Genco Shipping (GNK) & Trading announced that its Board of Directors has adopted a limited duration shareholder rights plan. The Rights Plan is effective immediately and has a one-year duration expiring on September 30, 2026. Pursuant to the Rights Plan, the Company will issue one right for each share of common stock outstanding, as of the close of business on October 13, 2025. While the Rights Plan is effective immediately, the rights generally would become exercisable only if an entity, person or group acquires beneficial ownership of 15% or more of the Company’s common stock in a transaction not approved by the Board.
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