BRIEF-Scorpio Bulkers Inc. Announces Exit From Dry Bulk Sector, Classifying Its Fleet As Held For Sale

Reuters

Dec 21, 2020

Dec 20 (Reuters) - Scorpio Bulkers Inc :

* . ANNOUNCES EXIT FROM DRY BULK SECTOR, CLASSIFYING ITS FLEET AS HELD FOR SALE, GIVING NOTICE TO TERMINATE AGREEMENTS WITH ITS VESSEL MANAGERS, AND INTENTION TO CHANGE THE COMPANY NAME

* EXPECTS TO RECORD A WRITE-DOWN RANGING FROM $475.0 MILLION TO $500.0 MILLION ON VESSELS SOLD AND CLASSIFIED AS HELD FOR SALE

* COMPANY WILL ALSO WRITE-OFF APPROXIMATELY $10.0 MILLION OF DEFERRED FINANCING COSTS AS OUTSTANDING DEBT IS REPAID

* BOARD OF DIRECTORS HAS ALSO RESOLVED TO SEEK SHAREHOLDERS' APPROVAL TO CHANGE NAME OF COMPANY

* PROPOSED NEW NAME OF COMPANY WILL BE ANNOUNCED ON OR BEFORE JANUARY 8, 2021

* SCORPIO BULKERS-SUBMITTED NOTICE OF TERMINATION, EFFECTIVELY ENDING ITS RELATIONSHIP WITH SCORPIO COMMERCIAL MANAGEMENT S.A.M. & SCORPIO SHIP MANAGEMENT S.A.M

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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Announces Exit From Dry Bulk Sector, Classifying Its Fleet As Held For Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2020-12-21 03:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>Dec 20 (Reuters) - <a href=\"https://laohu8.com/S/SALT\">Scorpio Bulkers Inc</a>   :</p><p>   * . ANNOUNCES EXIT FROM DRY BULK SECTOR, CLASSIFYING ITS FLEET AS HELD FOR SALE, GIVING NOTICE TO TERMINATE AGREEMENTS WITH ITS VESSEL MANAGERS, AND INTENTION TO CHANGE THE COMPANY NAME</p><p>   * EXPECTS TO RECORD A WRITE-DOWN RANGING FROM $475.0 MILLION TO $500.0 MILLION ON VESSELS SOLD AND CLASSIFIED AS HELD FOR SALE</p><p>   * COMPANY WILL ALSO WRITE-OFF APPROXIMATELY $10.0 MILLION OF DEFERRED FINANCING COSTS AS OUTSTANDING DEBT IS REPAID</p><p>   * BOARD OF DIRECTORS HAS ALSO RESOLVED TO SEEK SHAREHOLDERS' APPROVAL TO CHANGE NAME OF COMPANY</p><p>   * PROPOSED NEW NAME OF COMPANY WILL BE ANNOUNCED ON OR BEFORE JANUARY 8, 2021</p><p>   * SCORPIO BULKERS-SUBMITTED NOTICE OF TERMINATION, EFFECTIVELY ENDING ITS RELATIONSHIP WITH SCORPIO COMMERCIAL MANAGEMENT S.A.M. &amp; SCORPIO SHIP MANAGEMENT S.A.M</p><p>Source text for Eikon:    Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2093329344","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2093329344","pubTimestamp":1608491417,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Dec 20 (Reuters) - Scorpio Bulkers Inc   :   * . 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