A move by top shareholder John Fredriksen to derail ratification of the “poison pill” in International Seaways’ bylaws nearly prevailed at the New York owner’s annual shareholders meeting on Tuesday.
Documents newly filed with US securities regulators show that 19.81m shares were voted in favour of a three-year extension of the protocol, which promises massive dilution to any one investor who exceeds a 20% holding in the stock.
