Genco Shipping & Trading Limited Shareholders Invited to Webcast with Board and Management Team
April 29 2024 - 8:00AM
Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the
“Company”), the largest U.S. headquartered drybulk shipowner
focused on the global transportation of commodities, today
announced that members of its Board of Directors and management
team will host a webcast on Wednesday, May 8, 2024 at 8:30AM ET, in
which the Company will answer questions submitted by Genco
shareholders about its business, the Company’s upcoming Annual
Meeting and the actions the Board and management team are taking to
generate value for all shareholders. The webcast will be available
at www.VoteForGenco.com.
Genco shareholders can submit questions by emailing
voteforgenco@gencoshipping.com. The deadline for submitting
questions is Monday, May 6, 2024 at 10:00AM ET.
VOTE TODAY FOR GENCO’S NOMINEES
The Genco Board of Directors unanimously recommends that Genco
shareholders vote “FOR” the reelection of each of Genco’s seven
nominees currently serving on the Genco Board on the WHITE proxy
card.
Vote online, by phone, or by signing and returning your Proxy.
Learn more at www.VoteForGenco.com.
About Genco Shipping & Trading Limited
Genco Shipping & Trading Limited is a U.S. based drybulk
ship owning company focused on the seaborne transportation of
commodities globally. We provide a full-service logistics solution
to our customers utilizing our in-house commercial operating
platform, as we transport key cargoes such as iron ore, grain,
steel products, bauxite, cement, nickel ore among other commodities
along worldwide shipping routes. Our wholly owned high quality,
modern fleet of dry cargo vessels consists of the larger Capesize
(major bulk) and the medium-sized Ultramax and Supramax vessels
(minor bulk) enabling us to carry a wide range of cargoes. We make
capital expenditures from time to time in connection with vessel
acquisitions. As of April 29, 2024, Genco Shipping & Trading
Limited’s fleet consists of 16 Capesize, 15 Ultramax and 12
Supramax vessels with an aggregate capacity of approximately
4,490,000 dwt and an average age of 11.8 years.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
This release contains certain forward-looking statements
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements use
words such as “expect,” “intend,” “plan,” “believe,” and other
words and terms of similar meaning in connection with a discussion
of potential future events, circumstances or future operating or
financial performance. These forward-looking statements are based
on management’s current expectations and observations. For a
discussion of factors that could cause results to differ, please
see the Company's filings with the Securities and Exchange
Commission, including, without limitation, the Company’s Annual
Report on form 10-K for the year ended December 31, 2023, and the
Company's reports on Form 10-Q and Form 8- K subsequently filed
with the SEC. We do not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Additional Information and Where to Find It
On April 16, 2024, Genco filed with the SEC a definitive proxy
statement on Schedule 14A (the “Definitive Proxy Statement”),
containing a form of WHITE proxy card, with respect to its
solicitation of proxies for Genco’s 2024 Annual Meeting of
Shareholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE
PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO)
FILED BY GENCO AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC
CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL
CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Investors and
security holders may obtain copies of these documents and other
documents filed with the SEC by Genco free of charge through the
website maintained by the SEC at www.sec.gov. Copies of the
documents filed by Genco are also available free of charge by
accessing Genco’s website at www.gencoshipping.com.
Participants
Genco, its directors and certain of its executive officers will
be participants in the solicitation of proxies from shareholders in
respect of the 2024 Annual Meeting of Shareholders, including John
C. Wobensmith (Chief Executive Officer and President), Peter Allen
(Chief Financial Officer), Joseph Adamo (Chief Accounting Officer),
Jesper Christensen (Chief Commercial Officer), and Genco’s
directors other than Mr. Wobensmith, namely James G. Dolphin,
Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y.
Orsel, and Arthur L. Regan. Investors and security holders may
obtain more detailed information regarding the Company’s directors
and executive officers, including a description of their direct or
indirect interests, by security holdings or otherwise, under the
captions “Management,” “Executive Compensation,” and “Security
Ownership of Certain Beneficial Owners and Management” in Genco’s
Definitive Proxy Statement. To the extent holdings of such
participants in Genco’s securities changed since the amounts
described in the Definitive Proxy Statement, such changes will be
reflected on Initial Statements of Beneficial Ownership on Form 3
or Statements of Change in Ownership on Form 4 filed with the SEC.
These documents are available free of charge as described
above.
MEDIA/INVESTOR CONTACT:
Peter AllenChief Financial OfficerGenco Shipping & Trading
Limited(646) 443-8550
Aaron Palash / Carleigh Roesler / Jenna ShindermanJoele Frank,
Wilkinson Brimmer Katcher(212) 355-4449
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