Vessel Sales, Proposed fourth return of capital
Taylor Maritime Limited has completed the sale of three handysize vessels, generating gross proceeds of approximately $48.6 million, and is in the process of selling its final vessel. Following a previous return of $45 million to shareholders in July 2026, the company intends to distribute an additional $45 million in November 2026 through a partial compulsory share redemption, with further details to be announced later this month.
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Further to the announcement on 1 September 2026, the Board of TML, the specialist dry bulk shipping company, is pleased to announce completion of the sale of three handysize vessels, generating gross proceeds of approximately $48.6 million.
The Company is in the process of disposing of the last vessel in the fleet. A further update will be provided in due course.
There have been no material changes affecting any matters contained in the announcement of 1 September 2026.
Proposed fourth return of capital
Following the return of $45 million to shareholders in July 2026, the Board is pleased to announce its intention to undertake a fourth return of capital of a further $45 million in November 2026 by way of a partial compulsory redemption of ordinary shares.
Details, including the redemption price, timetable and other terms are expected to be announced by the Company with the quarterly trading update due to be published later this month.
Further updates regarding the sales process, and future returns of capital to shareholders, will be provided in due course.
About Geared Vessels
[1] One is subject to a purchase option by the Company.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.