{"id":755323,"date":"2023-05-04T18:22:20","date_gmt":"2023-05-04T22:22:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oceanpal-inc-announces-results-of-2023-annual-meeting-of-shareholders\/"},"modified":"2023-05-04T18:22:20","modified_gmt":"2023-05-04T22:22:20","slug":"oceanpal-inc-announces-results-of-2023-annual-meeting-of-shareholders","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oceanpal-inc-announces-results-of-2023-annual-meeting-of-shareholders\/","title":{"rendered":"OceanPal Inc. Announces Results of 2023 Annual Meeting of Shareholders"},"content":{"rendered":"<div class=\"mw_release\">\n<p>ATHENS, Greece, May  04, 2023  (GLOBE NEWSWIRE) &#8212; OceanPal Inc. (NASDAQ: OP) (the \u201cCompany\u201d), a global shipping company specializing in the ownership of vessels, today announced that the Company\u2019s Annual Meeting of Shareholders (the \u201cMeeting\u201d) was duly held on May 3, 2023, in virtual format only via the Internet.<\/p>\n<p align=\"justify\">At the Meeting, each of the following proposals, which are set forth in more detail in the Notice of Annual Meeting of Shareholders and the Company\u2019s Proxy Statement sent to shareholders on or around March 28, 2023, was approved and adopted:<\/p>\n<p align=\"justify\">(1) The election of two Class II Directors to serve until the 2026 annual meeting of shareholders;<\/p>\n<p align=\"justify\">(2) The approval of the following amendments to the Company\u2019s Amended and Restated Articles of Incorporation: (a) authorize the Board of Directors to effect one or more reverse stock splits of the Company\u2019s issued common shares, in the aggregate ratio of not more than 1-for-250, with the exact ratio to be determined by the Board of Directors in its discretion, (b) provide the Board of Directors with the sole authority to amend the Company\u2019s Amended and Restated By-laws and to eliminate the right of shareholders to make such amendments, and (c) provide the Board of Directors with the sole authority to call special meetings of shareholders of the Company and to eliminate the right of holders of not less than 20% of all outstanding common shares of the Company to call such meetings; and<\/p>\n<p align=\"justify\">(3) The appointment of Ernst &amp; Young (Hellas) Certified Auditors Accountants S.A. as the Company\u2019s independent auditors for the fiscal year ending December 31, 2023.<\/p>\n<p align=\"justify\">\n        <strong>About the Company<\/strong>\n      <\/p>\n<p align=\"justify\">OceanPal Inc. is a global provider of shipping transportation services through its ownership of vessels. The Company\u2019s vessels currently transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes and it is expected that the Company\u2019s vessels will be primarily employed on short term time and voyage charters following the completion of their current employments.<\/p>\n<p align=\"justify\">\n        <strong>Forward Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements.<\/p>\n<p align=\"justify\">The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words \u201cbelieve,\u201d \u201canticipate,\u201d \u201cintends,\u201d \u201cestimate,\u201d \u201cforecast,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cpending\u201d and similar expressions identify forward-looking statements.<\/p>\n<p align=\"justify\">The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management\u2019s examination of historical operating trends, data contained in the Company\u2019s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company\u2019s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.<\/p>\n<p align=\"justify\">In addition to these important factors, other important factors that, in the Company\u2019s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses\u2019 and governments\u2019 responses to the pandemic on our operations, personnel, and on the demand for seaborne transportation of bulk products; the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company\u2019s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company\u2019s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see the Company\u2019s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMjUyOCM1NTc2Mzg3IzIyNTI0MzU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MzEwMDlhYTYtYmM0Mi00NzQ1LWEyNWYtMDJiNWVjYzlmMDAzLTEyNjM5ODg=\/tiny\/OceanPal-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Corporate Contact:\r\nMargarita Veniou\r\nChief Corporate Development &amp; Governance Officer and Secretary\r\nTelephone: +30-210-9485-360\r\nEmail: mveniou@oceanpal.com\r\nWebsite: www.oceanpal.com\r\nTwitter: @OceanPal_Inc\r\n\r\nInvestor and Media Relations:\r\nEdward Nebb\r\nComm-Counsellors, LLC\r\nTelephone: + 1-203-972-8350\r\nEmail: enebb@optonline.net<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ATHENS, Greece, May 04, 2023 (GLOBE NEWSWIRE) &#8212; OceanPal Inc. (NASDAQ: OP) (the \u201cCompany\u201d), a global shipping company specializing in the ownership of vessels, today announced that the Company\u2019s Annual Meeting of Shareholders (the \u201cMeeting\u201d) was duly held on May 3, 2023, in virtual format only via the Internet. At the Meeting, each of the following proposals, which are set forth in more detail in the Notice of Annual Meeting of Shareholders and the Company\u2019s Proxy Statement sent to shareholders on or around March 28, 2023, was approved and adopted: (1) The election of two Class II Directors to serve until the 2026 annual meeting of shareholders; (2) The approval of the following amendments to the Company\u2019s Amended and Restated &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/oceanpal-inc-announces-results-of-2023-annual-meeting-of-shareholders\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;OceanPal Inc. Announces Results of 2023 Annual Meeting of Shareholders&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-755323","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OceanPal Inc. 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At the Meeting, each of the following proposals, which are set forth in more detail in the Notice of Annual Meeting of Shareholders and the Company\u2019s Proxy Statement sent to shareholders on or around March 28, 2023, was approved and adopted: (1) The election of two Class II Directors to serve until the 2026 annual meeting of shareholders; (2) The approval of the following amendments to the Company\u2019s Amended and Restated &hellip; Continue reading &quot;OceanPal Inc. 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