Pacific Basin Shipping Ltd. - Investor Perception Study

2020 Investor Perception Study

This online questionnaire invites investment community feedback on Pacific Basin’s management team and its ability to deliver on the Company’s strategy, and on our communications and investor relations programme.
Thank you very much in advance for your valuable input which will help us to improve in these areas.

1. Company Strategy

Do you consider management’s capability to be satisfactory in the following aspects?

a. Setting and following through on PB’s long-term strategy
Yes	No	Reasons:
b. Effectively communicate management’s plans to address its strategic challenges
Yes	No	Reasons:
c. Deliver on its 2020 financial (cash flow and / or funding) outlook
Yes	No	Reasons:

2. Executive Directors and the Senior Management Team

Please rate the performance of the Executive Management Team in the following aspects. (1=poor; 5=excellent)

	Excellent				Poor
	5	4	3	2	1
Strategic vision
Articulation of the Strategy
Accessibility
Credibility
Breadth & Depth

Comments:

3. Communications

a. How do you rate our IR team in the following aspects?

	Excellent				Poor
	5	4	3	2	1
Credibility in speaking for senior management
Availability
Transparency
Proactive efforts
Responsiveness
Earnings conferences and calls (format, content)
IR events

b. Do you consider our verbal, published, online and social media communications (Facebook, Twitter, LinkedIn, Youtube, Wechat) to be clear, comprehensive, relevant and timely?

Yes

Not aware any of the above

c. What kind of IR activities would you like to see more of from Pacific Basin?

d. Have our IR services improved or deteriorated in recent months or years? If so, please explain.

Improved

Deteriorated

Please describe any change you have noticed in our IR services:

e. What kind of information would you like to receive more of?

f. Peer comparison – Where are we behind other companies?

g. Please name two companies that you think we can learn from and why?

h. Have you come across particularly interesting and useful IR initiatives elsewhere that you would recommend?

4. Regarding the Board and Independent Non-Executive Directors

a. Do you consider the size of our Board to be appropriate?
Yes	No	Reasons:
b. Do you consider the composition of the Board appropriate?
Yes	No	Reasons:
c. The tenure of an INED is often considered an important factor when determining his/her independence. What other factors would you consider important that enable an INED to remain independent despite having served the company for a long period of time?
		Reasons:
d. In voting on AGM resolutions to re-elect Directors, do you (or your clients) always follow the recommendations of a proxy advisor?
		If yes, who is the proxy advisor you are using?
Yes	No
e. Is there a required process for you (or your clients) to vote against the advisor’s recommendations?
Yes	No	Reasons:

5. Stock performance and related issues

a. What are the most compelling reasons for you to invest in Pacific Basin? (1=irrelevant; 5=very relevant)

	Very relevant				Irrelevant
	5	4	3	2	1
Valuation
Dividend policy
Opportunity in Handysize and Supramax
International growth opportunity
Cash flow generation
YoY growth potential
Capital allocation
Management team
Strong brand

Others (please specify):

b. What are the most compelling reasons for you to sell PB shares or to NOT invest in Pacific Basin?

	Very relevant				Irrelevant
	5	4	3	2	1
Valuation
Lower growth expectations
Concerns in China
Growing too fast
Concerns over dry bulk shipping
Divestment into other shipping sectors
Poor capital allocation
Management team

Others (please specify):

c. What additional or better information does our management team need to convey to the investment community to improve the valuation and overall performance of our stock?

6. Environmental Social Governance (ESG) / Sustainability Engagement

a. Is ESG becoming significantly more of a requirement and/or challenge for you and/or your investors?

Yes, rapidly becoming very significant				No, not a growing requirement
5	4	3	2	1

b. Do you think ESG mandates will significantly affect your ability to invest in Pacific Basin in:

1-3 years

3-5 years

5-10 years

Never

c. Do you or your clients have any mandates other than monetary return which may actually prevent you/them from investing in Pacific Basin?

d. Any comments about Pacific Basin’s ESG initiatives, performance or reporting.

e. How important is it to you that we align our decarbonisation goals with the IMO’s Greenhouse Gas reduction strategy (cutting total GHG output by 50% by 2050)

Very important

Not so important

Irrelevant

f. Do you think the IMO’s GHG strategy will be positive or negative to PB and our shareholders?

Positive Impact

Negative Impact

No Impact

Reasons:

g. Do you prefer that we be more proactive in investing today in decarbonisation or take a "wait and see approach", bearing in mind that zero-emission deep-sea shipping still needs a lot of R&D?

Proactive, invest today

Wait and see, but monitor closely

Reasons:

h. What other ESG/sustainability-related topics are important to you in regards to your dealings with Pacific Basin, and how do you rate their importance for influencing your decisions (on a scale of 1-5)?

1:
2:
3:
4:
5:

7. About You

a. Which sector are you from?

Buy Side	Sell Side (please skip to e)
Other:

b. How long is your investment horizon for Pacific Basin?

0-6 months

6-12 months

1-3 years

3+ years

c. What is your investment style?

Growth	Growth at a reasonable price	Value
Hedge	Index & Quantitative	Fixed Income
Other:

d. How do you describe your stock turnover rate?

Low

Moderate

High

Very high

e. Are you currently holding our stock?

Yes

f. (Optional) Please provide your contact details below if would like us to follow up with you on your comments.

Name:
Company:
Email:
Tel:

Thank You.