Safe Bulkers (SB) Announces Common Stock Purchase Program by Controlling Stockholder
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Safe Bulkers, Inc. (NYSE: SB) announced that it has been advised by its controlling stockholder, Vorini Holdings Inc., that Vorini has authorized a program under which it may from time to time in the future purchase shares of the Company's common stock. If the maximum number of shares of common stock are purchased, it would represent approximately 2% of the Company's shares outstanding and 10.9% of its public float.
Vorini is controlled by the Company's Chairman and Chief Executive Officer Polys Hajioannou and his brother, Nicolaos Hajioannou, who is a former director and former Chief Operating Officer of the Company. Vorini currently owns 44,500,000 shares of the Company's common stock which constitutes approximately 81.64% of the shares of the Company's common stock outstanding.
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