Compulsory Partial Redemption, Total Voting Rights
Taylor Maritime Limited has completed its fourth compulsory partial redemption, repurchasing 55,425,545 ordinary shares at US$0.8119 per share for a total of US$45 million. Following this redemption, the company now has 35,522,185 ordinary shares outstanding, with the same number representing the total voting rights, which shareholders should use for disclosure calculations. Payments for the redeemed shares are expected around November 9, 2026, with new ISIN GG00C0G4QJ50 applicable to the remaining shares from October 27, 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 fourth compulsory partial redemption (the "Compulsory Redemption"), as announced on 23 October 2026, the Company has compulsorily redeemed as at the close of business on 26 October 2026 on a pro rata basis 55,425,545 ordinary shares at a price of US$0.8119 per share for a total consideration of US$45 million.
Following the Compulsory Redemption, the Company has 35,522,185 ordinary shares in issue and the total number of voting rights is 35,522,185. 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, GG00C0G4QJ50, 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 27 October 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 9 November 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. Once logged in, select 'Update My Details' and then 'Global Payments' to register their US Dollar 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 Any certificates currently in circulation will be superseded by a new certificate which will be distributed to certificated shareholders representing the balance of their shareholding in the Company.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
[1] One vessel is held for sale and vessel 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.