LONDON – Taylor Maritime Investments Limited (TMI), a specialist bulk carrier investment company, has announced that shareholders have approved a number of significant changes, including a change in company name and listing category. The decisions were made at today’s General Assembly, with the majority of votes in favor of the proposed amendments.
The shareholders overwhelmingly voted in favor of transferring the listing of the issuer’s share capital from the category of closed investment funds to the category of ownership shares (commercial companies) of the Official List. The change is expected to take effect on February 10, 2025, subject to approval by the UK Financial Conduct Authority (FCA).
In addition to the listing transfer, the shareholders approved amendments to the company’s Articles of Association and the change of the company’s name to Taylor Maritime Limited. The name change is also conditional on the successful transfer of the listing category.
Approval of these changes will result in the Company’s Investment Policy ceasing to apply as of the effective date of the transfer. Moreover, Taylor Maritime Investments will surrender its registration as a closed-end collective investment scheme with the Guernsey Financial Services Commission and apply to change its name to Taylor Maritime Limited on the Guernsey register.
The Board noted that a significant number of votes against the changes to the Articles of Association came from one major shareholder. Although this shareholder voted against one resolution, they supported the other two, including the name change and listing category transfer. Management has expressed its willingness to further engage with this shareholder to understand their concerns.
The company’s announcement follows details set out in a circular to shareholders dated 11 December 2024, which outlined the implications and effects of the proposed changes. The Board will make further announcements to confirm the changes as they become effective.
This news is based on a press release from Taylor Maritime Investments Limited.
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