FSL Seeks Unit Buy Back Mandate

In an effort to enhance shareholders’ value, the Trustee-Manager of First Ship Lease (“FSL”) is seeking the approval of its unitholders this week to buy back up to 10% of the total number of issued units. FSL says the unit buy-back mandate is a flexible cost effective tool of capital management that can improve the net asset value and mitigate short term market volatility by offsetting the effects of short term speculative trading of the units.

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