ATHENS, GREECE,
May 21, 2025 - OceanPal Inc. (NASDAQ: OP) (the “Company”), a global shipping
company specializing in the ownership of vessels, today announced that the
Company’s Annual Meeting of Shareholders (the “Meeting”) was duly
held on May 20, 2025, in virtual format only via the Internet.
At the Meeting,
each of the following proposals, which are set forth in more detail in the
Notice of Annual Meeting of Shareholders and the Company’s Proxy
Statement sent to shareholders on or around April 28, 2025, was approved and
adopted:
(1) The election of three Class
I Directors to serve until the 2028 annual meeting of shareholders;
(2) The approval of the
amendment to the Company’s Amended and Restated Articles of Incorporation
authorizing the Board to effect one or more reverse stock splits of the
Company’s issued Common Shares, in the aggregate ratio of not more than
1-for-500, with the exact ratio to be determined by the Board in its
discretion; and
(3) The appointment of Ernst
& Young (Hellas) Certified Auditors Accountants S.A. as the Company’s
independent auditors for the fiscal year ending December 31, 2025.
About the
Company
OceanPal Inc.
is a global provider of shipping transportation services, specializing in the
ownership and operation of dry bulk vessels and product tankers. The Company is
engaged in the seaborne transportation of bulk commodities, including iron ore,
coal, and grain, as well as refined petroleum products. OceanPal’s fleet is
primarily employed on time charter trips with short to medium duration and spot
charters, with a strategic focus on maximizing long-term shareholder value.
Forward
Looking Statements
Matters
discussed in this press release may constitute forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage companies to
provide prospective information about their business. Forward-looking
statements include statements concerning plans, objectives, goals, strategies,
future events or performance, and underlying assumptions and other statements.
The Company
desires to take advantage of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,”
“potential,” “may,” “should,” “expect,” “pending” and similar expressions
identify forward-looking statements.
The
forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, Company management’s examination of historical
operating trends, data contained in the Company’s records and other data
available from third parties. Although the Company believes that these
assumptions were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies that are difficult or
impossible to predict and are beyond the Company’s control, the Company cannot
assure you that it will achieve or accomplish these expectations, beliefs or
projections.
In addition to
these important factors, other important factors that, in the Company’s view,
could cause actual results to differ materially from those discussed in the
forward-looking statements include the strength of world economies and
currencies, general market conditions, including fluctuations in charter rates
and vessel values, changes in demand for dry bulk shipping capacity, changes in
the Company’s operating expenses, including bunker prices, drydocking and
insurance costs, the market for the Company’s vessels, availability of
financing and refinancing, changes in governmental rules and regulations or
actions taken by regulatory authorities, potential liability from pending or
future litigation, general domestic and international political conditions,
including risks associated with the continuing conflict between Russia and
Ukraine and related sanctions, potential disruption of shipping routes due to
accidents or political events, including the escalation of the conflict in the
Middle East, vessel breakdowns and instances of off-hires and other factors.
Please see the Company’s filings with the U.S. Securities and Exchange
Commission for a more complete discussion of these and other risks and
uncertainties. The Company undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking statements,
whether as a result of new information, future events or otherwise.
Download:
