Compulsory Partial Redemption, Total Voting Rights
Taylor Maritime Limited has completed its third compulsory partial redemption, repurchasing 52,429,220 ordinary shares at US$0.8583 per share for a total of US$45 million. Following this redemption, the company now has 90,947,730 ordinary shares outstanding, with the same number representing the total voting rights. Shareholders can use this figure as the denominator for calculating their notification obligations under the FCA's Disclosure Guidance and Transparency Rules. The new ISIN for the remaining shares is GG00BQ0H1P47, and payments for the redeemed shares are expected around July 24, 2026.
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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 Any certificates currently in circulation will be superseded by a new certificate which will be distributed to certificated shareholders representing the balance of their shareholding in the Company.
About Geared Vessels
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