We are delighted to announce that the TIME:EIS portfolio company, Agenor Shipping Ltd (Agenor), has successfully completed its acquisition of a dry bulk carrier which is now fully crewed and operational under the British Flag.

 

Renaming the vessel
As part of the change in ownership, Agenor was required to rename the vessel. To reflect the UK’s long maritime history, we have chosen to rename the vessel ‘Grasshopper’. This is a reference to the ‘Grasshopper Escapement’, a low friction device invented by British clockmaker John Harrison to enable pendulum clocks to keep accurate time when used at sea. Following the perfection of the Grasshopper Escapement, John Harrison’s clocks played a pivotal role in marine navigation during the eighteenth century and were instrumental in the growth of the UK as the world’s leading maritime nation.

 

Track our ships
The Grasshopper can be tracked in real-time, so please do check in from time to time via our website at www.time-investments.com/map. On it, there is a link to a free website called marinetraffic.com which will take you to Grasshopper’s official page, showing key information about the vessel along with its latest position.

 

TIME:EIS SHIPPING TRANCHE 2 – LIMITED CAPACITY REMAINING

TIME:EIS Shipping tranche 2 is open for investment with limited capacity remaining. This is one of just a handful of asset backed EIS opportunities available in the market.
Key features:

  • Invests in dry bulk shipping
  • Tranche 1 successfully raised and deployed
  • Asset backed, with expectation of investment realisation within 4-5 years
  • Vessel purchased without use of debt, thereby reducing the overall risk profile
  • Advance assurance granted by HMRC
  • Base case target return of £1.27 for each net 70p invested
  • Highly rated by independent researchers (MICAP, Martin Churchill, Allenbridge)
  • Minimum investment £10,000

 

Find out more about TIME:EIS Shipping

 

If you have any questions please contact us on 020 7391 4747 or email questions@time-investments.com.

Posted: 01/11/2016
<< >>