15 August
2024
Tufton Oceanic Assets
Limited
(The
"Company")
Compulsory Redemption of
Shares and Total Voting Rights
Further to the announcement on 17
July 2024, the Company announces that it has compulsorily redeemed
20,326,211 ordinary shares ("Shares") at a price of US$1.550 per
Share at close of business on 14 August 2024 for
cancellation.
On this basis, a holder of 100,000
Shares had 6,983 Shares redeemed, and received US$10,823.65 in
cash.
Fractions of Shares have not been
redeemed and so the number of Shares redeemed from each Shareholder
has been rounded down to the nearest whole number of
Shares.
The new ISIN number GG00BSFVPB94 in respect of the Shares
that have not been redeemed has been enabled and is available for
transactions from 8.00 a.m. UKT today.
In conformity with the FCA's
Disclosure Guidance and Transparency Rules ("DTRs"), following the redemption and
cancellation, the Company's issued share capital consists of
270,756,330 Shares in issue with voting rights and 17,546,000
Shares held in treasury.
This figure 270,756,330 represents
the total voting rights in the Company and may be used by
Shareholders as the denominator for the calculations by which they
can determine if they are required to notify their interest in, or
a change to their interest in the Company under the
DTRs.
It is expected that the proceeds of
the redemption will be paid through CREST to holders of Shares in
uncertificated form, or electronically to holders of Shares in
certificated form, on 28 August 2024. Holders of Shares in
certificated form having elected to receive payment by cheque will
be paid in the week commencing 26 August 2024.
Capitalised terms used but not
defined in this announcement will have the same meaning as set out
in the circular of the Company published on 20 May 2024.
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New
ISIN: GG00BSFVPB94
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USD
Quote
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GBX
Quote
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SEDOL
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BSFXP71
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BSFVPB9
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TIDM
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SHIP
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SHPP
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For
further information, please contact:
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Tufton Investment Management Ltd (Investment
Manager)
Andrew Hampson
Nicolas Tirogalas
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+44 (0) 20 7518 6700
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Singer Capital Markets Advisory LLP
James Maxwell, Alex Bond, Jalini
Kalaravy (Corporate Finance)
Alan Geeves, James Waterlow, Sam
Greatrex (Sales)
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+44 (0) 20 7496 3000
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Hudnall Capital LLP
Andrew Cade
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+44 (0) 20 7520 9085
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LEI: 213800L1N2V3FVNOSY44
A copy of this announcement will be
available on the Company's website
at https://www.tuftonoceanicassets.com. Neither the content of
the Company's website, nor the content on any website accessible
from hyperlinks on its website for any other website, is
incorporated into, or forms part of, this announcement nor, unless
previously published by means of a recognised information service,
should any such content be relied upon in reaching a decision as to
whether or not to acquire, continue to hold, or dispose of,
securities in the Company.
About the Company
Tufton Oceanic Assets Limited
invests in a diversified portfolio of secondhand commercial
sea-going vessels with the objective of delivering strong cash flow
and capital gains to investors. The Company's investment manager is
Tufton Investment Management Ltd. The Company has raised a total of
approximately $316.5m (gross) through its Initial Public Offering
on the Specialist Fund Segment of the London Stock Exchange on 20
December 2017 and subsequent capital raises.