International Seaways Adopts Limited Duration Stockholder Rights Plan
International Seaways, Inc. (NYSE: INSW) (the Company or INSW) one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today that its Board of Directors has unanimously adopted a limited duration stockholder rights plan (the Rights Plan).
- International Seaways, Inc. (NYSE: INSW) (the Company or INSW) one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today that its Board of Directors has unanimously adopted a limited duration stockholder rights plan (the Rights Plan).
- The Rights Plan is intended to enable all Company stockholders to realize the long-term value of their investment in the Company.
- The Rights Plan is not intended to interfere with any transaction that the Board of Directors determines to be in the best interests of stockholders, nor does the Rights Plan prevent the Board of Directors from considering any proposal.
- The Companys Board of Directors may consider an earlier termination of the Rights Plan if market and other conditions warrant.