Tufton Oceanic Assets Limited

Regulatory Filings • Nov 23, 2018

National Storage Mechanism | Additional information

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RNS Number : 2643I

Tufton Oceanic Assets Ltd.

23 November 2018

23 November 2018

Tufton Oceanic Assets Limited (the "Company")

$13m Investment in a Containership

The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is pleased to announce that the Company has agreed to acquire a containership for $13m.

The vessel will have a time charter of two years to a leading private operator of containerships specialising in fresh fruit transport. The yield is in line with the targets expressed in the Company's C Share prospectus.

This is the second investment made from the C Share proceeds announced on 11 October 2018. This acquisition will take the Company's fleet to eight vessels, five of which are containerships all below 3000-TEU capacity.

The Company also recently employed one of its handysize bulkers on a time charter of approximately one year, and therefore the Company currently has no spot market exposure.

Tufton Oceanic Limited, the Investment Manager, continues to identify an attractive pipeline of opportunities across a range of the Company's target sectors.

For further information, please contact:

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

Andrew Hampson                          

Paulo Almeida

N+1 Singer                                                                                                       Tel: +44 (0) 207 496 3030

James Maxwell, Alex Bond (Corporate Finance)                  

Alan Geeves, James Waterlow, Sam Greatrex (Sales)

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

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 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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