Genco Shipping & Trading Limited entered into the Second Amendment to its Shareholder Rights Agreement on May 1, 2026, rescinding the prior First Amendment to restore the beneficial ownership threshold to 15% for triggering rights.
Key takeaways
Company entered Second Amendment to Shareholder Rights Agreement on May 1, 2026, with Computershare Inc.
Second Amendment rescinds First Amendment dated November 10, 2025, restoring original Rights Agreement terms from October 1, 2025.
Restores 15% beneficial ownership threshold for all shareholders to become an Acquiring Person and trigger the Rights.
Board determination based on shareholder feedback to raise threshold in best interests of Company and shareholders.
Rights Agreement designed to protect against control without control premium while allowing fair offers.
Exhibit 4.1 contains full text of Second Amendment, incorporated by reference.