23 October 2018
Tufton Oceanic Assets Limited (the "Company")
$7.25m Additional Investment in a LPG Carrier
The Board of Tufton Oceanic Assets Limited (ticker: SHIP.L) is pleased to announce that the Company has acquired the remaining 25% interest in a LPG Carrier for cash consideration of US$7.25m. This follows the acquisition of a 75% interest in the LPG Carrier for $21.75m, as announced on 25 July 2018, and is the first investment made from the C Share proceeds announced on 11 October 2018.
The vessel commenced a seven-year bareboat charter to a leading gas shipping operator on 1 August 2018. The LPG Carrier is now 100% owned by the Company after acquiring the interest held by the bareboat charterer.
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 (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.
