Sec Form 13D Filing - Taylor Maritime Investments Ltd filing for GRINDROD SHIPPING HLDGS LTD SH (GRIN) - 2024-04-08

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: ☐

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7(b) for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

(1)   Based on 19,685,590 ordinary shares, no par value, outstanding as of March 26, 2024, as reflected in the Form 20-F filed by Grindrod Shipping Holdings Ltd. with the U.S. Securities and Exchange Commission on March 27, 2024.

EXPLANATORY NOTE

This Amendment No. 8 (this “Amendment”) to the Schedule 13D filed with the U.S. Securities and Exchange Commission on December 20, 2021, as amended and supplemented by Amendment No. 1 filed on January 3, 2022, Amendment No. 2 filed on August 29, 2022, Amendment No. 3 filed on September 30, 2022, Amendment No. 4 filed on October 13, 2022, Amendment No. 5 filed on Schedule TO on October 31, 2022, Amendment No. 6 filed on Schedule TO on November 29, 2022 and Amendment No. 7 filed on Schedule TO on December 20, 2022 (as so amended and supplemented, the “Schedule 13D”), is being filed on behalf of Taylor Maritime Investments Limited, a Guernsey company limited by shares (“Taylor Maritime”), and Good Falkirk (MI) Limited, a Marshall Islands company and wholly-owned subsidiary of Taylor Maritime (“Good Falkirk” and, together with Taylor Maritime, the “Reporting Persons”), with respect to the ordinary shares, no par value (the “Ordinary Shares”), of Grindrod Shipping Holdings Ltd., a corporation incorporated in accordance with the laws of the Republic of Singapore (the “Issuer”).

Other than as specifically set forth below, all Items in the Schedule 13D remain unchanged. Capitalized terms in this Amendment which are not defined herein have the meanings given to them in the Schedule 13D.

ITEM 2.        IDENTITY AND BACKGROUND

Item 2 of the Schedule 13D is hereby amended by replacing in their entirety Appendixes A-1 and A-2 with Appendixes A-1 and A-2 attached hereto and which are incorporated herein by reference.

ITEM 3.        SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

Item 3 of the Schedule 13D is hereby amended and supplemented by adding the following information:

The information set forth Item 4 of this Amendment is incorporated by reference into this Item 3.

ITEM 4.         PURPOSE OF TRANSACTION

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information:

On April 4, 2024, the Issuer issued an announcement (the “Announcement”) that it proposes to seek the approval of the shareholders of the Issuer, at an extraordinary general meeting to be convened, for a selective capital reduction to be undertaken by the Issuer pursuant to sections 78G to 78I of the Companies Act 1967 of Singapore (the “Selective Capital Reduction”).

Under the terms of the proposed Selective Capital Reduction, all of the Ordinary Shares held by the shareholders of the Issuer other than Good Falkirk, comprising an aggregate total of 3,479,225 Ordinary Shares, will be cancelled and each shareholder participating in the proposed Selective Capital Reduction will receive US$14.25 for each Ordinary Share held that is cancelled as a result of the proposed Selective Capital Reduction.

The proposed Selective Capital Reduction will be funded from existing cash and cash equivalents of the Issuer.

The proposed Selective Capital Reduction will be conditional on the satisfaction of the conditions set out in the Announcement.

If the proposed Selectiv e Capital Reduction becomes effective, following the consummation of the proposed Selective Capital Reduction all the Ordinary Shares will be owned by Good Falkirk.

The foregoing description of the Announcement, the proposed Selective Capital Reduction and the proposed transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the full text of the Announcement, a copy of which is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

ITEM 5.        INTEREST IN SECURITIES OF THE ISSUER

Item 5 of the Schedule 13D is hereby amended and restated as follows:

(a) and (b)

The information contained in lines 7 to 11 and 13 of the cover pages of this Amendment is incorporated herein by reference.

The information set forth under Item 4 of this Amendment is incorporated herein by reference.

To the knowledge of the Reporting Persons, no other person has the right to receive, or the power to direct the receipt of, dividends from, or the proceeds of the sale of, the securities that are the subject of this Schedule 13D.

Not applicable.

ITEM 6.        CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER

Item 6 of the Schedule 13D is hereby amended and supplemented by adding the following information:

The information set forth Item 4 of this Amendment is incorporated by reference into this Item 6.

ITEM 7.        MATERIAL TO BE FILED AS EXHIBITS

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete, and correct.

Dated:  April 8, 2024

	TAYLOR MARITIME INVESTMENTS LIMITED
	By:	/s/ Sandra Platts
	Name:	Sandra Platts
	Title:	Director
	GOOD FALKIRK (MI) LIMITED
	By:	/s/ Sandra Platts
	Name:	Sandra Platts
	Title:	Duly authorized signatory for TMI Director 1 Limited, the sole director of Good Falkirk (MI) Limited

Name, Business Address, and Citizenship	Present Principal Occupation (principal business of employer)	Name and Address of Corporation or Other Organization (if different from address provided in column 1)
Sandra Platts (British) 1 Royal Plaza Royal Avenue St Peter Port Guernsey GY1 2HL	Non-Executive Director
Christopher Richard Buttery  (British) 1 Royal Plaza Royal Avenue St Peter Port Guernsey GY1 2HL	Non-Executive Director
Edward David Christopher Buttery (Britis h) 1 Royal Plaza Royal Avenue St Peter Port Guernsey GY1 2HL	Chief Executive Officer
Charles Goodson Maltby (British) 1 Royal Plaza Royal Avenue St Peter Port Guernsey GY1 2HL	Non-Executive Director
Henry Clavering Tollemache Strutt (British) 1 Royal Plaza Royal Avenue St Peter Port Guernsey GY1 2HL	Non-Executive Director

Trudi Clark (British) 1 Royal Plaza Royal Avenue St Peter Port Guernsey GY1 2HL	Non-Executive Director
Francis Dunne (British) 1 Royal Plaza Royal Avenue St Peter Port Guernsey GY1 2HL	Non-Executive Director

EXECUTIVE OFFICERS AND DIRECTORS

OF

GOOD FALKIRK (MI) LIMITED

Set forth below is a list of each executive officer and director of Good Falkirk (MI) Limited setting forth the citizenship, business address, and present principal occupation or employment (and the name and address of any corporation or organization in which such employment is conducted) of each person: