Tufton Oceanic Assets Limited

M&A Activity • Mar 9, 2018

National Storage Mechanism | Additional information

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RNS Number : 3093H

Tufton Oceanic Assets Ltd.

09 March 2018

9 March 2018

Tufton Oceanic Assets Limited (the "Company")

$22.8m Acquisition of Two Containerships

The Board of Tufton Oceanic Assets Limited (ticker: SHIP) is pleased to announce that the Company has acquired two sub-Panamax containerships for $22.8 million. The vessels will have charters of at least two years and three years, respectively. One ship is chartered to part of a major investment grade container shipping group. The other ship will commence its charter to the same group after completing a few months of an existing charter. The initial yield is in line with the targets expressed in the Company's prospectus.

These will be the third and fourth investments by the Company. The Company has invested approximately 50% of the net IPO proceeds and expects to invest the remaining net proceeds within the time frame indicated at IPO.

For further information, please contact:

Tufton Oceanic Limited                 Tel: +44 (0) 20 7518 6700

Andrew Hampson                          

Paulo Almeida

Cenkos Securities plc                     Tel: +44 (0) 20 7397 8900

Sapna Shah

Tom Scrivens

Andrew Worne

Hudnall Capital LLP                         Tel: +44 (0) 20 7520 9085

Andrew Cade

About the Company

Tufton Oceanic Assets Limited intends to invest in a diversified portfolio of secondhand commercial sea-going vessels delivering strong cash flow and capital gains to investors. The Company's investment manager is Tufton Oceanic Limited. The Company was admitted to the Specialist Fund Segment of the London Stock Exchange on 20 December 2017.

This information is provided by RNS

The company news service from the London Stock Exchange

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