Genco Shipping & Trading Limited Announces Change of Location for 2020 Annual Meeting of Shareholders

Rhea-AI Summary

Genco Shipping & Trading Limited (NYSE: GNK) has rescheduled its 2020 Annual Meeting of Shareholders to take place at Ink 48 Hotel, New York, at 10:00 a.m. on July 15, 2020, due to COVID-19 concerns. Shareholders as of the record date, May 22, 2020, may attend the meeting. Existing proxy cards will remain valid for voting despite the location change. Genco's fleet comprises 17 Capesize, 6 Ultramax, 20 Supramax, and 10 Handysize vessels, totaling approximately 4,837,000 dwt with an average age of 10 years.

Positive

• Shareholders retain the ability to vote using previously distributed proxy cards.
• Genco has a diverse fleet consisting of various types of vessels, which may enhance its operational flexibility.

Negative

• None.

NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”) today announced that it has changed the location of its 2020 Annual Meeting of Shareholders to be held at 10:00 a.m. on Wednesday, July 15, 2020. The new location of the meeting is Ink 48 Hotel, 653 Eleventh Avenue, New York, NY 10036. Due to the coronavirus pandemic, the previously announced location for the meeting is not expected to be available.

As described in the proxy materials for the Annual Meeting distributed beginning on June 5, 2020, shareholders at the close of business on the record date, May 22, 2020, are entitled to attend the Annual Meeting.

The proxy card and voting instruction form included with previously-distributed proxy materials will not be updated to reflect the change of the meeting location but may nevertheless be used to vote shares in connection with the Annual Meeting. Whether or not shareholders plan to attend the Annual Meeting, the Company urges shareholders to vote and submit their proxies in advance of the meeting by one of the methods described in the proxy materials. Shareholders who have already sent in proxies, or submitted their proxies via telephone or internet, do not need to take any further action.

For additional information regarding the Annual Meeting, please refer to the Company’s proxy materials filed with the Securities and Exchange Commission, including the Company’s definitive proxy statement filed on June 5, 2020.

About Genco Shipping & Trading Limited

Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. As of June 25, 2020, Genco Shipping & Trading Limited’s fleet consists of 17 Capesize, six Ultramax, 20 Supramax and 10 Handysize vessels with an aggregate capacity of approximately 4,837,000 dwt and an average age of 10.0 years.

CONTACT:
Apostolos Zafolias
Chief Financial Officer
Genco Shipping & Trading Limited
(646) 443-8550

 

FAQ

What is the new location for Genco Shipping's 2020 Annual Meeting?

The new location is Ink 48 Hotel, 653 Eleventh Avenue, New York, NY 10036.

When is Genco Shipping's 2020 Annual Meeting scheduled?

The meeting is scheduled for 10:00 a.m. on July 15, 2020.

Can I still vote if I have not changed my proxy card for the new location?

Yes, the previously distributed proxy cards may still be used for voting.

What types of vessels does Genco Shipping operate?

Genco operates 17 Capesize, 6 Ultramax, 20 Supramax, and 10 Handysize vessels.

What is the total deadweight tonnage of Genco Shipping's fleet?

Genco's fleet has an aggregate capacity of approximately 4,837,000 dwt.