Compulsory Partial Redemption, Total Voting Rights
Summary by AI BETAClose X
13 July 2026
Taylor Maritime Limited (the "Company" or "TML")
Third Compulsory Partial Redemption Update & Confirmation of Voting Rights
The Board of TML, the specialist dry bulk shipping company, is pleased to announce that, in connection with the Company's third compulsory partial redemption (the "Compulsory Redemption"), as announced on 9 July 2026, the Company has compulsorily redeemed as at the close of business on 10 July 2026 on a pro rata basis 52,429,220 ordinary shares at a price of US$0.8583 per share for a total consideration of US$45 million.
Fractions of shares produced by the applicable redemption ratios have not been redeemed and therefore the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.
Following the Compulsory Redemption, the Company has 90,947,730 ordinary shares in issue and the total number of voting rights is 90,947,730. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
The new ISIN, GG00BQ0H1P47, in respect of the remaining shares which have not been redeemed will be enabled and is available for transactions from 8.00 a.m. on 13 July 2026. Payments of redemption monies are expected to be affected either through CREST (in the case of shares held in uncertificated form) or by direct credit (in the case of shareholders who have registered a valid wire mandate) on or around 24 July 2026. Shareholders who have not yet registered their bank details and wish to receive their payment by direct credit should log on to www.investorcentre.co.uk/je and select 'Update My Details' and then 'Global Payments' to register their USD banking instructions. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to certificated shareholders representing the balance of their shareholding in the Company.
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, Company Secretary.
Notes to Editors
About the Company
Taylor Maritime Limited is a shipping company listed under the equity shares (commercial companies) category of the Official List, with its shares trading on the Main Market of the London Stock Exchange since May 2021. Between May 2021 and February 2025, the Company was listed under the closed-ended investment funds category of the Official List.
The Company is pursuing a managed realisation of the Company's assets, prioritising the maximisation of proceeds from vessel sales and future returns of capital to shareholders, in tandem with an orderly winding down of the Company's operations. The timing of disposals and subsequent returns of capital will be influenced by market conditions and commercial factors.
The Company, through its subsidiaries, currently has an owned fleet of 5 dry bulk vessels consisting of 4 Handysize vessels and 1 Supra/Ultramax vessels. The Company also has one vessel in its chartered in fleet. The ships are all employed on time charter.
For more information, please visit www.taylormaritime.com.
About Geared Vessels
Geared vessels are characterised by their own cargo 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.
LEI: 213800FELXGYTYJBBG50
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.
Latest directors dealings
- 5 minutes ago 3i Infrastructure
- 11 minutes ago QinetiQ Group
- 32 minutes ago JPMorgan Emerging Markets Growth & Income plc
- 34 minutes ago National Grid
- 1 hour ago City of London Investment Group