Perseus Shipping Fund PLC Fact Sheet

1. The shipping sector presents an attractive,
uncorrelated investment opportunity to
sophisticated and institutional investors.
The Perseus Shipping Fund seeks to achieve
capital growth for the benefit of the shareholders
through investing substantially all of its assets
into ‘PSI Holding GmbH & Co. KG’, a German
Limited partnership which in turn will invest into
maritime vessels.
The reason for such structuring is to benefit from
the preferential ‘German Tonnage Tax’ system
which will ultimately assist in the enhancement of
returns to investors.
The Partnership into which the Perseus Shipping
Fund will exclusively invest may make direct
investments or may form special purpose vehicles
“SPVs”, to make investments in the following
sectors;
• Provision of mezzanine capital for financing/
restructuring of ship companies
• Acquisition of participations in ship companies
• Investment in bareboat Structures
• Direct investment in vessels
Fund Overview
• Launch Date: February 2018
• Fund Domicile: Isle of Man
• Fund Type: Specialist
• Objective: Capital Growth
• Fund Structure: Open-ended Investment
Company
• Investment Term: 5 Years
(reducing redemption charge)
• Sector: Shipping
• Minimum Investment: $100,000
• Currency Denomination: US Dollars
• Dealing: Semi-Annually (July & January)
• Administrator: Estera Fund Services (Isle of
Man) Limited
• Sponsor: TB Marine-Hamburg GmbH
• Auditor: KPMG
• Initial Charge: Up to 5%
• Management Fee: Nil
• Target Annual Return 8%
Quick Facts
www.perseusplc.com | Fund Fact Sheet | February 2018
Perseus Shipping Fund plc (the “Fund”) is a company incorporated in the Isle of Man under the Companies Act 2006 as an open-ended investment company and is a specialist
fund pursuant to the provisions of the Collective Investment Schemes (Specialist Fund) Regulations 2010. Shares in the Fund are only available to persons who qualify as
specialist investors in relation to the Fund for the purposes of the Regulations. Nothing in this document should be considered an invitation to invest and prospective investors
should always seek appropriate professional advice from a suitably qualified investment advisor prior to making such an investment.
Fund Composition Strategy

2. About The Sponsor:
TB Marine-Hamburg
The Fund’s Sponsor is TB Marine-Hamburg GmbH, a company incorporated under the laws of Germany. The
Sponsor has been appointed by the Fund to provide the Directors with advice and assistance regarding all aspects
of the Fund’s operations including its investments, in accordance with the investment objective and strategy of the
Fund. In particular, the Sponsor will advise the Directors concerning the Fund’s investments in the Partnership and
provide assistance to the Directors in assessing the investments made and to be made by the Partnership.
TB Marine Hamburg GmbH was founded in 2005 and is a specialist in liquid oil, product and chemical tanker
transportation. The founders are Stephan Bracker and Steffen Thate who have between them over 70 years
experience and expertise in shipping. TB Marine has grown to be a medium sized niche player in the energy
market with 40 highly sophisticated vessels serving the transport needs of all Oil Major Companies including Shell,
BP, Total, Exxon/Mobil, ENI and OMV and in addition traders such as Glencore, Vitol, Cargill and Valero.
Fund Directors
Andy Robinson
Andy is a seasoned experienced business man and entrepreneur, who has been involved in
various businesses at senior board level positions for over 30 yrs. Primarily he has concentrated
in the Real Estate sectors including investment and development, having worked with both
national retailers and also private development companies. Andy has bought, let, built and sold
over 3m sq ft of property, which has included large format retail, high street retail, industrial
distribution and latterly residential both new build and conversions of existing large office
building under ‘permitted development rights’.
This form of development has required a deep understanding of legal, occupational and
institutional markets. He has been involved in large scale funding and banking arrangements
during the course of his career to date. Andy has run his own companies and has recently with
the backing of others started a construction business which has successfully gone from inception
to £75m turnover in 3 years. He has extensive contacts across a number of sectors and is a
regular public speaker at industry events.
Richard MacNee
Richard currently heads the business development function of a leading international fiduciary
business. Prior to this Richard held various roles in the asset finance industry for 20 years (a
large part of that time with Lombard - part of The Royal Bank of Scotland), where he was latterly
Managing Director of offices in the Isle of Man and Gibraltar.
Robert Kirkham
Rob has been a Principal with Baker Tilly Isle of Man since 2007. In addition to acting as
engagement partner on audit and assurance engagements he is a Director of their Fiduciary
Services Business providing advice and structures to high net worth individuals and companies
all over the world.
Note:
All of the directors act in a non-executive
capacity and are independent of the fund
Sponsor. The Directors occupy a fiduciary
position in relation to the Fund and are
under a duty to act in the best interests
of the Fund and in accordance with the
constitutional documents of the Fund. In
exercising and performing their duties as
directors, the Directors must act with all due
skill, care and diligence.
www.perseusplc.com | Fund Fact Sheet | February 2018

3. The Fund’s Sponsor and the Advisor to the Board of
the Perseus Shipping Fund is TB Marine GmbH, a
specialist in Liquid Oil, Product and Chemical Tanker
transportation. The company was founded in 2005
and its ship management sister company in 2007 by
Stephan Bracker and Steffen Thate. Between them
they have over 70 years’ experience and expertise in
the shipping industry.
The company has over the years grown to be a
medium sized niche player in the energy market with
40 technical high sophisticated vessels serving the
transport needs of all Oil Major Companies (including
Shell, BP, Total, Exxon/Mobil, ENI and OMV and
others) and in addition Traders (like Glencore, Vitol,
Cargill and Valero).
Both companies are fully recognized in the tanker
industry for fulfilling the highest management
standards. The difficulties of many ship owners with
diverse portfolios coupled with lending pressure from
their respective financing Banks enables TB Marine to
identify ship assets in their specialist field.
Commercial Management
TB Marine has direct market access via brokers such
as Clarkson / Maersk Brokers / Arrow Tankers and
others, banks and AAA clients and has completed
more than 100 sales transactions between 2002
and 2013 with a turnover resale profit of USD 400
million.
Ship Operations and Vetting (External Oil
Major Assessment of each ship)
The company operates a fleet of IMO II / III classified
chemical / oil tankers – each built and operated in
accordance with the highest quality and reliability
standards. TB Marine has enjoyed zero commercial
rejection in 2013 and the highest KPI rated by all Oil
Majors, Pool Managers, Charterers and Traders.
Fund Sponsor
Profile
Crew Management & Recruitment
TB Marine has well established Crewing Companies
in Odessa/Ukraine, Riga/Latvia and in Limassol/
Cyprus to ensure direct access to the main manning
recourses in tanker business. The combined
management team has more than 200 years’ industry
experience and in excess of 1500 sea men employed
with a retention rate – across all ranks of 100% which
is virtually unheard of within the shipping industry.
Safety & Quality Management
Safety & Quality Management Safety, Quality and
Sustainability are paramount to TB Marine’s business
which continuously aims to improve its Health, Safety,
Environmental and Quality (HSEQ) performances.
Furthermore in order to achieve the highest industry
standards, TB Marine shares best management
practices with other tanker operators.
The Advisory Process to the Board of the
Perseus Shipping Fund plc
TB Marine Hamburg GmbH shall maintain open
and regular dialogue with the Board of the Perseus
Shipping Fund plc to identify suitable opportunities
for investment by the fund; such as distressed Marine
assets which might be acquired at considered below
market value. The Fund may also, on the advice of
TB Marine consider the provision of secured short-term
mezzanine finance for the acquisition of vessels by
certain third party shipping companies.
Contact Us
Andy@perseusplc.com
Invest@perseusplc.com
www.perseusplc.com | Fund Fact Sheet | February 2018