Diana Shipping urges Genco shareholders to vote AGAINST poison pill
Diana Shipping Inc., the largest shareholder of Genco Shipping & Trading Limited, has filed an amendment to its tender offer statement, urging Genco shareholders to vote against the ratification of Genco's poison pill and equity incentive plan. Diana Shipping also called for shareholders to vote for its director nominees, Jens Ismar and Paul Cornell, and to withhold votes for current directors Basil G. Mavroleon and Arthur L. Regan, ahead of the Annual Meeting on June 18, 2026. Diana Shipping, through its subsidiary, beneficially owns 14.4% of Genco's common stock and is pursuing a cash tender offer of $24.80 per share.
Key Highlights
- Diana Shipping urges Genco shareholders to vote AGAINST ratifying the poison pill.
- Diana Shipping urges Genco shareholders to vote AGAINST the equity incentive plan.
- Diana Shipping recommends voting FOR Jens Ismar and Paul Cornell for the Genco Board.
- Diana Shipping recommends WITHHOLDING votes for Basil G. Mavroleon and Arthur L. Regan.
- Diana Shipping Inc. beneficially owns 6,264,548 shares of Genco, representing 14.4% of the class.
- The tender offer by Diana's subsidiary is for $24.80 per share in cash.
- Genco's Annual Meeting is scheduled for June 18, 2026.
Price Impact
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