Tufton Oceanic Assets Limited — M&A Activity 2018

Dec 24, 2018

National Storage Mechanism | Additional information

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RNS Number : 3563L

Tufton Oceanic Assets Ltd.

24 December 2018

24 December 2018

Tufton Oceanic Assets Limited (the "Company")

$12.2m Investment in one Product Tanker

The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is pleased to announce that the Company has agreed to acquire one product tanker for $12.2m. This acquisition will take the Company's fleet to eleven vessels.

The vessel will have a floating rate time charter of one to two years to a major commodity trading and logistics company. The forecast yield exceeds the targets expressed in the Company's C Share prospectus.

This will be the fifth investment made from the C Share proceeds announced on 11 October 2018. The Company has invested approximately 90% of the C Share net proceeds.

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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