Brief: Performance Shipping Inc. Announces Agreement To Acquire An Aframax Tanker And Us$11.0 Million Investment By Its Chairman

Performance Shipping

20/11/2019 14:48

Performance Shipping Inc  DCIX.O :
    * PERFORMANCE SHIPPING INC. ANNOUNCES AGREEMENT TO ACQUIRE
AN
AFRAMAX TANKER AND US$11.0 MILLION INVESTMENT BY ITS CHAIRMAN
    * PERFORMANCE SHIPPING INC - TO PURCHASE ONE 2007 BUILT
AFRAMAX
TANKER VESSEL FROM AN UNAFFILIATED THIRD PARTY SELLER FOR $26.0
MILLION
    * PERFORMANCE SHIPPING - BALANCE OF PURCHASE PRICE PAYABLE
UNDER
CONTRACT IS EXPECTED TO BE FUNDED THROUGH CASH ON HAND AND/OR
BANK FINANCING
    * PERFORMANCE SHIPPING - TRANSACTION WAS APPROVED BY A
MAJORITY OF
DISINTERESTED MEMBERS OF BOARD OF DIRECTORS OF CO
    * PERFORMANCE SHIPPING - US$11.0 MILLION PURCHASE PRICE OF
ENTITY
WILL BE PAID IN COMMON SHARES OF CO AT A PER SHARE PRICE OF
US$0.9027
    * PERFORMANCE SHIPPING - AFRAMAX TANKER VESSEL IS EXPECTED
TO BE
DELIVERED AT LATEST BY JANUARY 31, 2020

Source text for Eikon:  ID:nGNX2GCrq9 
Further company coverage:  DCIX.O