Safe Bulkers, Inc. Adopts Shareholders Rights Plan
06 Agosto 2020 - 2:00PM
Safe Bulkers, Inc. (“Safe Bulkers” or the “Company”) (NYSE: SB), an
international provider of marine drybulk transportation services,
announced that its Board of Directors has unanimously adopted a
shareholders rights plan (the “Rights Plan”), as the previously
existing rights plan had expired, following careful consideration
of the uncertainties related to the long term impact on global
trade and dry-bulk shipping of the 2019 Novel Coronavirus pandemic,
the cyclicality of the dry-bulk shipping market, the need to
promote the fair and equal treatment of all shareholders of the
Company and to provide the Board and shareholders with adequate
time to make informed decisions and ensure that the Board remains
in the best position to discharge its fiduciary duties to the
Company and its shareholders. The Board of Directors declared a
dividend of one right for each outstanding share of Safe Bulkers
common stock. The dividend is payable on August 20, 2020 to the
shareholders of record on August 17, 2020. The rights will be
traded with the shares of Safe Bulkers’ common stock and will
become exercisable for Safe Bulkers common stock only if a person
or group acquires beneficial ownership of 10% or more of Safe
Bulkers’ common stock. The Rights Plan expires on August 5, 2030,
and the Board of Directors may terminate the Rights Plan at any
time if it no longer believes that the Rights Plan is in the best
interests of the Company and its shareholders.
Additional details about the Rights Plan will be
contained in a Form 6-K to be filed by Safe Bulkers with the U.S.
Securities and Exchange Commission.
Cadwalader, Wickersham & Taft LLP is serving
as legal advisor to Safe Bulkers.
About Safe Bulkers, Inc.
The Company is an international provider of
marine drybulk transportation services, transporting bulk cargoes,
particularly coal, grain and iron ore, along worldwide shipping
routes for some of the world’s largest users of marine drybulk
transportation services. The Company's common stock, Series C and
Series D preferred stock is listed on the NYSE, where it trades
under the symbols “SB”, “SB.PR.C” and “SB.PR.D”, respectively.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and in the Section 21E of the Securities Exchange
Act of 1934, as amended) concerning future events, the Company’s
growth strategy and measures to implement such strategy, including
expected vessel acquisitions and entering into further time
charters. Words such as “expects,” “intends,” “plans,” “believes,”
“anticipates,” “hopes,” “estimates” and variations of such words
and similar expressions are intended to identify forward-looking
statements. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates which are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of the Company. Actual results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, changes in
the demand for drybulk vessels, competitive factors in the market
in which the Company operates, risks associated with operations
outside the United States and other factors listed from time to
time in the Company’s filings with the Securities and Exchange
Commission. The Company expressly disclaims any obligations or
undertaking to release any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
For further information please
contact:
Company Contact: |
Dr. Loukas Barmparis |
President |
Safe Bulkers, Inc. |
Tel.: +30 2 111 888 400 |
|
+357 25 887
200 |
E-Mail: directors@safebulkers.com |
Investor Relations / Media
Contact:Nicolas Bornozis, PresidentCapital Link, Inc.230
Park Avenue, Suite 1536New York, N.Y. 10169Tel.: (212) 661-7566Fax:
(212) 661-7526E-Mail: safebulkers@capitallink.com
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