Compulsory Partial Redemption
Taylor Maritime Limited
09 July 2026
9 July 2026
Taylor Maritime Limited (the "Company" or "TML")
Third Compulsory Partial Redemption
Further to the announcement on 23 June 2026, the Board of TML, the specialist dry bulk shipping company, is pleased to announce details of the Company's third capital distribution totalling US$45 million to shareholders by way of a compulsory partial redemption of ordinary shares at a price of US$0.8583 per share (the "Compulsory Redemption"). The amount to be applied to the Compulsory Redemption and the redemption price per share have been determined by the Board with reference to the 31 March 2026 net asset value.
The Compulsory Redemption will be affected pro rata to holdings on the share register as at the close of business on 10 July 2026 (the "Redemption Date"), being the record date for the Compulsory Redemption. Approximately 37 per cent. of the Company's issued share capital will be redeemed on the Redemption Date (the "Redemption Ratio") equivalent to approximately 52,429,220 of the Company's issued shares. Fractions of shares produced by the Redemption Ratio will not be redeemed, so the number of shares to be compulsorily redeemed from each shareholder will be rounded down to the nearest whole number of shares.
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 Any certificates currently in circulation will be superseded by a new certificate which will be distributed to certificated shareholders representing the balance of their shareholding in the Company after the Redemption Date.
The Company currently has 143,376,950 shares in issue. All of the shares redeemed on the Redemption Date will be cancelled and accordingly will thereafter be incapable of transfer by shareholders or reissue by the Company.
The shares will be disabled in CREST after close of business on the Redemption Date and the existing ISIN, GG00BWZ6KJ56, (the "Old ISIN") will expire. The new ISIN, GG00BQ0H1P47, (the "New ISIN") in respect of the remaining shares which have not been compulsorily redeemed will be enabled and available for transactions from 8.00 a.m. on 13 July 2026, which is also the ex-date for the transaction. The Company's TIDMs, "TMIP" and "TMI", will remain unchanged. For the period up to and including the Redemption Date, shares will be traded under the Old ISIN and as such, a purchaser of such shares may have a market claim for a proportion of the redemption proceeds following the activation of the New ISIN. CREST will automatically transfer any open transactions as at the Redemption Date to the New ISIN.
ENDS
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For further information, please contact:
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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
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