Diana Shipping Buys Back its Sold Shares
Athens-based shipowner Diana Shipping announced the commencement of a tender offer to purchase up to 4,166,666 shares, or about 3.86%, of its outstanding common stock using funds available from cash and cash equivalents at a price of US$3.60 per share.The global shipping company specializing in the ownership of dry bulk vessels informed in a stock exchange annoucement that the tender offer will expire at the end of the day, 5:00 P.M., Eastern Time, on December 20, 2018, unless extended or withdrawn.The Board of Directors determined that it is in the Company's best interest to repurchase shares at this time given Diana Shipping Inc.'s cash position and stock price.
CP Ships Extends Selling Program
CP Ships Limited today announced an extension until May 7, 2003 at 5:00 pm of its selling program for holders of fewer than 100 shares. The sale of shares will continue to be executed through the Toronto Stock Exchange. Originally scheduled to expire on February 7, 2003, the program, which is voluntary, allows shareholders owning 99 or fewer shares in CP Ships as of the November 7, 2002 record date to sell all of their shares without incurring brokerage commissions. Registered and beneficial shareholders are eligible to participate. The extension is being made with the approval of the Toronto Stock Exchange. CP Ships has retained Computershare Trust Company of Canada to manage the program and to handle share transactions and payments.
