{"success":true,"data":{"pressRelease":{"id":"31297","rtpr_id":"nGNX1cNncm","ticker":"DSX","exchange":"NYSE","all_tickers":["DSX","GNK"],"title":"Diana Shipping Inc. Launches Campaign Website in Connection with Effort to Unlock Immediate Value at Genco Shipping & Trading ","author":"Globe Newswire","published_at":"2026-05-12T11:53:01.135Z","article_body":"Visit www.CashforGenco.com for Details on Genco Board and Management’s\nPattern of Entrenchment and Extensive Governance Failures at the Expense of\nShareholders\n\nProvides Information Regarding Diana’s Highly Qualified Independent Nominees\nand Materials Related to Diana’s Proxy Campaign\n\nDiana Urges Genco Shareholders to Vote the GOLD Universal Proxy Card “FOR”\nDiana's Six Independent Director Nominees at the 2026 Annual Meeting\n\nATHENS, Greece, May 12, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE:\nDSX) (“Diana” or “the Company”), a global shipping company\nspecializing in the ownership and bareboat charter-in of dry bulk vessels that\nowns approximately 14.7% of the outstanding shares of common stock of Genco\nShipping & Trading Limited (NYSE: GNK) (“Genco”), today announced the\nlaunch of www.CashforGenco.com, a campaign website providing Genco\nshareholders with information and resources related to Diana’s effort to\nelect six highly qualified independent director candidates to Genco’s Board\nof Directors (the “Genco Board”) at the Company’s 2026 Annual Meeting of\nShareholders on June 18, 2026.\n\nThe website details Diana’s case for change at Genco, including the Genco\nBoard's six-month refusal to engage on Diana's fully financed, all-cash\nproposal to acquire Genco at $23.50 per share — a 31% premium to Genco's\nundisturbed share price and 1.0x its NAV — and its extensive record of\nentrenchment and governance failures that Diana believes reflects a board\nconsumed with protecting its own roles and compensation at shareholders'\nexpense. It also provides detailed information on Diana's six independent\ndirector nominees, each of whom brings deep and complementary experience\nacross drybulk shipping, finance, M&A and corporate governance, and none of\nwhom are affiliated with Diana.\n\nOn www.CashforGenco.com, shareholders can find instructions for how to vote\nfor independent directors committed to ensuring the Genco Board fulfills its\nfiduciary obligation to evaluate all value-maximizing alternatives on the\nmerits, including Diana's $23.50 per share all-cash offer, tender offer, and\nany other strategic alternative that may emerge. It also contains instructions\nfor how to tender shares pursuant to Diana's tender offer at $23.50 per share\nin cash.\n\nDiana urges all Genco shareholders to vote the GOLD universal proxy card\n“FOR” each of Diana's six independent nominees — Gustave Brun-Lie, Paul\nCornell, Chao Sih Hing Francois, Jens Ismar, Viktoria Poziopoulou and Quentin\nSoanes — and “WITHHOLD” on Genco’s nominees as soon as possible.\n\nDiana encourages all shareholders to review the information regarding their\nhighly qualified nominees and other materials related to its proxy campaign at\nwww.CashforGenco.com.\n\nAbout Diana Shipping Inc.\n\nDiana Shipping Inc. (“Diana”) (NYSE: DSX) is a global provider of shipping\ntransportation services through its ownership and bareboat charter-in of dry\nbulk vessels. Diana’s vessels are employed primarily on short to medium-term\ntime charters and transport a range of dry bulk cargoes, including such\ncommodities as iron ore, coal, grain and other materials along worldwide\nshipping routes.\n\nAbout Star Bulk Carriers Corp.\n\nStar Bulk Carriers Corp. (“Star Bulk”) is a global shipping company\nproviding worldwide seaborne transportation solutions in the dry bulk sector.\nStar Bulk’s vessels transport major bulks, which include iron ore, minerals\nand grain, and minor bulks, which include bauxite, fertilizers and steel\nproducts. Star Bulk was incorporated in the Marshall Islands on December 13,\n2006 and maintains executive offices in Athens, New York, Stamford and\nSingapore.\n\nCautionary Statement Regarding Forward-Looking Statements\n\nMatters discussed in this communication and other statements made by Diana or\nStar Bulk, as applicable, may constitute forward-looking statements. The\nPrivate Securities Litigation Reform Act of 1995 provides safe harbor\nprotections for forward-looking statements in order to encourage companies to\nprovide prospective information about their business. Forward-looking\nstatements include, but are not limited to, statements regarding the intent,\nbeliefs, expectations, objectives, goals, future events, performance or\nstrategies and other statements of Diana, Star Bulk or their respective\nmanagement teams, which are other than statements of historical facts.\n\nDiana and Star Bulk desire to take advantage of the safe harbor provisions of\nthe Private Securities Litigation Reform Act of 1995 and is including this\ncautionary statement in connection with this safe harbor legislation. These\nforward-looking statements relate to, among other things, Diana’s proposal\nto acquire Genco and the anticipated benefits of such a transaction, and\nDiana’s ability to finance such transaction. Forward looking statements can\nbe identified by words such as “believe,” “will,” “anticipate,”\n“intend,” “estimate,” “forecast,” “project,” “plan,”\n“potential,” “may,” “should,” “expect,” “pending” and\nsimilar expressions identify forward-looking statements.\n\nThe forward-looking statements in this press release and in other statements\nmade by Diana or Star Bulk, as applicable, are based upon various assumptions,\nmany of which are based, in turn, upon further assumptions, including without\nlimitation, management’s examination of historical operating trends, data\ncontained in Diana’s or Star Bulk’s records, Genco’s public filings and\ndisclosures and data available from third parties. Although Diana or Star\nBulk, as applicable, believes that these assumptions were reasonable when\nmade, because these assumptions are inherently subject to significant\nuncertainties and contingencies that are difficult or impossible to predict\nand are beyond their control, Diana or Star Bulk, as applicable, cannot assure\nyou that it will achieve or accomplish these expectations, beliefs or\nprojections.\n\nThe forward-looking statements in this communication are based on current\nexpectations, assumptions, and estimates, and are subject to numerous risks\nand uncertainties. These include, without limitation, risks relating to: (i)\nthe possibility that the proposed transaction may not proceed; (ii) the\nability to obtain regulatory or shareholder approvals, if required; (iii) the\nrisk that Genco’s Board of Directors or management may continue to oppose\nthe proposal or not respond to further attempted engagement by Diana; (iv)\nfailure to realize anticipated benefits of the transaction; (v) changes in the\nfinancial or operating performance of Diana, Star Bulk or Genco; (vi) the\npossibility that shareholders of Genco will not elect to tender their shares\nof common stock of Genco in connection with the Offer (as defined below) or\nthat the conditions to consummation of the Offer are not satisfied; and (vii)\ngeneral economic, market, and industry conditions. These and other risks are\ndescribed in documents filed by Diana with, or furnished by Diana to, the U.S.\nSecurities and Exchange Commission (“SEC”), including its Annual Report on\nForm 20-F for the fiscal year ended December 31, 2025, and its other\nsubsequent documents filed with, or furnished to, the SEC, and are described\nin documents filed by Star Bulk with, or furnished by Star Bulk to, the SEC,\nincluding its Annual Report on Form 20-F for the fiscal year ended December\n31, 2025, and its other subsequent documents filed with, or furnished to, the\nSEC. Neither Diana nor Star Bulk undertake any obligation to revise or update\nany forward-looking statement, or to make any other forward-looking\nstatements, whether as a result of new information, future events or\notherwise, except to the extent required by law.\n\nImportant Additional Information and Where to Find It\n\nDiana and certain other Participants (as defined below) have filed a\ndefinitive proxy statement and accompanying GOLD universal proxy card with the\nSEC to be used to solicit proxies for, among other matters, the election of\nDiana’s director nominees to the board of directors of Genco at Genco’s\n2026 Annual Meeting, the passage of Diana’s proposal to repeal, at Genco’s\n2026 Annual Meeting, by-laws of Genco not publicly disclosed by Genco on or\nprior to August 28, 2025 and a proposal that the board of directors of Genco\nconduct a process to explore strategic alternatives (such definitive proxy\nstatement and the accompanying universal GOLD proxy card are available here\n(https://www.globenewswire.com/Tracker?data=MrX4_3sGPDLO5zyOKQ-1kUK125xm4cKezc7mQZe06uN6H0BI0q-mDyliGopD3_aEavqrBsLCJeb954WFJAieS7S0qrq9ep6b1XFmfGEadMXZPLCw70Nsv58vy1TBDt5BtI6qXUDYFgHaiYA3vu-lEsxLFBDjKsKI20-hauPEfVY=)).\n\nShareholders of Genco are strongly advised to read the Participants’ proxy\nstatement and other proxy materials, including the accompanying GOLD proxy\ncard, as they become available because they will contain important\ninformation. The Participants’ definitive proxy statement, and other proxy\nmaterials when filed, are available at no charge on the SEC’s website at\nwww.sec.gov.\n\nThe definitive proxy statement and other relevant documents filed by Genco\nwith the SEC are also available, without charge, by directing a request to\nDiana’s proxy solicitor, Okapi Partners LLC, at its toll-free number (855)\n305-0857 or via email at info@okapipartners.com.\n\nCertain Information Regarding Participants in the Solicitation\n\nThe participants in the proxy solicitation (the “Participants”) are Diana;\nSemiramis Paliou, Director and Chief Executive Officer of Diana; Simeon\nPalios, Director and Chairman of Diana; Ioannis G. Zafirakis, Director and\nPresident of Diana; Maria Dede, co-Chief Financial Officer and Treasurer of\nDiana; Margarita Veniou, Chief Corporate Development, Governance &\nCommunications Officer and Secretary of Diana; Evangelos Sfakiotakis, Chief\nTechnical Investment Officer of Diana; Maria-Christina Tsemani, Chief People\nand Culture Officer of Diana; Anastasios Margaronis, Director of Diana;\nKyriacos Riris, Director of Diana; Apostolos Kontoyannis, Director of Diana;\nEleftherios Papatrifon, Director of Diana; Simon Frank Peter Morecroft,\nDirector of Diana; and Jane Sih Ho Chao, Director of Diana; Diana’s\nnominees, Jens Ismar, Gustave Brun-Lie, Quentin Soanes, Paul Cornell, Chao Sih\nHing Francois, and Vicky Poziopoulou; Star Bulk Carriers Corp. (“Star\nBulk”); Petros Pappas, Director and Chief Executive Officer of Star Bulk;\nand Hamish Norton, President of Star Bulk.\n\nAs of the date hereof, Diana is the beneficial owner of 6,413,151,\nrepresenting approximately 14.7% of the outstanding shares of common stock of\nGenco. As of the date hereof, none of Semiramis Paliou, Simeon Palios, Ioannis\nG. Zafirakis, Maria Dede, Margarita Veniou, Evangelos Sfakiotakis,\nMaria-Christina Tsemani, Anastasios Margaronis, Kyriacos Riris, Apostolos\nKontoyannis, Eleftherios Papatrifon, Simon Frank Peter Morecroft, Jane Sih Ho\nChao, Jens Ismar, Gustave Brun-Lie, Quentin Soanes, Paul Cornell, Chao Sih\nHing Francois, Vicky Poziopoulou, Star Bulk, Petros Pappas, or Hamish Norton\nbeneficially owns any Genco common stock. On March 6, 2026, Diana submitted a\nrevised proposal to acquire all of the outstanding shares of Genco common\nstock it did not own for $23.50 per share in cash.\n\nInformation Regarding the Offer\n\nOn May 4, 2026, Diana commenced a tender offer (the “Offer”), through its\nwholly-owned subsidiary 4 Dragon Merger Sub Inc., to purchase all outstanding\nshares of Genco common stock at $23.50 per share in cash. The Offer is\nscheduled to expire at 5:00 p.m., New York City time, on June 2, 2026, unless\nextended.\n\nThe Offer is conditioned upon, among other things: (i) Genco entering into a\ndefinitive merger agreement with Diana substantially in the form of the merger\nagreement included with the Offer documents; (ii) Genco shareholders validly\ntendering a majority of Genco's outstanding shares on a fully diluted basis;\n(iii) the termination or inapplicability of Genco's shareholder rights plan;\n(iv) the Genco Board's approval of the transaction under certain affiliate\ntransaction provisions in Genco’s charter and (v) other customary\nconditions. Satisfaction of the merger agreement condition, the shareholder\nrights plan condition and the affiliate transaction condition is solely within\nthe control of Genco and the members of the Genco Board.\n\nIf the Offer is successfully completed, Diana intends to consummate a\nsecond-step merger as promptly as practicable, in which any remaining Genco\nshareholders who did not tender their shares in the Offer would receive the\nsame $23.50 per share in cash that was paid in the Offer. As a result, if the\nOffer is completed and the second-step merger is consummated, all Genco\nshareholders — whether or not they tender their shares — would receive\n$23.50 per share in cash. Importantly, shareholders who tender in the Offer\nmay receive their cash sooner than those whose shares are acquired in the\nsecond-step merger.\n\nThe Offer to Purchase and related Letter of Transmittal are being mailed to\nGenco shareholders and will be filed with the U.S. Securities and Exchange\nCommission. Copies of these materials will be available at no charge on the\nSEC's website at www.sec.gov.\n\nQuestions and requests for assistance regarding the Offer may be directed to\nOkapi Partners LLC, the information agent for the Offer, toll-free at (855)\n305-0857 or by email at info@okapipartners.com.\n\nCorporate Contact:\nMargarita Veniou\nChief Corporate Development, Governance &\nCommunications Officer and Board Secretary\nTelephone: + 30-210-9470-100\nEmail: mveniou@dianashippinginc.com\nWebsite: www.dianashippinginc.com\nX: @Dianaship\n\nInvestor Relations Contact:\nNicolas Bornozis / Daniela Guerrero\nCapital Link, Inc.\n230 Park Avenue, Suite 1540\nNew York, N.Y. 10169\nTel.: (212) 661-7566\nEmail: diana@capitallink.com\n\nBruce Goldfarb / Chuck Garske / Lisa Patel\nOkapi Partners\n(855) 305-0857\ninfo@okapipartners.com\n\nMedia Contact:\nMark Semer / Grace Cartwright\nGasthalter & Co.\nTel: (212) 257-4170\nDianaShipping@gasthalter.com\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX1cNncm","title":"Diana Shipping Inc. Launches Campaign Website in Connection with Effort to Unlock Immediate Value at Genco Shipping & Trading ","author":"Globe Newswire","ticker":"DSX","created":"2026-05-12T11:53:01.135Z","tickers":["DSX","GNK"],"exchange":"NYSE","article_body":"Visit www.CashforGenco.com for Details on Genco Board and Management’s\nPattern of Entrenchment and Extensive Governance Failures at the Expense of\nShareholders\n\nProvides Information Regarding Diana’s Highly Qualified Independent Nominees\nand Materials Related to Diana’s Proxy Campaign\n\nDiana Urges Genco Shareholders to Vote the GOLD Universal Proxy Card “FOR”\nDiana's Six Independent Director Nominees at the 2026 Annual Meeting\n\nATHENS, Greece, May 12, 2026 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE:\nDSX) (“Diana” or “the Company”), a global shipping company\nspecializing in the ownership and bareboat charter-in of dry bulk vessels that\nowns approximately 14.7% of the outstanding shares of common stock of Genco\nShipping & Trading Limited (NYSE: GNK) (“Genco”), today announced the\nlaunch of www.CashforGenco.com, a campaign website providing Genco\nshareholders with information and resources related to Diana’s effort to\nelect six highly qualified independent director candidates to Genco’s Board\nof Directors (the “Genco Board”) at the Company’s 2026 Annual Meeting of\nShareholders on June 18, 2026.\n\nThe website details Diana’s case for change at Genco, including the Genco\nBoard's six-month refusal to engage on Diana's fully financed, all-cash\nproposal to acquire Genco at $23.50 per share — a 31% premium to Genco's\nundisturbed share price and 1.0x its NAV — and its extensive record of\nentrenchment and governance failures that Diana believes reflects a board\nconsumed with protecting its own roles and compensation at shareholders'\nexpense. It also provides detailed information on Diana's six independent\ndirector nominees, each of whom brings deep and complementary experience\nacross drybulk shipping, finance, M&A and corporate governance, and none of\nwhom are affiliated with Diana.\n\nOn www.CashforGenco.com, shareholders can find instructions for how to vote\nfor independent directors committed to ensuring the Genco Board fulfills its\nfiduciary obligation to evaluate all value-maximizing alternatives on the\nmerits, including Diana's $23.50 per share all-cash offer, tender offer, and\nany other strategic alternative that may emerge. It also contains instructions\nfor how to tender shares pursuant to Diana's tender offer at $23.50 per share\nin cash.\n\nDiana urges all Genco shareholders to vote the GOLD universal proxy card\n“FOR” each of Diana's six independent nominees — Gustave Brun-Lie, Paul\nCornell, Chao Sih Hing Francois, Jens Ismar, Viktoria Poziopoulou and Quentin\nSoanes — and “WITHHOLD” on Genco’s nominees as soon as possible.\n\nDiana encourages all shareholders to review the information regarding their\nhighly qualified nominees and other materials related to its proxy campaign at\nwww.CashforGenco.com.\n\nAbout Diana Shipping Inc.\n\nDiana Shipping Inc. (“Diana”) (NYSE: DSX) is a global provider of shipping\ntransportation services through its ownership and bareboat charter-in of dry\nbulk vessels. Diana’s vessels are employed primarily on short to medium-term\ntime charters and transport a range of dry bulk cargoes, including such\ncommodities as iron ore, coal, grain and other materials along worldwide\nshipping routes.\n\nAbout Star Bulk Carriers Corp.\n\nStar Bulk Carriers Corp. (“Star Bulk”) is a global shipping company\nproviding worldwide seaborne transportation solutions in the dry bulk sector.\nStar Bulk’s vessels transport major bulks, which include iron ore, minerals\nand grain, and minor bulks, which include bauxite, fertilizers and steel\nproducts. Star Bulk was incorporated in the Marshall Islands on December 13,\n2006 and maintains executive offices in Athens, New York, Stamford and\nSingapore.\n\nCautionary Statement Regarding Forward-Looking Statements\n\nMatters discussed in this communication and other statements made by Diana or\nStar Bulk, as applicable, may constitute forward-looking statements. The\nPrivate Securities Litigation Reform Act of 1995 provides safe harbor\nprotections for forward-looking statements in order to encourage companies to\nprovide prospective information about their business. Forward-looking\nstatements include, but are not limited to, statements regarding the intent,\nbeliefs, expectations, objectives, goals, future events, performance or\nstrategies and other statements of Diana, Star Bulk or their respective\nmanagement teams, which are other than statements of historical facts.\n\nDiana and Star Bulk desire to take advantage of the safe harbor provisions of\nthe Private Securities Litigation Reform Act of 1995 and is including this\ncautionary statement in connection with this safe harbor legislation. These\nforward-looking statements relate to, among other things, Diana’s proposal\nto acquire Genco and the anticipated benefits of such a transaction, and\nDiana’s ability to finance such transaction. Forward looking statements can\nbe identified by words such as “believe,” “will,” “anticipate,”\n“intend,” “estimate,” “forecast,” “project,” “plan,”\n“potential,” “may,” “should,” “expect,” “pending” and\nsimilar expressions identify forward-looking statements.\n\nThe forward-looking statements in this press release and in other statements\nmade by Diana or Star Bulk, as applicable, are based upon various assumptions,\nmany of which are based, in turn, upon further assumptions, including without\nlimitation, management’s examination of historical operating trends, data\ncontained in Diana’s or Star Bulk’s records, Genco’s public filings and\ndisclosures and data available from third parties. Although Diana or Star\nBulk, as applicable, believes that these assumptions were reasonable when\nmade, because these assumptions are inherently subject to significant\nuncertainties and contingencies that are difficult or impossible to predict\nand are beyond their control, Diana or Star Bulk, as applicable, cannot assure\nyou that it will achieve or accomplish these expectations, beliefs or\nprojections.\n\nThe forward-looking statements in this communication are based on current\nexpectations, assumptions, and estimates, and are subject to numerous risks\nand uncertainties. These include, without limitation, risks relating to: (i)\nthe possibility that the proposed transaction may not proceed; (ii) the\nability to obtain regulatory or shareholder approvals, if required; (iii) the\nrisk that Genco’s Board of Directors or management may continue to oppose\nthe proposal or not respond to further attempted engagement by Diana; (iv)\nfailure to realize anticipated benefits of the transaction; (v) changes in the\nfinancial or operating performance of Diana, Star Bulk or Genco; (vi) the\npossibility that shareholders of Genco will not elect to tender their shares\nof common stock of Genco in connection with the Offer (as defined below) or\nthat the conditions to consummation of the Offer are not satisfied; and (vii)\ngeneral economic, market, and industry conditions. These and other risks are\ndescribed in documents filed by Diana with, or furnished by Diana to, the U.S.\nSecurities and Exchange Commission (“SEC”), including its Annual Report on\nForm 20-F for the fiscal year ended December 31, 2025, and its other\nsubsequent documents filed with, or furnished to, the SEC, and are described\nin documents filed by Star Bulk with, or furnished by Star Bulk to, the SEC,\nincluding its Annual Report on Form 20-F for the fiscal year ended December\n31, 2025, and its other subsequent documents filed with, or furnished to, the\nSEC. Neither Diana nor Star Bulk undertake any obligation to revise or update\nany forward-looking statement, or to make any other forward-looking\nstatements, whether as a result of new information, future events or\notherwise, except to the extent required by law.\n\nImportant Additional Information and Where to Find It\n\nDiana and certain other Participants (as defined below) have filed a\ndefinitive proxy statement and accompanying GOLD universal proxy card with the\nSEC to be used to solicit proxies for, among other matters, the election of\nDiana’s director nominees to the board of directors of Genco at Genco’s\n2026 Annual Meeting, the passage of Diana’s proposal to repeal, at Genco’s\n2026 Annual Meeting, by-laws of Genco not publicly disclosed by Genco on or\nprior to August 28, 2025 and a proposal that the board of directors of Genco\nconduct a process to explore strategic alternatives (such definitive proxy\nstatement and the accompanying universal GOLD proxy card are available here\n(https://www.globenewswire.com/Tracker?data=MrX4_3sGPDLO5zyOKQ-1kUK125xm4cKezc7mQZe06uN6H0BI0q-mDyliGopD3_aEavqrBsLCJeb954WFJAieS7S0qrq9ep6b1XFmfGEadMXZPLCw70Nsv58vy1TBDt5BtI6qXUDYFgHaiYA3vu-lEsxLFBDjKsKI20-hauPEfVY=)).\n\nShareholders of Genco are strongly advised to read the Participants’ proxy\nstatement and other proxy materials, including the accompanying GOLD proxy\ncard, as they become available because they will contain important\ninformation. The Participants’ definitive proxy statement, and other proxy\nmaterials when filed, are available at no charge on the SEC’s website at\nwww.sec.gov.\n\nThe definitive proxy statement and other relevant documents filed by Genco\nwith the SEC are also available, without charge, by directing a request to\nDiana’s proxy solicitor, Okapi Partners LLC, at its toll-free number (855)\n305-0857 or via email at info@okapipartners.com.\n\nCertain Information Regarding Participants in the Solicitation\n\nThe participants in the proxy solicitation (the “Participants”) are Diana;\nSemiramis Paliou, Director and Chief Executive Officer of Diana; Simeon\nPalios, Director and Chairman of Diana; Ioannis G. Zafirakis, Director and\nPresident of Diana; Maria Dede, co-Chief Financial Officer and Treasurer of\nDiana; Margarita Veniou, Chief Corporate Development, Governance &\nCommunications Officer and Secretary of Diana; Evangelos Sfakiotakis, Chief\nTechnical Investment Officer of Diana; Maria-Christina Tsemani, Chief People\nand Culture Officer of Diana; Anastasios Margaronis, Director of Diana;\nKyriacos Riris, Director of Diana; Apostolos Kontoyannis, Director of Diana;\nEleftherios Papatrifon, Director of Diana; Simon Frank Peter Morecroft,\nDirector of Diana; and Jane Sih Ho Chao, Director of Diana; Diana’s\nnominees, Jens Ismar, Gustave Brun-Lie, Quentin Soanes, Paul Cornell, Chao Sih\nHing Francois, and Vicky Poziopoulou; Star Bulk Carriers Corp. (“Star\nBulk”); Petros Pappas, Director and Chief Executive Officer of Star Bulk;\nand Hamish Norton, President of Star Bulk.\n\nAs of the date hereof, Diana is the beneficial owner of 6,413,151,\nrepresenting approximately 14.7% of the outstanding shares of common stock of\nGenco. As of the date hereof, none of Semiramis Paliou, Simeon Palios, Ioannis\nG. Zafirakis, Maria Dede, Margarita Veniou, Evangelos Sfakiotakis,\nMaria-Christina Tsemani, Anastasios Margaronis, Kyriacos Riris, Apostolos\nKontoyannis, Eleftherios Papatrifon, Simon Frank Peter Morecroft, Jane Sih Ho\nChao, Jens Ismar, Gustave Brun-Lie, Quentin Soanes, Paul Cornell, Chao Sih\nHing Francois, Vicky Poziopoulou, Star Bulk, Petros Pappas, or Hamish Norton\nbeneficially owns any Genco common stock. On March 6, 2026, Diana submitted a\nrevised proposal to acquire all of the outstanding shares of Genco common\nstock it did not own for $23.50 per share in cash.\n\nInformation Regarding the Offer\n\nOn May 4, 2026, Diana commenced a tender offer (the “Offer”), through its\nwholly-owned subsidiary 4 Dragon Merger Sub Inc., to purchase all outstanding\nshares of Genco common stock at $23.50 per share in cash. The Offer is\nscheduled to expire at 5:00 p.m., New York City time, on June 2, 2026, unless\nextended.\n\nThe Offer is conditioned upon, among other things: (i) Genco entering into a\ndefinitive merger agreement with Diana substantially in the form of the merger\nagreement included with the Offer documents; (ii) Genco shareholders validly\ntendering a majority of Genco's outstanding shares on a fully diluted basis;\n(iii) the termination or inapplicability of Genco's shareholder rights plan;\n(iv) the Genco Board's approval of the transaction under certain affiliate\ntransaction provisions in Genco’s charter and (v) other customary\nconditions. Satisfaction of the merger agreement condition, the shareholder\nrights plan condition and the affiliate transaction condition is solely within\nthe control of Genco and the members of the Genco Board.\n\nIf the Offer is successfully completed, Diana intends to consummate a\nsecond-step merger as promptly as practicable, in which any remaining Genco\nshareholders who did not tender their shares in the Offer would receive the\nsame $23.50 per share in cash that was paid in the Offer. As a result, if the\nOffer is completed and the second-step merger is consummated, all Genco\nshareholders — whether or not they tender their shares — would receive\n$23.50 per share in cash. Importantly, shareholders who tender in the Offer\nmay receive their cash sooner than those whose shares are acquired in the\nsecond-step merger.\n\nThe Offer to Purchase and related Letter of Transmittal are being mailed to\nGenco shareholders and will be filed with the U.S. Securities and Exchange\nCommission. Copies of these materials will be available at no charge on the\nSEC's website at www.sec.gov.\n\nQuestions and requests for assistance regarding the Offer may be directed to\nOkapi Partners LLC, the information agent for the Offer, toll-free at (855)\n305-0857 or by email at info@okapipartners.com.\n\nCorporate Contact:\nMargarita Veniou\nChief Corporate Development, Governance &\nCommunications Officer and Board Secretary\nTelephone: + 30-210-9470-100\nEmail: mveniou@dianashippinginc.com\nWebsite: www.dianashippinginc.com\nX: @Dianaship\n\nInvestor Relations Contact:\nNicolas Bornozis / Daniela Guerrero\nCapital Link, Inc.\n230 Park Avenue, Suite 1540\nNew York, N.Y. 10169\nTel.: (212) 661-7566\nEmail: diana@capitallink.com\n\nBruce Goldfarb / Chuck Garske / Lisa Patel\nOkapi Partners\n(855) 305-0857\ninfo@okapipartners.com\n\nMedia Contact:\nMark Semer / Grace Cartwright\nGasthalter & Co.\nTel: (212) 257-4170\nDianaShipping@gasthalter.com\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-12T11:53:01.200728971Z","server_sent_at_ms":1778586781200},"received_at":"2026-05-12T11:53:01.354Z","source_url":null},"analysis":null,"durationMs":null,"modelName":null}}