Safe Bulkers Issues Notice of Redemption of Series B Preferred Shares
January 19 2018 - 3:10PM
Safe Bulkers, Inc. (“Safe Bulkers”) (NYSE:SB), an international
provider of marine drybulk transportation services, announced today
that it is calling for 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”). There are
currently 379,514 issued and outstanding Series B Preferred Shares.
The Series B Preferred Shares will be redeemed
on February 20, 2018 (the “Redemption Date”) at a redemption price
of $25.00 per Series B Preferred Share plus all accumulated and
unpaid dividends to, but excluding, the Redemption Date (the
“Redemption Price”). From and after the Redemption Date, all
distributions on the Series B Preferred Shares will cease to
accumulate, such Series B Preferred Shares shall no longer be
deemed outstanding, and all rights of the holders of such shares
will terminate, except for the right to receive the Redemption
Price, without interest thereon. As previously announced, a
quarterly cash dividend of $0.50 per share on the Series B
Preferred Shares for the period from October 30, 2017 to January
29, 2018 is payable on January 30, 2018 to shareholders of record
of Series B Preferred Shares as of January 23, 2018.
The notice of redemption specifying the terms,
conditions and procedures for the Redemption (the “Redemption
Notice”) will be mailed to holders of record of Series B Preferred
Shares, and is available by contacting American Stock Transfer
& Trust Company, LLC (“AST”), the transfer and paying agent for
the Series B Preferred Shares, by mail at 6201 15th Avenue
Brooklyn, NY 11219 Attention: Corporate Actions, (877) 248-6417 or
(718) 921-8317. Questions regarding the Redemption of the Series B
Preferred Shares, including the contents of the Redemption Notice,
may be directed to AST.
This press release does not constitute a notice
of redemption under the Statement of Designation governing the
Series B Preferred Shares and is qualified in its entirety by
reference to the Redemption Notice issued by Safe Bulkers.
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 B
preferred stock, Series C preferred stock and Series D preferred
stock are listed on the NYSE, where they trade under the symbols
“SB,” “SBPRB,” “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
Safe Bulkers (NYSE:SB)
Historical Stock Chart
From Apr 2024 to May 2024
Safe Bulkers (NYSE:SB)
Historical Stock Chart
From May 2023 to May 2024