Safe Bulkers, Inc. Announces Common Stock Repurchase Program
June 21 2022 - 4:05PM
Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international
provider of marine drybulk transportation services, announced today
that it has authorized a program under which it may from time to
time in the future purchase up to 5,000,000 shares of the Company’s
common stock. If the maximum number of shares of the Company’s
common stock are purchased pursuant to the aforementioned program,
it would represent approximately 4.1% of the shares of the
Company’s common stock outstanding and 6.9% of its public float.
The program does not obligate the Company to
purchase shares of the Company’s common stock and the program may
be modified or terminated at any time without prior notice. Any
such purchases will be made in the open market in compliance with
applicable laws and regulations, and that purchases on the open
market will be conducted within the safe harbor provisions of
Regulation 10b-18 under the Securities Exchange Act of 1934, as
amended. The purchases will be funded using the Company’s existing
cash resources.
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 B
preferred stock, series C preferred stock and series D preferred
stock are listed on the NYSE, and trade 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
BarmparisPresidentSafe Bulkers, Inc.Athens, GreeceTel.: +30 2 111
888 400Fax: +30 2 111 878
500E-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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