TEN Ltd. to Redeem all of its 8.75% Series D Cumulative Redeemable Perpetual Preferred Shares
30 Mai 2023 - 1:45PM
Tsakos Energy Navigation Ltd. (“TEN” or the “Company”) (NYSE: TNP),
a leading diversified crude, product and LNG tanker operator, today
announced that it has called for redemption all 3,517,061 of its
outstanding 8.75% Series D Cumulative Redeemable Perpetual
Preferred Shares (NYSE: TNP-PD) (CUSIP: G9108L140) (the “Series D
Preferred Shares”).
The redemption of the Series D Preferred Shares
will occur on July 7, 2023 (the “Redemption Date”). The Series D
Preferred Shares will be redeemed for $25.00 per share,
plus all accrued and unpaid dividends to, but not including, the
Redemption Date in an amount equal to $0.243056 per
share, for a total payment of $25.243056 per share, which
will be payable in cash on the Redemption Date.
After the Redemption Date, Series D Preferred
Shares will no longer be deemed outstanding and all the rights of
the holders of Series D Preferred Stock will terminate, except the
right to receive the redemption price. In addition, because all the
issued and outstanding shares of Series D Preferred Shares are
being redeemed, the Series D Preferred Shares will no longer trade
on the New York Stock Exchange after the Redemption Date.
The Series D Preferred Shares currently trade on the NYSE under the
symbol TNP-PD.
All shares of Series D Preferred Shares are held
in book-entry form through the Depository Trust Company (“DTC”).
The Series D Preferred Shares will be redeemed in accordance with
the applicable procedures of DTC. Payment to DTC for the shares of
Series D Preferred Shares will be made by Computershare Trust
Company, LLC, as redemption agent (the “Redemption Agent”).
The address for the Redemption Agent is as
follows: Computershare Inc. 150 Royall Street Canton, MA 02021.
ABOUT TSAKOS ENERGY
NAVIGATIONTEN, founded in 1993 and celebrating this year
30 years as a public company, is one of the first and most
established public shipping companies in the world. TEN’s
diversified energy fleet currently consists of 67 double-hull
vessels including four dual-fuel LNG powered Aframaxes, two
scrubber-fitted Suezmaxes and up to three DP2 Shuttle tankers under
construction constituting a mix of crude tankers, product tankers
and LNG carriers, totaling 8.4 million dwt.
FORWARD-LOOKING
STATEMENTSExcept for the historical information contained
herein, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
predicted by such forward-looking statements. TEN undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or
otherwise.
For further information, please contact:
Company
Tsakos Energy Navigation Ltd.George Saroglou
COO+30210 94 07 710gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc. Nicolas BornozisMarkella Kara
+212 661 7566ten@capitallink.com
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