Performance Shipping Inc. Announces Results of 2022 Annual General Meeting of Shareholders

Rhea-AI Summary

Performance Shipping Inc. (NASDAQ: PSHG) held its Annual General Meeting on February 28, 2022, in Athens, Greece. Key proposals approved include the election of Alex Papageorgiou and Mihalis Boutaris as Class III directors, whose terms expire in 2025, and Loïsa Ranunkel as a Class I director, whose term ends in 2023. Additionally, Ernst & Young was appointed as the company's independent auditors for the fiscal year ending December 31, 2022. The Company specializes in owning Aframax tankers deployed on spot voyages, time charters, and pool arrangements.

Positive

• Approval of key director elections strengthens governance.
• Appointment of Ernst & Young enhances credibility as independent auditors.

Negative

• None.

ATHENS, Greece, March 02, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tanker vessels, announced today that the Company’s Annual General Meeting of Shareholders (the “Meeting”) was duly held on February 28, 2022, in Athens, Greece, pursuant to a Notice of Annual Meeting of Shareholders dated February 3, 2022. Broadridge Financial Solutions, Inc. acted as inspector of the Meeting.

At the Meeting, each of the following proposals, which are set forth in more detail in the Notice of Annual Meeting of Shareholders and the Company's Proxy Statement sent to shareholders on or around February 3, 2022, was approved and adopted:

(1)  The election of Alex Papageorgiou and Mihalis Boutaris, each as a Class III director, whose term will expire at the Company’s 2025 annual meeting of shareholders, and the election of Loïsa Ranunkel, as a Class I director, whose term will expire at the Company’s 2023 annual meeting of shareholders; and

(2)  The appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the Company's independent auditors for the fiscal year ending December 31, 2022.

About the Company

Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of Aframax tankers. The Company’s current fleet is employed on spot voyages, time charters, and through pool arrangements.

FAQ

What proposals were approved at Performance Shipping's Annual General Meeting on February 28, 2022?

The proposals included the election of Alex Papageorgiou and Mihalis Boutaris as Class III directors, and Loïsa Ranunkel as a Class I director, along with the appointment of Ernst & Young as independent auditors.

Who were elected as directors in the recent Performance Shipping meeting?

Alex Papageorgiou and Mihalis Boutaris were elected as Class III directors, while Loïsa Ranunkel was elected as a Class I director.

Who is the independent auditor for Performance Shipping in 2022?

Ernst & Young (Hellas) Certified Auditors Accountants S.A. was appointed as the independent auditor for the fiscal year ending December 31, 2022.

When will the terms of the newly elected directors expire?

The terms of Alex Papageorgiou and Mihalis Boutaris will expire at the 2025 Annual Meeting, and Loïsa Ranunkel's term will expire at the 2023 Annual Meeting.