Business Context and Reporting Period
This Form 6-K, dated October 25, 2013, serves as a notice and proxy statement for Navios Maritime Partners L.P. (NYSE: NMM), a foreign private issuer. The filing announces the 2013 Annual Meeting of Limited Partners scheduled for December 4, 2013, in Monaco. The document outlines the agenda for the meeting and solicits proxies from unitholders to vote on corporate governance matters.
Key Financial Metrics
The filing text does not provide specific financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity for the current or prior periods. This document is a procedural filing for an annual meeting rather than a financial results report. However, it notes the following capital structure details as of the record date (October 24, 2013):
- Common Units Outstanding: 71,034,163
- General Partner Units Outstanding: 1,449,681
- Voting Rights: One vote per common unit.
Material Changes
The filing does not disclose material changes in financial condition or operations compared to prior periods. The primary updates relate to corporate governance:
- Board Composition: The filing addresses the expiration of the term for the Class II director at the 2013 Annual Meeting.
- Auditor Appointment: The Board proposes the ratification of PricewaterhouseCoopers as the independent public accountant for the fiscal year ending December 31, 2013, continuing their role from the 2012 fiscal year.
Guidance, Outlook, and Management Commentary
The document contains no financial guidance, market outlook, or management commentary regarding future business performance. The focus is strictly on the mechanics of the upcoming annual meeting and the specific proposals to be voted upon:
- Proposal One: Election of Dimitris Papastefanou Gkouras as a Class II Director for a term expiring at the 2016 Annual Meeting. The Board unanimously recommends a vote "FOR" this proposal.
- Proposal Two: Ratification of the appointment of PricewaterhouseCoopers as independent public accountants. The Board unanimously recommends a vote "FOR" this proposal.
- Risks and Contingencies: No specific risks or contingencies are detailed in this filing. The text notes that if a nominee is unavailable, the proxy holders will vote for a substitute recommended by the Board.
Important Facts for Investors to Verify
- Meeting Date and Location: Verify attendance or proxy submission for the meeting on December 4, 2013, in Monaco.
- Record Date: Confirm ownership status as of the close of business on October 24, 2013, to determine voting eligibility.
- Director Background: Review the background of the nominee, Dimitris Papastefanou Gkouras, who brings experience in shipping finance from Marfin Egnatia Bank and Credit Commercial de France.
- Auditor Continuity: Note that PricewaterhouseCoopers has audited the company since inception and has no direct financial interest in the partnership.
- Voting Thresholds: Understand that Proposal One requires a plurality of votes cast, while Proposal Two requires a majority of votes present or represented.