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Placing raising US $31 million for Tufton Oceanic Assets Limited

Further to the announcement of their proposed Placing on 11 September 2019, Tufton Oceanic Assets Limited (ticker: SHIP) has today announced, that it has raised gross proceeds of US $31 million via a Placing, pursuant to the Placing Programme described in the Prospectus published by the Company on 25 September 2018.

Application has been made in respect of 30,693,070 Ordinary Shares to be admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange plc (“Admission”). It is expected that Admission will become effective and that dealings in the Ordinary Shares will commence at 8.00 a.m. (London time) on 24 September 2019.

N+1 Singer is acting as Joint Financial Adviser, Placing Agent and Broker to the Company.

About Tufton Oceanic Assets Limited

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 $250 million (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange, on 20 December 2017, and subsequent further issues in October 2018, March 2019 and September 2019.

Ticker: SHIP
Market Cap: $181.67 million*
Website: Click here

*As at 20/09/2019

 

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