SHIP Tufton Oceanic Assets Limited

TIDMSHIP

RNS Number : 7494H

Tufton Oceanic Assets Ltd.

27 March 2020

27 March 2020

Tufton Oceanic Assets Limited (The "Company")

$7.0m Investment in a Handysize Bulk Carrier

The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is pleased to announce that the Company has acquired a Handysize Bulk Carrier for $7.0m.

The vessel has a fixed rate time charter for six to eight months to a major agricultural commodity trading and logistics company. The yield during the charter is in line with the targets expressed in the Company's prospectus dated 25 September 2018.

This acquisition takes the Company's fleet to sixteen vessels. SHIP currently has approximately $15m of investible cash.

Tufton Oceanic Ltd, the Investment Manager, continues to identify an attractive pipeline of opportunities across a range of the Company's target sectors.

For further information, please contact:

 
 Tufton Oceanic Limited (Investment                                        +44 (0) 20 7518 6700 
  Manager) 
  Andrew Hampson 
  Paulo Almeida 
 
 N+1 Singer                                                                +44 (0) 20 7496 3000 
  James Maxwell, Alex Bond (Corporate 
  Finance) 
  Alan Geeves, James Waterlow, Sam Greatrex 
  (Sales) 
 
 Hudnall Capital LLP                                                       +44 (0) 20 7520 9085 
  Andrew Cade 
 

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 Oceanic Ltd. The Company has raised a total of approximately $250m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange, on 20 December 2017, a subsequent placing and offer in October 2018, a placing in March 2019 and a placing in September 2019 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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March 27, 2020 03:00 ET (07:00 GMT)

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