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TEN, LTD ANNOUNCES REDEMPTION OF $50.0 MILLION 8.0% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED SHARES

Link to press release: http://www.capitallink.com/press/dssi080119.pdf

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DIAMOND S SHIPPING INC. ANNOUNCES SECOND QUARTER 2019 EARNINGS RELEASE AND CONFERENCE CALL

 

Greenwich, CT, USA, July 31, 2019.  Diamond S Shipping Inc. (NYSE: DSSI) (the “Company”) announced today that the Company plans to release second quarter 2019 earnings before the market opens on Wednesday, August 7, 2019. The Company will host a conference call for investors at 8:00 AM EDT on the same day.

 

Conference Call Details

 

Date:  Wednesday, August 7, 2019

 

Time: 8:00 AM EDT

 

US Dial-In Number: +1 866 211-4137

 

International Dial-In Number: +1 647 889-6723

 

Conference ID: 4767808

 

A live webcast of the conference call will be available from the Company’s website at www.diamondsshipping.com.

 

An audio replay of the conference call will be available starting at 11 am on Wednesday, August 7, 2019 through Wednesday, August 14, 2019 by dialing in +1 800 585-8367 or +1 416 621-4642 and entering the passcode 4767808.

 

About Diamond S Shipping Inc.

 

Diamond S Shipping Inc. (NYSE Ticker: DSSI) owns and operates 68 vessels on the water, including 15 Suezmax vessels, one Aframax and 52 medium-range (MR) product tankers. Diamond S Shipping is one of the largest energy shipping companies providing seaborne transportation of crude oil and refined petroleum products in the international shipping markets.  The Company is headquartered in Greenwich, CT.  More information about the Company can be found at www.diamondsshipping.com.

 

TEN, LTD ANNOUNCES REDEMPTION OF $50.0 MILLION 8.0% SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED SHARES

ATHENS, GREECE – August 1, 2019 - TEN, Ltd (“TEN” or the “Company”) (NYSE:TNP) today announced the completion, on July 30, 2019, of its full redemption of its $50.0 million 8.0% Series B Cumulative Redeemable Perpetual Preferred Shares which were issued on May 10, 2013. The Series B issuance highlighted TEN’s ability to access alternative pockets of growth capital, at competitive rates. TEN’s track record in rewarding shareholders with uninterrupted and healthy common and preferred stock dividends through market cycles, enabled the Company to tap this pool of capital as TEN embarked on its biggest expansion phase, with the building of 19 or 20 twenty modern tankers under long-term accretive contracts. 

Mr. Nikos P. Tsakos, President and CEO stated “The full redemption of the Series B Shares highlights TEN’s ability to raise competitive capital at all times for growth and to meet its obligations. Furthermore, the fact that the Series B Series traded at or above par for most of its life underscores that the bond created between TEN and its investor base remains solid. We remain confident about the tanker market direction. Our 19-vessel growth program is close to completion and we have secured $1.2 billion in minimum contracted revenues with an average fleet-wide charter duration of 2.2 years. Our strong balance sheet allows TEN to explore additional accretive growth opportunities and take advantage of the positive rate environment that is shaping up.”

ABOUT TSAKOS ENERGY NAVIGATION

TEN, founded in 1993 and celebrating this year 26 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 68 double-hull vessels, including two aframax and two suezmax tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.5 million dwt. Of the proforma fleet today, 48 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers.

ABOUT FORWARD-LOOKING STATEMENTS

Except 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.