Diana commences self tender offer
(Posted on 24/04/19)
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced the commencement of a tender offer to purchase up to 3,125,000 shares, or about 3.1%, of its outstanding common stock using funds available from cash and cash equivalents at a price of $3.20 per share. The tender offer will expire at the end of the day, 5:00 P.M., Eastern Time, on May 13, 2019, unless extended or withdrawn.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 U.S. can reach the information agent at +1-781-575-2137.
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.
The Italian ship-owning Group Premuda, controlled by Pillarstone, the industrial and financial platform... Read more
Leading international shipping insurer North P&I Club has launched a new marine risk awareness solution... Read more
The International Maritime Employers’ Council (IMEC) has commissioned Ocean Technologies Group... Read more
ICC International Maritime Bureau (IMB) figures show a rise in piracy and armed robbery on the world... Read more
China Classification Society (CCS) grew its serviced fleet to 34,974 vessels in 2019, marking another... Read more
Leading international catering management and training provider, MCTC has revealed that COVID-19 has... Read more
The International Association of Dry Cargo Shipowners (INTERCARGO) has held its Annual General Meeting... Read more
The BRS Group has a new chairman. As the partnership agreement stipulates, on reaching the age of 65... Read more
Høglund Marine Solutions (Høglund) and Veracity by DNV GL (Veracity) have signed a collaboration... Read more
“As one of the world’s major shipping nations, Germany needs an LNG infrastructure for its... Read more