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Diana Shipping Inc. Calls on Genco Shipping & Trading to Stop Delaying 2026 Annual Meeting

  • Diana Shipping Inc. filed a preliminary proxy statement today, April 24, 2026, while Genco Shipping & Trading Limited has not announced its 2026 Annual Meeting date or a definitive record date.
  • Genco has reserved three potential record dates for the Annual Meeting (April 4, April 28, & May 18, 2026) without confirming any, a move Diana claims manipulates the proxy machinery.
  • Diana accuses the Genco Board of entrenchment by delaying the meeting to prevent shareholders from voting on Diana's nominees & strategic alternatives.
  • Diana has offered an all-cash acquisition of Genco at $23.50 per share, submitted as a revised proposal on March 6, 2026.
  • Diana alleges Genco engaged in a misinformation campaign & adopted a poison pill with a 10% trigger while refusing to meet or call regarding the acquisition.
  • Genco's proxy statement allegedly omits the amount of shareholder funds spent on opposing Diana's proposal & does not disclose the full cost of its retention plan.
  • As of the filing date, Diana beneficially owns approximately 14.8% of Genco's outstanding common stock, representing 6,413,151 shares.
  • Diana intends to respond to misleading statements in Genco's proxy statement & calls on the Genco Board to immediately disclose the Annual Meeting & record dates.
  • Participants in the proxy solicitation include Diana's management, directors, & 11 nominees for the Genco Board.