 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	Christopher Buttery
2	Reason for the notification
a)	Position/status	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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$1.15 per share	174,000
d)	Aggregated information
	- Aggregated volume	174,000
	- Total Price	US$200,100
e)	Date of the transaction	28 July 2021
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Edward Buttery
2	Reason for the notification
a)	Position/status	Director & CEO
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	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$1.15 per share	50,000
d)	Aggregated information
	- Aggregated volume	50,000
	- Total Price	US$57,500
e)	Date of the transaction	28 July 2021
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Trudi Clark
2	Reason for the notification
a)	Position/status	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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$1.15 per share	10,000
d)	Aggregated information
	- Aggregated volume	10,000
	- Total Price	US$11,500
e)	Date of the transaction	28 July 2021
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nicholas Lykiardopulo
2	Reason for the notification
a)	Position/status	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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$1.15 per share	110,000
			US$1.15 per share	326,086
d)	Aggregated information
	- Aggregated volume	436,086
	- Total Price	US$501,500
e)	Date of the transaction	28 July 2021
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Helen Tveitan
2	Reason for the notification
a)	Position/status	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 USD shares
	Identification code (ISIN)	GG00BP2NJT37
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$1.15 per share	20,000
d)	Aggregated information
	- Aggregated volume	20,000
	- Total Price	US$23,000
e)	Date of the transaction	28 July 2021
f)	Place of the transaction	London Stock Exchange

Part B - Amended 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	Edward Buttery
2	Reason for the notification
a)	Position/status	Director & CEO
b)	Initial notification /Amendment	Amendment
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	Purchase
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			US$1 per share	1
			US$1 per share	186,306
d)	Aggregated information
	- Aggregated volume	186,307
	- Total Price	US$186,307
e)	Date of the transaction	27 May 2021
f)	Place of the transaction	London Stock Exchange

Name	Camilla Pierrepont
Reason for the notification
Position/status	Chief Strategy Officer
Initial notification /Amendment	Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Name	Taylor Maritime Investments Limited
LEI	213800FELXGYTYJBBG50
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
Description of the financial instrument, type of instrument	Ordinary USD shares
Identification code (ISIN)	GG00BP2NJT37
Nature of the transaction	Purchase
Price(s) and volume(s)
		Price(s)	Volume(s)
		US$1 per share	23,371
Aggregated information
- Aggregated volume	23,371
- Total Price	US$23,371
Date of the transaction	27 May 2021
Place of the transaction	London Stock Exchange

For further information, please contact:

Taylor Maritime Investments Limited Edward Buttery Alexander Slee	[phone]
Jefferies International Limited Investment Banking Stuart Klein Gaudi Le Roux Sector coverage Doug Mavrinac Hugh Eden	[phone]
Buchanan
Charles Ryland Henry Wilson Hannah Ratcliff	[phone] [phone] [phone]
Praxis Fund Services Limited Tom Daish Matt Falla	[phone]

About the Company  

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 previously worked closely together for the Commercial Manager, Taylor Maritime. Established in 2014, Taylor Maritime is a privately owned 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 .

 

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