Nicolaos Hadjioannou News

Safe Bulkers, Inc. (NYSE:SB), an international provider of marine drybulk transportation services, has confirmed that its Chief Operating Officer and director, Nicolaos Hadjioannou, has resigned from both positions with the company in order to pursue his own shipping activities. Under his contractual arrangements with the company, Mr. Hadjioannou cannot pursue drybulk vessel business opportunities for the next 12 months, unless first offered to, and refused by, the company. Polys Hajioannou, Chairman of the Board of Directors and Chief Executive Officer of the Company said “Although he will be missed, Nicolaos’ departure to pursue his own business opportunities is a natural progression for him. I definitely agree that now is the right moment for his decision.

Safe Bulkers, Inc. announced  that its public offering of 10,000,000 shares of common stock was priced at $19.00 per share. As of today, the company’s common stock will trade on the New York Stock Exchange under the ticker symbol “SB”. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, such as grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. All of the shares were sold by Vorini Holdings Inc., a selling stockholder controlled by the family of the Company’s Chief Executive Officer Polys Hajioannou and Chief Operating Officer Nicolaos Hadjioannou. Vorini Holdings Inc.