Genco Shipping & Trading Limited Comments on Diana Shipping Inc.'s Misleading Tender Offer Disclosures

NEW YORK, July 08, 2026 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK ) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regarding the pending tender offer by Diana Shipping Inc. (“Diana”): We are dismayed by Diana’s continued misleading disclosures regarding its tender offer, and we caution Genco shareholders not to tender their shares into Diana’s tender offer. To set the record straight, Diana has taken two separate and fully distinct actions: A tender offer for only $24.80 per share in cash. It is not for $27.34 per share as Diana misleadingly suggests. An indicative non-binding proposal made to the Genco Board of Directors to acquire Genco for consideration consisting of $24.80 in cash and one share of Diana stock. If you tender your shares into the tender offer, you would only receive $24.80 per share in cash , assuming the many conditions are met. Even though Diana has been promising to file an amended tender offer statement on Schedule TO and a registration statement on Form F-4 since June 17, Diana has NOT updated its tender offer materials to align the tender offer’s terms with the terms of its indicative, non-binding proposal to the Genco Board. Genco’s Board previously reviewed and unanimously rejected the $24.80 tender offer, determining that it continued to meaningfully undervalue the Company and its assets, remained well below Genco’s net asset value (NAV) and did not include any control premium.