Tap Issue raising $14.7 million for Tufton Oceanic Assets Limited

N+1 Singer is delighted to have acted as Joint Broker to Tufton Oceanic on a fundraise of US$14.7 million via the issue of 15,000,000 Tap Issue Shares at a price of US$0.98 per Tap Issue Share.

Application has been made in respect of 14,700,000 new Ordinary Shares to be admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange plc. 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 29 March 2021. The balance of 300,000 Ordinary Shares under the Tap Issue will be issued out of Treasury and represent all of the Company’s shares currently held in Treasury.

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 Investment Management 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.

Ticker: SHIP
Market Cap: £179.38 million*
Website: Click here

*As at 29/03/2021

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