Tufton Oceanic Assets (LSE:SHIP)

The investment objective is to provide investors with an attractive level of regular and growing income and capital returns through investing in second hand commercial sea-going vessels. The company will make investments through a Guernsey holding company into one or more underlying SPVs which will mainly be wholly owned by the Guernsey holding company and over which the company will exercise control with regards to investment decisions. The company may from time to time invest through vehicles which are not wholly owned by it. In such circumstances, the company will seek to secure controlling rights over such vehicles through shareholder agreements or other legal arrangements.