Genco Shipping & Trading Ltd is trading at $22.39 (5.9% down) after hours, extending recent weakness as the market looks toward the company’s June 18 annual meeting.
- Investors are processing the company's decision to curb its poison pill provision and require shareholder approval for any future extensions.
- The governance changes occur amidst an ongoing proxy battle with major shareholder Diana Shipping, which is currently pushing for board restructuring and strategic shifts.