Skip to main content

Diana Shipping commences self tender offer

Published by
Dry Bulk,


Diana Shipping Inc. has announced the commencement of a tender offer to purchase up to 1 408 450 shares, or about 1.5%, of its outstanding common stock using funds available from cash and cash equivalents at a price of US$3.55 per share. The tender offer will expire at the end of the day, 5:00 pm., Eastern Time, on 4 October 2019, unless extended or withdrawn.

The Board of Directors determined that it is in the company’s best interest to repurchase shares at this time given Diana Shipping’s cash position and stock price. The tender offer is not conditioned upon any minimum number of shares being tendered; however, the tender offer is subject to a number of other terms and conditions. Specific instructions and an explanation of the terms and conditions of the tender offer are contained in the offer to purchase and related materials that are being mailed to shareholders.

Diana Shipping Inc. has retained Computershare Trust Company, N.A. as the depositary for the tender offer and Georgeson LLC as the information agent.

Copies of the offer to purchase, the related letter of transmittal and the notice of guaranteed delivery are being mailed to the company’s shareholders. Additional copies of the offer to purchase, the related letter of transmittal or the notice of guaranteed delivery may be obtained at the company’s expense from the information agent at (800) 248-7690 (toll free). Questions regarding the tender offer should be directed to the information agent at (800) 248-7690 (toll free). Parties outside the US can reach the information agent at +1-781-575-2137.

Read the article online at: https://www.drybulkmagazine.com/shipping/09092019/diana-shipping-commences-self-tender-offer/

You might also like

Kabel Schlepp

WEBINAR - Key criteria to ensure proper selection of a cable drag chain

In this webinar KabelSchlepp will review and discuss the items needed to ensure that a cable track is properly selected and sized for the user’s application. How diameters and weights of the fill package effect cable track selection and how the jacket material of the fill package influences the cable track design. Register for free today »

 

Teck and CN announce rail shipping agreement

CN and Teck Resources Limited has announced a long-term rail agreement for shipping of steelmaking coal from Teck’s four BC operations between Kamloops and Neptune Terminals, and other west coast ports.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Dry cargo shipping news Dry bulk shipping market


 

Dry Bulk is not responsible for the content of external internet sites.