Diana Shipping calls on Genco to set annual meeting date

Diana Shipping (DSX), which owns 14.8% of Genco Shipping’s (GNK) outstanding shares, called on the Genco board to announce the date of its 2026 annual meting. Diana said in a statement, “Today, Genco filed its preliminary proxy statement – yet still has not announced an Annual Meeting date or set a record date. In fact, Genco has reserved, and communicated to brokers, three separate potential record dates for the Annual Meeting – April 4, April 28 and May 18, 2026 – but has not set one. In addition to confusing brokers and potential voters, reserving multiple record dates without setting one, is an attempt by the Genco Board to manipulate the proxy machinery. Diana intends to respond to the numerous inaccurate and misleading statements contained in Genco’s preliminary proxy statement in due course. By not setting an Annual Meeting date, the Genco Board is entrenching itself at a time when it is important for shareholders to have a voice in the future of their company, including the opportunity to vote on Diana’s highly qualified nominees for election to the Genco Board of Directors. In addition, Genco’s proxy statement intentionally does not disclose the amount of shareholder money it has spent on denying shareholders the opportunity to realize the value of Diana’s proposal to acquire Genco.”