Diana Shipping launches a self-tender offer

Yesterday, Diana Shipping Inc. (Diana Shipping) a global shipping company specialising in the ownership of dry bulk vessels, announced the commencement of a tender offer to purchase up to 4 166 666 shares, or approximately 3.86%, of its outstanding common stock using funds available from cash and cash equivalents at a price of US$3.60 per share. The tender offer will expire at the end of the day, 5:00 p.m., Eastern Time, on 20 December 2018, unless extended or withdrawn. The Board of Directors determined that it is in the company's best interest to repurchase shares at this time given Diana Shipping's cash position and stock price. The tender offer is not conditioned upon any minimum number of shares being tendered; however, the tender offer is subject to a number of other terms and conditions. Specific instructions and an explanation of the terms and conditions of the tender offer are contained in the offer to purchase and related materials that are being mailed to shareholders.