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 The tender offer will expire at the end of the day, 5:00 P.M., Eastern Time, on May 13, 2019, unless extended or withdrawn.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.
DNV GL’s is continuing long-standing efforts to ensure safe performance of aft most propeller... Read more
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has... Read more
The Britannia Steam Ship Insurance Association Limited has declared a USD15 million capital distribution... Read more
Fleet Management continues its string of 25th-anniversary celebrations with the second gala dinner hosted... Read more
Confirming Singapore’s position as an international hub for innovation, the Singapore Shipping... Read more
Capt Heinrich Schoeller, Chairman of Columbia Shipmanagement (CSM) and the Columbia Board of Directors... Read more
“Digitalization brings great benefits and has the potential to create greater equality in the... Read more
The International Association of Dry Cargo Shipowners, INTERCARGO held its Annual General Meeting, Executive... Read more
BHP’s Maritime and Supply Chain Excellence team and Klaveness Digital are working together to... Read more
Palau International Ship Registry (PISR) has completed a survey (IMO 2020 Sulphur Regulation | Your... Read more