Safe Bulkers Announces Completion of Redemption of Series B Preferred Shares
February 20 2018 - 4:05PM
Safe Bulkers, Inc. (“Safe Bulkers”) (NYSE:SB), an international
provider of marine drybulk transportation services, announced today
the completion of its previously announced redemption (the
“Redemption”) of all outstanding 8.00% Series B Cumulative
Redeemable Perpetual Preferred Shares, par value $0.01 per share,
liquidation preference $25.00 per share (the “Series B Preferred
Shares”). The Series B Preferred Shares were redeemed at a
redemption price of $25.00 per share, plus all accumulated and
unpaid dividends to, but excluding the date of redemption (the
“Redemption Price”). As a result of the completion of the
Redemption, Series B Preferred Shares are no longer deemed
outstanding, all rights of the holders of such Series B Preferred
Shares have terminated except for the right to receive the
Redemption Price, without interest thereon and all distributions on
the Series B Preferred Shares have ceased to accumulate.
Furthermore, the Series B Preferred Shares will be delisted from
trading on the New York Stock Exchange.
About Safe Bulkers, Inc.
Safe Bulkers 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. Safe Bulkers common stock, Series C
preferred stock and Series D preferred stock are listed on the
NYSE, where they trade under the symbols “SB,” “SBPRC” and “SBPRD,”
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 the Section 21E of the Securities Exchange
Act of 1934, as amended) concerning future events, Safe Bulkers’
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 Safe Bulkers 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 which are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of Safe Bulkers. 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 Safe Bulkers operates, risks associated with
operations outside the United States and other factors listed from
time to time in Safe Bulkers’ filings with the Securities and
Exchange Commission. Safe Bulkers expressly disclaims any
obligations or undertaking to release any updates or revisions to
any forward-looking statements contained herein to reflect any
change in its 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
BarmparisPresidentSafe Bulkers, Inc.Tel.: +30 2 111 888 400+357 25
887 200E-Mail: directors@safebulkers.com
Investor Relations / Media
Contact:Nicolas Bornozis, PresidentCapital Link, Inc.230
Park Avenue, Suite 1536New York, N.Y. 10169Tel.: (212) 661-7566Fax:
(212) 661-7526E-Mail: safebulkers@capitallink.com
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