TEN Ltd. Announces New NYSE Ticker Symbol “TEN”
TEN , a leading operator in the crude, product, and LNG tanker market, announced a ticker symbol change for its NYSE-listed shares. Effective July 1, 2024, the common shares will change from 'TNP' to 'TEN.' The Series E and Series F Preferred Shares will also change to 'TEN-PRE' and 'TEN-PRF,' respectively. The new ticker symbol aims to align with the company's brand and growth in the maritime industry. No actions are required from existing shareholders, and the CUSIPs will remain the same.
- Ticker symbol change reflects strategic alignment with brand.
- Smooth transition with no required action from shareholders.
- No change in CUSIPs, ensuring continuity in shareholder records.
- Potential short-term confusion among investors due to symbol change.
- Possible costs associated with rebranding and updating ticker information.
ATHENS, Greece, June 14, 2024 (GLOBE NEWSWIRE) -- TEN, Ltd. (the “Company”), a leading diversified crude, product and LNG tanker operator, is pleased to announce an upcoming change in its ticker symbol. Effective Monday, July 1, 2024, the Company’s common shares will transition from “TNP” to “TEN” on the New York Stock Exchange (“NYSE”). The Company will continue to be listed on the NYSE under the name “Tsakos Energy Navigation Limited.”
In conjunction with this change, the ticker symbols for the Company’s Series E Cumulative Perpetual Preferred Shares (“Series E Preferred Shares”) and Series F Cumulative Perpetual Preferred Shares (“Series F Preferred Shares”) will correspondingly change from “TNP-PRE” to “TEN-PRE” and “TNP-PRF” to “TEN-PRF”, respectively, each effective Monday, July 1, 2024.
No action is required by existing shareholders with respect to the ticker symbol changes. The Company’s common shares, Series E Preferred Shares and Series F Preferred Shares will continue to be listed on the NYSE and the applicable CUSIPs will remain unchanged.
Mr. George Saroglou, President & COO of TEN, commented: “This initiative is a strategic step to better align our brand, reflecting our ongoing growth and leadership in the maritime energy transportation industry.”
ABOUT TEN Ltd.
TEN, founded in 1993 and celebrating this year 31-years as a public company, is one of the first and most established public shipping companies in the world. TEN’s pro forma diversified energy fleet currently consists of 74 vessels, including three DP2 shuttle tankers, two scrubber-fitted suezmax vessels and two scrubber-fitted MR product tankers and five scrubber-fitted Panamax tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carries, totaling 9.0 million dwt.
ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Company
Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Markella Kara
+212 661 7566
ten@capitallink.com
FAQ
What is the new ticker symbol for Tsakos Energy Navigation ?
When will TEN 's ticker symbol change on the NYSE?
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Why is TEN changing its ticker symbol?
