Genco Shipping & Trading Limited reminded shareholders to vote before the 11:59 PM ET deadline today in its ongoing proxy battle with Diana Shipping Inc. The company urged investors to support its six director nominees on the WHITE proxy card and withhold votes from Diana’s two handpicked candidates, Jens Ismar and Paul Cornell, citing recommendations from all three major proxy advisory firms—ISS, Glass Lewis, and Egan-Jones. Genco also called on shareholders to reject Diana’s $24.80 per share tender offer, which it says significantly undervalues the company and lacks an appropriate control premium. The board highlighted its Comprehensive Value Strategy that has delivered $7.16 per share in dividends and 210% total shareholder return since April 2021, while criticizing Diana’s nominees for ties to value destruction and lack of independence. Genco further urged approval of its Shareholder Rights Agreement to prevent Diana from gaining creeping control without fair compensation.
Genco Shipping & Trading LtdGenco is the subject of the article, urging shareholders to vote for its nominees and reject Diana's undervalued tender offer, highlighting its strong dividend and shareholder return.
Diana Shipping Inc.
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