2024-04-18 15:35:18 ET
Pacific Basin Shipping Limited (PCFBF)
Q1 2024 Trading Update Conference Call
April 18, 2024, 6:00 AM ET
Company Participants
Martin Fruergaard - Chief Executive Officer
Michael Jorgensen - Chief Financial Officer
Conference Call Participants
Parash Jain - HSBC
Nathan Gee - Bank of America
Andrew Lee - Jefferies
Presentation
Operator
Welcome to today’s Pacific Basin 2024 First Quarter Trading Update Conference Call. I’m pleased to present Chief Executive Officer, Mr. Martin Fruergaard; and Chief Financial Officer, Mr. Michael Jorgensen. For the first part of this call, all participants will be in listen-only mode and afterwards there will be a question-and-answer session.
Mr. Fruergaard, please begin.
Martin Fruergaard
Yeah. Thank you very much. And welcome ladies and gentlemen and thank you for attending Pacific Basin’s first quarter trading update call. As said, my name is Martin Fruergaard, CEO of Pacific Basin and I’m pleased to have our CFO, Michael Jorgensen with me today. Assuming that you have already gone through the presentation, I will briefly highlight some of the key points discussed in it before we proceed with the Q&A session.
Please turn to Slide 3. We are delighted to commence our call, highlighting our recent announcement that Pacific Basin is ready to initiate its first ever share buyback program based on approval of our share buyback mandate by our shareholders at the upcoming 2024 Annual General Meeting, which will take place tomorrow.
This program, with an allocation of up to US$40 million, is scheduled to run from the 25th of April until the 31st of December 2024. We intend to cancel all shares that we repurchase, thereby improving the value of our remaining shareholders....
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Pacific Basin Shipping Limited (PCFBF) Q1 2024 Trading Update Call Transcript