Americas News
Aegean: No Director Nominations Received from Shareholder Group
A group of shareholders in global bunkering outfit Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean) has yet to nominate directors for the 2018 annual shareholder meeting, the company has said.
The group, which controls a 12% stake in the New York-company, wrote a public letter to Aegean's management suggesting that the company's weak share price needed to addressed.
Ship & Bunker contacted Aegean for comment at the time the letter was published and subsequently was pointed to the following stock exchange announcement.
Aegean "received a letter from a purported group of shareholders of the Company, advising the Company that the group intends to nominate director candidates for election at the Company's 2018 annual meeting of shareholders and file an ownership report under the US Securities Exchange Act of 1934, as amended, on Schedule 13D", the statement said.
The statement went on: "As of the date of this Report (20 December) on Form 6-K, the Company has not received any shareholder director nominations for its 2018 shareholder meeting and is not aware of any Schedule 13D filed by the shareholder group."
In the statement, Aegean said it is "continuing to evaluate the shareholders' letter".
The shareholders' beef with Aegean is a 75% fall in the share price since listing and, in its view, the absence of a coherent strategy to rectify the loss in value.
