Business Context and Reporting Period
This Form 6-K filing by Dynagas LNG Partners LP (NYSE: DLNG) covers the month of October 2016. The Partnership is a growth-oriented limited partnership focused on owning and operating LNG carriers. The filing primarily serves to announce the date and details of the 2016 Annual General Meeting of Limited Partners, scheduled for November 22, 2016, in Glyfada, Greece.
Financial Metrics
The filing text does not provide specific financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity for the period. The document is a procedural filing regarding corporate governance and shareholder meetings rather than a financial results report.
Material Changes and Capital Structure
As of the record date of September 30, 2016, the Partnership's capital structure consisted of:
- Common Units: 20,505,000 outstanding
- Subordinated Units: 14,985,000 outstanding
- General Partner Units: 35,536 outstanding
- Series A Cumulative Redeemable Preferred Units: 3,000,000 outstanding
No material changes to operations or financial condition are reported in this specific filing.
Corporate Actions and Governance
The filing details two primary proposals for the Annual General Meeting:
- Election of Director: To elect Alexios Rodopoulos as a Class II Director for a three-year term expiring in 2019. Mr. Rodopoulos is an independent shipping business consultant and current Chairman of the Audit Committee.
- Appointment of Auditors: To approve the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A. as the independent auditors for the fiscal year ending December 31, 2016.
The Board unanimously recommends a vote in favor of both proposals. The record date for voting eligibility was September 30, 2016.
Key Facts for Investor Verification
- Meeting Date: November 22, 2016, at 4:00 p.m. local time in Glyfada, Greece.
- Voting Record Date: September 30, 2016.
- Outstanding Units: Total of 35,490,000 voting units (Common and Subordinated) as of the record date.
- Auditor: Ernst & Young (Hellas) is proposed for the 2016 fiscal year.
- Financial Data: This filing contains no financial results; investors should refer to the 2015 Annual Report or subsequent 10-Q/20-F filings for financial metrics.