Global Ship Lease Announces Annual Meeting of Shareholders

Rhea-AI Summary

Global Ship Lease (NYSE:GSL) has scheduled its Annual Meeting of Shareholders for August 5, 2021, at 12:00 p.m. ET. The record date for eligible shareholders was July 13, 2021. Documentation and voting instructions have been sent to all shareholders. As of May 31, 2021, Global Ship Lease operates a fleet of 49 containerships with a total capacity of 344,650 TEU, including 32 Post-Panamax vessels. The average remaining charter term is 2.6 years, with contracted revenue of $984.3 million.

Positive

• Scheduled Annual Meeting on August 5, 2021, allowing shareholder participation.
• Diversified fleet of 49 containerships with a total capacity of 344,650 TEU.
• Average remaining charter term of 2.6 years, indicating revenue stability.
• Contracted revenue of $984.3 million enhances financial outlook.

Negative

• None.

LONDON, July 27, 2021 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE:GSL) (the “Company”) has scheduled its Annual Meeting of Shareholders for August 5, 2021, at 12:00 p.m. Eastern Time. The record date for determining shareholders entitled to participate at the Annual Meeting was July 13, 2021. Meeting documentation and instructions for voting have been mailed to all shareholders of record.

About Global Ship Lease

Global Ship Lease is a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under fixed-rate charters to top tier container liner companies. On November 15, 2018, it completed a strategic combination with Poseidon Containers.

As at May 31, 2021, Global Ship Lease owned 49 containerships and had contracted to purchase one more ship. Subsequently, the Company contracted to purchase a further 16 ships. The fully delivered fleet ranges from 1,118 to 11,040 TEU, with a total capacity of 344,650 TEU. 32 ships are Post-Panamax, of which nine are fuel-efficient new-design wide-beam.

The average remaining term of the Company’s charters as at March 31, 2021, to the mid-point of redelivery and including options under the Company’s control, adjusted to include charters agreed and ships acquired or sold, up to May 31, 2021, and thus excluding the 16 vessels subsequently agreed to be acquired, was 2.6 years on a TEU-weighted basis. Contracted revenue on the same basis was $984.3 million. Contracted revenue was $1,134.9 million, including options under charterers’ control and with latest redelivery date, representing a weighted average remaining term of 3.1 years.

Investor and Media Contact:
The IGB Group
Bryan Degnan
646-673-9701
or
Leon Berman
212-477-8438

FAQ

What is the date of Global Ship Lease's Annual Meeting in 2021?

Global Ship Lease's Annual Meeting is scheduled for August 5, 2021.

When was the record date for shareholders to participate in the Annual Meeting?

The record date for eligible shareholders was July 13, 2021.

How many containerships does Global Ship Lease own as of May 31, 2021?

Global Ship Lease owns 49 containerships as of May 31, 2021.

What is the contracted revenue reported by Global Ship Lease?

Global Ship Lease reported contracted revenue of $984.3 million.

What is the average remaining charter term for Global Ship Lease's vessels?

The average remaining charter term is 2.6 years.