Publication of Circular, Notice of General Meeting
Taylor Maritime Limited announced recommended amendments to its Articles of Incorporation to facilitate a proposed distribution of approximately $143.4 million to shareholders via a partial compulsory redemption of ordinary shares. A circular detailing these amendments and a notice for a general meeting on January 27, 2026, where shareholders will vote on a special resolution, have been published. The redemption price will be determined by the Board based on the December 31, 2025, net asset value, less redemption costs. If approved and solvency requirements are met, the redemption is expected to occur on January 30, 2026, with payment around February 13, 2026.
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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.
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