Diana Shipping Inc. Focuses Proxy Contest on Election of Jens Ismar and Paul Cornell to Genco Shipping & Trading Board
View original at globenewswire.comDiana Shipping Inc…
What we drew from this source
The claims Via News extracted from this document. We point to the source; we don't replace it.
Jens Ismar and Paul Cornell are highly experienced drybulk shipping executives who would be exceptional Genco directors, regarded as collaborative and constructive business leaders.
60% confidenceIf the tender offer is completed and the second-step merger is consummated, all Genco shareholders — whether or not they tender — would receive $24.80 per share in cash.
60% confidenceDiana is the largest shareholder of Genco Shipping & Trading Limited.
60% confidencePaul Cornell's experience building, growing, and realizing value from drybulk shipping companies across multiple market cycles is precisely the perspective the Genco Board has been missing.
60% confidenceDiana's $24.80 per share all-cash offer is inextricably linked to the outcome of the Annual Meeting; if Ismar and Cornell are not elected, Diana will have no choice but to reassess the continuation of its offer.
60% confidenceNeither Jens Ismar nor Paul Cornell has any financial relationship with Diana; both were chosen for their accomplishments in the drybulk industry and their ability to act as genuinely independent directors.
60% confidenceChange is needed on the Genco Board regardless of the outcome of Diana's acquisition offer.
60% confidenceISS recommends shareholders vote against Genco's overly aggressive poison pill, which validates the concerns Diana has raised throughout its campaign.
60% confidenceGenco shareholders should vote to effect change on the Genco Board and ensure there are voices on the Board open to exploring all value creation opportunities for shareholders.
60% confidence