Business Context and Reporting Period
This Form 6-K filing, dated November 18, 2019, serves as a notice of the 2019 Annual Meeting of Limited Partners for Navios Maritime Partners L.P. The meeting is scheduled for December 19, 2019, in Monaco. The document includes the Notice of Annual Meeting and the Proxy Statement, soliciting votes from common unitholders (Limited Partners) on corporate governance matters. The record date for determining voting eligibility was November 14, 2019.
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 proxy statement focused on meeting logistics and voting proposals rather than financial reporting. However, it notes the following capital structure details as of the record date:
- Outstanding Common Units: 10,983,679
- Outstanding General Partner Units: 230,524
- Trading Symbol: NMM (New York Stock Exchange)
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:
- Director Election: The Board is seeking to re-elect Orthodoxia Zisimatou as a Class II director for a three-year term expiring in 2022.
- Auditor Ratification: The Board is seeking ratification of PricewaterhouseCoopers S.A. as the independent registered public accounting firm for the fiscal year ending December 31, 2019.
Guidance, Outlook, and Risks
Management Commentary: The Board of Directors unanimously recommends a vote "FOR" the election of the Class II director nominee and "FOR" the ratification of the independent auditor. The filing emphasizes the importance of voting by proxy to ensure representation at the meeting.
Quorum and Voting Thresholds:
- Quorum: Requires the presence of holders of at least 33% of outstanding common units.
- Proposal 1 (Director Election): Requires a plurality of votes cast. Broker non-votes have no effect.
- Proposal 2 (Auditor Ratification): Requires the affirmative vote of a majority of votes present. Abstentions count as votes against.
Risks and Contingencies: The filing notes that if the independent auditor is not ratified, the Audit Committee will reconsider its selection. No other specific business risks or contingencies are detailed in this proxy statement.
Important Facts for Investors to Verify
- Meeting Date and Location: December 19, 2019, at 11:30 a.m. local time in Monaco.
- Voting Record Date: November 14, 2019 (only unitholders of record on this date may vote).
- Director Nominee Background: Orthodoxia Zisimatou, age 56, serves on the Audit, Compensation, and Conflicts Committees and is an independent director with a background in maritime law.
- Auditor Tenure: PricewaterhouseCoopers S.A. has audited the company's financial statements for the fiscal year ended December 31, 2018, and is proposed for 2019.
- Financial Data Source: Investors seeking detailed financial metrics (revenue, EBITDA, debt levels) must refer to the company's 2018 Annual Report on Form 20-F, as this filing does not contain them.