Genco urges shareholders reject Diana proxy fight to replace entire board

Reuters03-30

Genco urges shareholders reject Diana proxy fight to replace entire board

Genco urged shareholders to ignore proxy materials from rival Diana Shipping ahead of Genco 2026 annual meeting.
Board rejected Diana indicative takeover proposal of $23.50 per share, citing inadequate control premium.
Proxy contest framed as vote to replace entire Genco board with Diana nominees, not vote on takeover offer.
Genco said Diana-controlled board could pursue deal below $23.50 per share or shift away from low-leverage dividend strategy.
Letter cited 5-year total shareholder return of 213% for Genco versus 37% for Diana.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Genco Shipping & Trading Limited published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202603300830PRIMZONEFULLFEED9680691) on March 30, 2026, and is solely responsible for the information contained therein.

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