TIDMSHIP
RNS Number : 2780S
Tufton Oceanic Assets Ltd.
12 November 2021
12 November 2021
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, THE
REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA OR
ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR
RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.
Tufton Oceanic Assets Limited (the "Company")
Result of Tap Issue
Further to the announcement on 4 November 2021, Tufton Oceanic
Assets Limited (ticker: SHIP) today announces that it has raised
gross proceeds of US$39.0 million via the issue of 28,057,140 Tap
Issue Shares at a price of US$1.39 per Tap Issue Share.
The Tap Issue was well supported by new and existing
shareholders and was materially oversubscribed above the C ompany's
remaining general authorities granted by shareholders at its 2021
AGM and a scaling back exercise in respect of the Tap Issue was
therefore carried out. Key staff and affiliates of the Investment
Manager have been allocated 671,567 Tap Issue Shares and since the
Tap Issue was oversubscribed, their subscription was also subject
to scale back.
Application has been made in respect of 28,057,140 new 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
17 November 2021.
Total Voting Rights
Following Admission, the Company will have 308,628,541 Ordinary
Shares in issue and no Ordinary Shares held in Treasury. Therefore,
the total number of voting rights of the Company will be
308,628,541 and this figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Capitalised terms used in this announcement and not otherwise
defined will have the same meanings given to them in the Company's
announcement dated 4 November 2021.
For further information, please contact:
Tufton Investment Management Ltd (Investment
Manager)
Andrew Hampson
Paulo Almeida +44 (0) 20 7518 6700
Singer Capital Markets
James Maxwell, Alex Bond, James Fischer
(Investment Banking)
Alan Geeves, James Waterlow, Sam Greatrex
(Sales) +44 (0) 20 7496 3000
Hudnall Capital LLP
Andrew Cade +44 (0) 20 7520 9085
Important Information
This announcement is not for release, publication or
distribution, directly or indirectly, in whole or in part, in or
into the United States (including its territories and possessions,
any state of the United States and the District of Columbia),
Australia, Canada, South Africa, Japan or any other jurisdiction in
which the release, distribution or publication of this announcement
would be unlawful. The distribution of this announcement may be
restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein
comes should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This announcement and the information contained herein is for
information purposes only and does not constitute or form part of
any offer of, or the solicitation of an offer to acquire or dispose
of securities in the United States, Canada, Australia, South Africa
or Japan or in any other jurisdiction in which such an offer or
solicitation is unlawful.
Any purchase of Ordinary Shares should be made solely on the
basis of the information contained in the Prospectus issued by the
Company in connection with the Placing Programme and Admission.
The securities referred to herein have not been, and will not
be, registered under the US Securities Act of 1933, as amended (the
"Securities Act") or under the securities laws of any state of the
United States and may not be offered or sold in the United States
or to or for the account or benefit of US persons absent
registration or pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and in compliance with any applicable State securities laws. The
offer and sale of securities referred to herein has not been and
will not be registered under the Securities Act or under the
applicable securities laws of any state, province or territory of
Australia, Canada, South Africa, Japan or any member state of the
EEA. Subject to certain exceptions, the securities referred to
herein may not be offered or sold in Australia, Canada, South
Africa or Japan or to, or for the account or benefit of, any
national, resident or citizen of Australia, Canada, South Africa or
Japan.
The content of this announcement has been prepared by, and is
the sole responsibility of the Company. The information contained
in this announcement is given at the date of its publication
(unless otherwise marked) and is subject to updating, revision and
amendment from time to time. Neither the content of the Company's
website nor any website accessible by hyperlinks to the Company's
website is incorporated in, or forms part of, this
announcement.
Singer Capital Markets Limited ("Singer Capital Markets"), which
is authorised and regulated in the United Kingdom by the Financial
Conduct Authority, and is acting exclusively for the Company and
no-one else in connection with the Tap Issue. Singer Capital
Markets will not regard any other person as its client in relation
to the Tap Issue and will not be responsible to anyone other than
the Company for providing the protections afforded to its clients,
nor for providing advice in relation to the Tap Issue, the contents
of this announcement or any transaction, arrangement or other
matter referred to herein.
Hudnall Capital LLP ("Hudnall Capital"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority,
and is acting exclusively for the Company and no-one else in
connection with the Tap Issue. Hudnall Capital will not regard any
other person as its client in relation to the Tap Issue and will
not be responsible to anyone other than the Company for providing
the protections afforded to its clients, nor for providing advice
in relation to the Tap Issue, the contents of this announcement or
any transaction, arrangement or other matter referred to
herein.
None of the Company, the Investment Manager, Hudnall Capital or
Singer Capital Markets or any of their respective directors,
officers, employees, advisers, affiliates or agents accepts any
responsibility or liability whatsoever for or makes any
representation or warranty, express or implied, as to this
announcement, including the truth, accuracy or completeness of the
information in this announcement (or whether any information has
been omitted from the announcement) or any other information
relating to the Company whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or for
any loss howsoever arising from any use of the announcement or its
contents or otherwise arising in connection therewith. The Company,
the Investment Manager, Hudnall Capital and Singer Capital Markets
and their respective directors, officers, employees, advisers,
affiliates or agents accordingly disclaim all and any liability
whether arising in tort, contract or otherwise which they might
otherwise have in respect of this announcement or its contents or
otherwise arising in connection therewith.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements involve known and unknown risks and uncertainties, many
of which are beyond the Company's control and all of which are
based on the Company's board of directors' current beliefs and
expectations about future events. These forward-looking statements
may be identified by the use of forward- looking terminology,
including the terms "believes", "estimates", "plans", "projects",
"anticipates", "expects", "intends", "may", "will" or "should" or,
in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. These forward-looking
statements include all matters that are not historical facts.
Forward-looking statements may and often do differ materially from
actual results. Any forward-looking statements reflect the
Company's current view with respect to future events and are
subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Company's business,
the results of operations, financial condition prospects, growth
and dividend policy of the Company and the industry in which it
operates. Forward-looking statements speak only as of the date they
are made and cannot be relied upon as a guide to future
performance. These forward-looking statements and other statements
contained in this announcement regarding matters that are not
historical facts involve predictions. No assurance can be given
that such future results will be achieved; actual events or results
may differ materially as a result of risks and uncertainties facing
the Company. Such risks and uncertainties could cause actual
results to vary materially from the future results indicated,
expressed or implied in such forward-looking statements. Forward
looking statements speak only as of the date of this
announcement.
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END
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