Tufton Oceanic Assets Limited

AGM Information • Oct 29, 2024

Tufton Oceanic Assets Limited (the "Company")

Result of Annual General Meeting

The Company announces the results of its Annual General Meeting ("AGM") held at 11.00 a.m. on 24 October 2024. Resolutions 1-14 inclusive were duly passed by way of a poll.

In particular, the Board would like to draw shareholder attention to the passing of Resolutions 12 and 13 whereby shareholders approved the continuation of the Company as set out in the Prospectus dated 25 September 2018 (Resolution 12) and in addition, the Company's name change from Tufton Oceanic Assets Limited to Tufton Assets Limited as of 1 November 2024 (Resolution 13).

The full results of the AGM were as follows:

		FOR		AGAINST			% OF
	ORDINARY RESOLUTIONS	Votes	%	Votes	%	TOTAL VOTES	ISSUED SHARE CAPITAL VOTED	VOTES WITH HELD*
1.	To receive the Company's Annual Report and Audited Financial Statements for the year ended 30 June 2024.	197,770,316	100.00	0	0.00	197,770,316	73.04%	7,182
2.	To re-appoint PricewaterhouseCoopers CI LLP as auditor to the Company until the conclusion of the next general meeting at which accounts are laid before the Company.	197,609,872	99.92	148,908	0.08	197,758,780	73.03%	18,718
3.	To authorise the Directors to determine the remuneration of the auditor.	197,625,656	100.00	0	0.00	197,625,656	72.99%	151,842
4.	To approve the remuneration of the Directors for the year ended 30 June 2024, as set out in the Directors' Report.	197,647,677	99.97	57,846	0.03	197,705,523	73.02%	71,975
5.	To re-elect Mr Robert King as a Director who retires by rotation in accordance with Article 21.3 of the Articles.	197,734,255	100.00	6,976	0.00	197,741,231	73.03%	36,267
6.	To re-elect Mr Stephen Le Page as a Director who retires by rotation in accordance with Article 21.3 of the Articles.	197,734,255	100.00	6,976	0.00	197,741,231	73.03%	36,267
7.	To re-elect Mr Paul Barnes as a Director who retires by rotation in accordance with Article 21.3 of the Articles.	197,621,255	99.94	119,976	0.06	197,741,231	73.03%	36,267
8.	To re-elect Ms Christine Rødsæther as a Director who retires by rotation in accordance with Article 21.3 of the Articles.	197,744,250	100.00	6,976	0.00	197,751,226	73.03%	26,272
9.	To elect Ms Trina Le Noury as a Director who retires by rotation in accordance with Article 21.3 of the Articles.	197,631,064	99.94	119,976	0.06	197,751,040	73.03%	26,458
	10. Authority to make acquisitions of the Company's own shares.	197,744,533	99.99	18,603	0.01	197,763,136	73.04%	14,362
	11. To approve the Company's dividend policy.	197,759,296	100.00	2,325	0.00	197,761,621	73.04%	15,877
	12. To approve the Continuation of the Company.	190,871,147	96.51	6,892,691	3.49	197,763,838	73.05%	13,660
	SPECIAL RESOLUTION
	13. To approve the Company name change.	197,528,964	99.93	146,575	0.07	197,675,539	73.00%	101,959

EXTRAORDINARY RESOLUTION
14. Authority to allot and issue shares	197,493,637	99.87	247,418	0.13	197,741,055	73.03%	36,443
and to sell shares held in treasury
as if the pre-emption rights in the
Articles do not apply.

*A 'vote withheld' is not a vote in law and is not counted towards the proportion of votes 'for' and 'against' a resolution.

As at the date of the AGM, the number of ordinary shares in issue, and therefore the total number of voting rights was 270,756,330.

A copy of the full text of Extraordinary Resolution 14 will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

For further information, please contact:

Tufton Investment Management Ltd (Investment Manager)

Andrew Hampson Nicolas Tirogalas

Singer Capital Markets

James Maxwell, Alex Bond, Jalini Kalaravy (Corporate Finance) Alan Geeves, James Waterlow, Sam Greatrex (Sales)

Hudnall Capital LLP

Andrew Cade

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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