Global Ship Lease Inc Stock Price, News & Analysis

Global Ship Lease (NYSE: GSL) reconvened its 2022 Annual Meeting of Shareholders on February 2, 2023, to vote on Proposal Three, which sought to establish a quorum of one-third of shareholder votes. Despite approximately 89% support from Class A common shares, the proposal failed to secure a majority approval and was not adopted. The meeting will not be adjourned further. As of December 29, 2022, Global Ship Lease owns 65 containerships with a capacity of 342,348 TEU and has contracted revenue of $2.65 billion, with an average charter term of 3.7 years.

Global Ship Lease reconvenes its 2022 Annual Meeting on February 2, 2023, to vote on Proposal Three, which sets a quorum of one-third of the shares present for shareholder meetings. As of January 5, 2023, about 88% of Class A shares voted supportively, but the proposal needs a majority approval. The meeting is set for 6:00 p.m. local time in Athens, Greece. Shareholders are urged to submit proxies ahead of the reconvened meeting, maintaining the October 17, 2022 record date.

Global Ship Lease (NYSE:GSL) declared a cash dividend of $0.546875 per depositary share for its 8.75% Series B Preferred Shares. This dividend covers the period from October 1 to December 31, 2022, and will be distributed on January 3, 2023, to shareholders on record by December 23, 2022. As of November 8, 2022, Global Ship Lease owned 65 containerships with a total capacity of 342,348 TEU. The company has contracted revenue of $2.65 billion with a weighted average remaining charter term of 3.7 years.

Global Ship Lease reconvened its 2022 Annual Meeting on January 5, 2023, to address Proposal Three regarding quorum requirements for shareholder meetings. The meeting, held in Athens, saw the re-election of directors Michael Chalkias and George Giouroukos until 2025 and ratified PricewaterhouseCoopers S.A. as the independent accounting firm for fiscal year 2022. Additional time was provided for shareholders to vote on Proposal Three, which lacked majority support as of December 7, 2022. Shareholders are encouraged to review proxy materials for voting details.

Global Ship Lease (GSL) reported a strong third quarter in 2022, citing a 24.5% rise in operating revenue to $172.5 million and a 42.4% increase in net income, reaching $89.6 million.

For the nine months ended September 30, revenues surged 63.2% to $480.6 million, while net income soared 117.1% to $210.8 million. GSL declared a dividend of $0.375 per share, to be paid on December 2, 2022. The company secured $770.6 million in new charter contracts, improving its revenue visibility. GSL's conservative financial management is evidenced by reduced debt costs and no refinancing needs until 2026.

Global Ship Lease (NYSE:GSL) announced a conference call to discuss its third quarter 2022 results on November 9, 2022, at 10:30 a.m. ET. Financial results for the quarter ending September 30, 2022, will be released before market open on the same day. As of August 30, 2022, the company owned 65 containerships with a capacity of 342,348 TEU, supported by contracted revenues of $2.8 billion, representing an average remaining charter term of 4.0 years. The call will be accessible via dial-in and a live webcast available on the company’s website.

Global Ship Lease (NYSE:GSL) has rescheduled its Annual Meeting of Shareholders to December 7, 2022, at 11:00 a.m. ET. The record date for shareholder eligibility is October 17, 2022. Key agenda items include electing two directors and ratifying the appointment of PricewaterhouseCoopers S.A. as the independent auditor for the fiscal year ending December 31, 2022. An amendment to reduce the quorum requirement to one-third of shares is also proposed to enhance operational efficiency and decrease proxy solicitation costs. Proxy materials will be available to shareholders and filed with the SEC.

Global Ship Lease (NYSE:GSL) announced that its adjourned Annual Meeting of Shareholders, held on October 7, 2022, did not achieve the required quorum. Consequently, a new record date and meeting date will be established. Shareholders of record as of this new date will receive notice and proxy materials. As of August 30, 2022, the company operates 65 containerships with a total capacity of 342,348 TEU. The average remaining term of charters is 3.1 years, with contracted revenue approximating $2.4 billion.

Global Ship Lease (NYSE:GSL) held its Annual Meeting of Shareholders on September 27, 2022, but had to adjourn due to insufficient quorum. The meeting is rescheduled for October 7, 2022. Key agenda items include the election of two Term II Directors and the ratification of PricewaterhouseCoopers as the independent auditor for the fiscal year ending December 31, 2022. Shareholders of record were informed by mail on August 18, 2022. As of August 30, 2022, Global Ship Lease owns 65 containerships with a capacity totaling 342,348 TEU and has secured $2.4 billion in contracted revenue.