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.
| New ISIN: GG00BSFVPB94 | USD Quote | GBX Quote |
| SEDOL | BSFXP71 | BSFVPB9 |
| TIDM | SHIP | SHPP |
For further information, please contact:
| Tufton Investment Management Ltd (Investment Manager) Andrew Hampson Nicolas Tirogalas | +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) | +44 (0) 20 7496 3000 |
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| Hudnall Capital LLP Andrew Cade | +44 (0) 20 7520 9085 |
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.
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