Publication of Circular, Notice of General Meeting

Taylor Maritime Limited

09 January 2026

 

9 January 2026

Taylor Maritime Limited

Recommended Amendments to the Articles of Incorporation

Publication of Circular and Notice of General Meeting

On 12 December 2025 the Board of Taylor Maritime Limited ("TML" or the "Company"), the listed specialist dry bulk shipping company, announced its intention to distribute approximately $143.4 million to shareholders with the expectation that such return will be made by way of a partial compulsory redemption of ordinary shares.

The Board is pleased to announce that a circular (the "Circular") setting out proposed amendments to the Company's Articles of Incorporation (the "Articles") to facilitate such transaction is expected to be published and posted to shareholders today and when published will be available on the Company's website at https://www.taylormaritime.com/investor-centre/general-meetings/ and on the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The Circular sets out, among other things, a notice of a general meeting to be held on 27 January 2026 (the "General Meeting") at which a special resolution to approve amendments to the Articles required to permit the Board, at its discretion, to return capital to shareholders by way of compulsory partial redemptions of the Company's ordinary shares pro rata to each shareholder's holding, will be considered.

The redemption price for the proposed compulsory redemption will be fixed by the Board and is expected to be determined by reference to the 31 December 2025 net asset value (expected to be published on 22 January 2026), net of the direct costs of the proposed compulsory redemption.

Conditional upon the passing of the resolution at the General Meeting and the Board being able to give the necessary certificate(s) of solvency required by the Companies (Guernsey) Law 2008, the expected timetable for the proposed compulsory redemption is set out below:

Publication of the Circular	9 January 2026
Announcement of details of the Proposed Compulsory Redemption (including the Redemption Price)	22 January 2026
Latest time and date for receipt of Forms of Proxy or transmission of CREST Proxy Instructions (as applicable)	10:00 a.m. on 23 January 2026
General Meeting	10:00 a.m. on 27 January 2026
Announcement of results of General Meeting	27 January 2026
Record Date for Proposed Compulsory Redemption	30 January 2026
Redemption Date for Proposed Compulsory Redemption	30 January 2026
Redemption Ex Date and New ISIN enabled	2 February 2026
Payment Date for Proposed Compulsory Redemption	on or around 13 February 2026
Note: Each of the times and dates in the expected timetable of events may be extended or brought forward without further notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a RIS provider. All times are London times.

Capitalised terms used in this announcement shall have the same meanings given to them in the Circular unless otherwise defined herein.

ENDS

For further information, please contact:  Taylor Maritime Limited   Edward Buttery   Kael O'Sullivan [e-mail] Jefferies International Limited   Stuart Klein  Gaudi Le Roux [phone]  Panmure Liberum Limited Chris Clarke Nicholas How [phone]

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 (formerly Taylor Maritime Investments 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 focused on navigating shipping market cycles on behalf of its shareholders, leveraging a dynamic and experienced management team with deep relationships in the industry and an agile business model underpinned by low leverage and financial flexibility, to deliver long-term attractive returns through both income and capital appreciation.

The Company, through its subsidiaries, currently has an owned fleet of 8 dry bulk vessels (including 1 vessel held for sale) consisting of 6 Handysize vessels and 2 Supra/Ultramax vessels.  The Company also has 1 vessel under JV agreement and 4 vessels in its chartered in fleet.  The ships are employed utilising a mix of time charter, voyage charter, and Contracts of Affreightment ("CoAs") to optimise fleet earnings and cargo coverage.

The Company's current target dividend policy is 8 cents p.a. paid on a quarterly basis.

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 thereof) 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

 

END