Safe Bulkers, Inc. Announces Results of 2022 Annual Meeting of Stockholders

Rhea-AI Summary

On September 26, 2022, Safe Bulkers, Inc. (NYSE: SB) elected Loukas Barmparis and Christos Megalou as Class II directors at its annual stockholders' meeting in Monaco. They will serve until the next meeting in 2025. Additionally, the appointment of Deloitte as the independent auditors for the fiscal year ending December 31, 2022, was ratified by stockholders. Safe Bulkers is a provider of marine drybulk transportation services, primarily transporting coal, grain, and iron ore along global shipping routes.

Positive

• Election of two Class II directors may contribute to strategic leadership.
• Ratification of Deloitte as independent auditors enhances financial oversight.

Negative

• None.

MONACO, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced the election of two Class II directors at the Company’s annual meeting of stockholders held in Monaco today.

Loukas Barmparis and Christos Megalou were elected Class II directors. The Class II directors were elected to hold office for a term ending at the annual meeting of stockholders in 2025 and until their respective successors have been duly elected and qualified.

Stockholders also ratified the appointment of Deloitte, Certified Public Accountants S.A. as the Company’s independent auditors for the fiscal year ending December 31, 2022.

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 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 that are inherently subject to significant uncertainties and contingencies, business disruptions due to natural disasters or other events, such as the recent COVID-19 pandemic, 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
Fax: +30 2 111 878 500
E-Mail: directors@safebulkers.com

Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, N.Y. 10169
Tel.: (212) 661-7566
Fax: (212) 661-7526
E-Mail: safebulkers@capitallink.com

FAQ

Who were elected as Class II directors for Safe Bulkers on September 26, 2022?

Loukas Barmparis and Christos Megalou were elected as Class II directors.

What was ratified at Safe Bulkers' annual meeting on September 26, 2022?

The appointment of Deloitte as the independent auditors for the fiscal year ending December 31, 2022, was ratified.

What is the significance of the new directors elected for Safe Bulkers?

The election of new directors may influence the company's strategic direction and governance.