Performance Shipping Inc. Announces the Date for its 2021 Annual General Meeting of Shareholders and Adoption of Amended and ...
December 30 2020 - 5:30AM
Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global
shipping company specializing in the ownership of tankers,
announced today that the Company will hold its 2021 Annual General
Meeting of Shareholders (the “Meeting”) on February 25, 2021 in
virtual format. Shareholders and their proxy representatives will
not be able to attend the Meeting physically. Additional details
confirming how shares may be voted before or during the Meeting, as
well as the time of the virtual Meeting and how to access it as a
shareholder, will be included in the Company’s proxy statement to
be separately provided to shareholders. Whether or not shareholders
plan to attend the Meeting virtually, shareholders of record of the
Company’s common shares are encouraged to vote and submit their
proxy in advance of the Meeting. The Board of Directors (the
“Board”) has set a record date of January 6, 2021.
The Company also announced today that the Board,
on the recommendation of its Compensation Committee consisting
solely of independent directors, has adopted an Amended and
Restated Equity Incentive Plan (the “Plan”) that amends and
restates that Company’s existing 2015 Equity Incentive Plan adopted
in May of 2015. As amended, the total number of common shares with
respect to which awards may be made under the Plan was increased by
500,000 shares. The amended plan will expire 10 years from the date
of adoption.
About the Company
Performance Shipping Inc. is a global provider
of shipping transportation services through its ownership of
Aframax tankers. The Company's current fleet is employed primarily
on short to medium term charters with leading energy companies and
traders.
Cautionary Statement Regarding
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words "believe,"
"anticipate," "intends," "estimate," "forecast," "project," "plan,"
"potential," "may," "should," "expect," "pending" and similar
expressions identify forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand for our vessels, changes in
our operating expenses, including bunker prices, dry-docking and
insurance costs, the market for our vessels, availability of
financing and refinancing, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential
liability from pending or future litigation, general domestic and
international political conditions, the length and severity of the
novel coronavirus (COVID-19) pandemic and its impact on the demand
for seaborne transportation of petroleum and other types of
products, potential disruption of shipping routes due to accidents
or political events, vessel breakdowns and instances of off-hires
and other factors. Please see our filings with the U.S. Securities
and Exchange Commission for a more complete discussion of these and
other risks and uncertainties.
Corporate Contact:
Andreas Michalopoulos
Chief Executive Officer, Director and Secretary
Telephone: +30-216-600-2400
Email: amichalopoulos@pshipping.com
Website: www.pshipping.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
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