Business
OceanPal Inc. Announces Adjournment of Annual Meeting of Shareholders
ATHENS, Greece, April 01, 2022 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of
About this update from Oceanpal Inc.
[{"type":"text","content":"ATHENS, Greece, April 01, 2022 (GLOBE NEWSWIRE) -- OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping company specializing in the ownership of vessels, today announced that the Annual Meeting of Shareholders of the Company (the “Meeting”) held in virtual format on March 31, 2022 has been adjourned until April 5, 2022 at 9:00 a.m. Eastern Time. The Company adjourned the Meeting for the purpose of allowing additional time for shareholders to vote on Proposal Two, described below and as set forth in the Company’s proxy statement for the Meeting, dated February 24, 2022 (the “Proxy”). The business scheduled for the re-convened Meeting remains the same as set forth in the Proxy. At the Meeting, shareholders of the Company will consider and vote to (i) elect three Class I Directors (Proposal One), (ii) approve one or more amendments to the Company’s amended and restated articles of incorporation to effect one or more reverse stock splits of its common shares, each at a ratio of not less than one-for-two and not more than one-for-10 and in the aggregate at a ratio of not more than one-for-40 (Proposal Two), and (iii) approve the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the Company’s independent auditors for the fiscal year ending December 31, 2022 (Proposal Three). If you have already voted your shares, you do not need to vote again and we thank you for your support. If you have voted against Proposal Two or abstained, we urge you to reconsider your vote, and vote in favor of Proposal Two. The Board believes the proposed reverse stock split is in the best interests of the Company’s shareholders as it enables the Company to reestablish compliance with Nasdaq’s minimum bid price requirement, however there is no guarantee that it will maintain such compliance. All shareholders of record as of February 17, 2022, who have not already done so are encouraged to vote on the proposals. Shareholders who have already voted need not take any further action. The Meeting will be held in a virtual format only via the Internet at www.virtualshareholdermeeting.com/OP2022. About the Company OceanPal Inc. is a global provider of shipping transportation services through its ownership of vessels. The Company’s vessels currently transport a range of dry bulk cargoes, including such commodities as iron ore, coal...