Safe Bulkers Announces Completion of Redemption
of Series B Preferred Shares
MONACO,
Feb. 20, 2018 (GLOBE NEWSWIRE) -- Safe Bulkers,
Inc. (“Safe Bulkers”) (NYSE:SB), an
international provider of marine drybulk
transportation services, announced today the
completion of its previously announced
redemption (the “Redemption”) of all outstanding
8.00% Series B Cumulative Redeemable Perpetual
Preferred Shares, par value $0.01 per share,
liquidation preference $25.00 per share (the
“Series B Preferred Shares”). The Series B
Preferred Shares were redeemed at a redemption
price of $25.00 per share, plus all accumulated
and unpaid dividends to, but excluding the date
of redemption (the “Redemption Price”). As a
result of the completion of the Redemption,
Series B Preferred Shares are no longer deemed
outstanding, all rights of the holders of such
Series B Preferred Shares have terminated except
for the right to receive the Redemption Price,
without interest thereon and all distributions
on the Series B Preferred Shares have ceased to
accumulate. Furthermore, the Series B
Preferred Shares will be delisted from trading
on the New York Stock Exchange.
About Safe Bulkers, Inc.
Safe
Bulkers is an international provider of marine
drybulk transportation services, transporting
bulk cargoes, particularly coal, grain and iron
ore, along worldwide shipping routes for some of
the world’s largest users of marine drybulk
transportation services. Safe Bulkers common
stock, Series C preferred stock and Series D
preferred stock are listed on the NYSE, where
they trade under the symbols “SB,” “SBPRC” and
“SBPRD,” respectively.
Forward-Looking Statements
This
press release contains forward-looking
statements (as defined in Section 27A of the
Securities Act of 1933, as amended, and in the
Section 21E of the Securities Exchange Act of
1934, as amended) concerning future events, Safe
Bulkers’ growth strategy and measures to
implement such strategy, including expected
vessel acquisitions and entering into further
time charters. Words such as “expects,”
“intends,” “plans,” “believes,” “anticipates,”
“hopes,” “estimates” and variations of such
words and similar expressions are intended to
identify forward-looking statements. Although
Safe Bulkers believes that the expectations
reflected in such forward-looking statements are
reasonable, no assurance can be given that such
expectations will prove to have been correct.
These statements involve known and unknown risks
and are based upon a number of assumptions and
estimates which are inherently subject to
significant uncertainties and contingencies,
many of which are beyond the control of Safe
Bulkers. Actual results may differ materially
from those expressed or implied by such
forward-looking statements. Factors that could
cause actual results to differ materially
include, but are not limited to, changes in the
demand for drybulk vessels, competitive factors
in the market in which Safe Bulkers operates,
risks associated with operations outside the
United States and other factors listed from time
to time in Safe Bulkers’ filings with the
Securities and Exchange Commission. Safe Bulkers
expressly disclaims any obligations or
undertaking to release any updates or revisions
to any forward-looking statements contained
herein to reflect any change in its expectations
with respect thereto or any change in events,
conditions or circumstances on which any
statement is based.