Safe Bulkers Issues Notice of Redemption of Series C Preferred Shares

Source: www.gulfoilandgas.com 3/30/2022, Location: Europe

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today that it is calling for redemption (the “Redemption”) of 1,492,554 of the outstanding 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share (the “Series C Preferred Shares”). There are currently 2,297,504 issued and outstanding Series C Preferred Shares.

The Series C Preferred Shares will be redeemed on April 29, 2022 (the “Redemption Date”) at a redemption price of $25.00 per Series C Preferred Share plus all accumulated and unpaid dividends to, but excluding, the Redemption Date (the “Redemption Price”). From and after the Redemption Date, all distributions on the Series C Preferred Shares to be redeemed will cease to accumulate, such redeemed Series C Preferred Shares shall no longer be deemed outstanding, and all rights of the holders of such shares will terminate, except for the right to receive the Redemption Price, without interest thereon.

The notice of redemption specifying the terms, conditions and procedures for the Redemption (the “Redemption Notice”) will be mailed to holders of record of Series C Preferred Shares, and is available by contacting American Stock Transfer & Trust Company, LLC (“AST”), the transfer and paying agent for the Series C Preferred Shares, by mail at 6201 15th Avenue Brooklyn, NY 11219 Attention: Corporate Actions, 1 (800) 937-5449. Questions regarding the Redemption of the Series C Preferred Shares, including the contents of the Redemption Notice, may be directed to AST.


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