Business Context and Reporting Period
This Form 6-K filing, dated November 4, 2008, serves as a notice of the 2008 Annual Meeting of Limited Partners for Navios Maritime Partners L.P. The meeting is scheduled for December 16, 2008, in Piraeus, Greece. The filing includes the proxy statement soliciting votes from unitholders regarding the election of directors and the ratification of independent auditors. The record date for voting eligibility was set as November 3, 2008.
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 corporate governance notice rather than a financial results report.
However, the following capital structure data as of the record date (November 3, 2008) is provided:
- Common Units Outstanding: 13,631,415
- Subordinated Units Outstanding: 7,621,843
- General Partner Units Outstanding: 433,740
- Trading Symbol: NMM (New York Stock Exchange)
Material Changes
No material changes to financial operations or business strategy are detailed in this filing. The document focuses on the procedural aspects of the annual meeting and the composition of the Board of Directors.
Guidance, Outlook, and Governance Proposals
The Board of Directors is soliciting proxies for two primary proposals:
- Election of Directors (Proposal One): Election of four directors to staggered terms:
- Class I (expiring 2009): Robert Pierot and John Karakadas.
- Class II (expiring 2010): Efstathios Loizos.
- Class III (expiring 2011): Leonidas Korres.
Three additional directors (Angeliki Frangou, George Achniotis, and Shunji Sasada) are appointed by the General Partner and are not subject to election by unitholders.
- Ratification of Independent Public Accountants (Proposal Two): Ratification of PricewaterhouseCoopers S.A. as the independent auditor for the fiscal year ending December 31, 2008.
The Board unanimously recommends a vote "FOR" all nominees and "FOR" the ratification of the auditors. No specific risks, contingencies, or unusual items are disclosed in this text.
Important Facts for Investors to Verify
- Verify the voting record date of November 3, 2008, to confirm eligibility to vote at the December 16, 2008 meeting.
- Confirm the total number of outstanding units (Common, Subordinated, and General Partner) to understand the voting power distribution.
- Review the 2007 Annual Report on Form 20-F (referenced in the text) for actual financial performance data, as this filing contains no financial metrics.
- Note that the Board recommends voting for the proposed directors and the ratification of PricewaterhouseCoopers S.A.