IN BRIEF: Taylor Maritime sets out details for 46% share redemption
Taylor Maritime Ltd - Guernsey, England-registered dry bulk shipping investor - Provides details for the capital return it announced with interim results in December. Taylor Maritime will return USD143.4 million to share holders by means of a compulsory partial redemption of shares at USD0.94 per share. The price represents the company's net asset value per share on December 31, minus direct costs of the redemption. A total of 151.9 million shares will be redeemed, 46% of the current total of 330.2 million. The redemption needs to be approved by shareholders at a general meeting set for January 27. It will be based on the share register as of January 30, and payment will be made around February 13. The remaining shares will trade under a new ISIN number from February 2 but its tickers will remain TMI and TMIP. Read More