ATHENS, GREECE--(Marketwire - July 29, 2010) - Globus Maritime Ltd ("Globus" or the "Company") (
The 1-for-4 reverse split was approved by the Company's shareholders at the Annual General Meeting held on July 28, 2010, together with all the special resolutions relating to the possible listing of the Company's shares on a U.S. Stock Exchange. Were the Company to achieve such a listing, it would seek to delist its shares from AIM as soon as reasonably practicable so as to avoid the unnecessary expense of maintaining dual listings.
George Karageorgiou, Chief Executive Officer of Globus Maritime, stated: "We consolidated our shares in preparation of the possible listing on a U.S. Stock Exchange. We believe that listing Globus on an exchange in the United States may result in our shares trading at a more favourable price relative to their net asset value than has recently been the case. This belief is based on the performance of share prices of comparable companies currently trading on U.S. stock exchanges, which generally benefit from a larger universe of research analysts as well as a larger base of both institutional and individual investors. In addition, the Board believes that the Company would also be in a better position to raise funds for its future development."
Shareholders who hold their shares in certificated form will receive a new certificate within 14 days of the Record Date. Old certificates are now invalid. Shareholders holding a number of shares that is not evenly divisible by the ratio of the reverse stock split will not receive a cash payment for any fractional shares.
Further Information - Notes to Editors
About Globus Maritime Limited
Globus is a global provider of seaborne transportation services for dry bulk cargoes, including among others iron ire, coal, grain, cement and fertilizers, along worldwide shipping routes. Globus owns and operates one Panamax, one Kamsarmax, and three Supramax vessels, with a weighted average age of 3.4 years as at June 30, 2010, and a total carrying capacity of 319,952 DWT.
Globus is listed on the AIM market of the London Stock Exchange under ticker GLBS. Jefferies International Limited is acting as nominated adviser and broker to the Company.
Contact Information:
For further information, please contact:
Globus Maritime Limited
+30 210 960 8300
Elias Deftereos
CFO
deftereos@globusmaritime.gr
Jefferies International Limited
+44 (0) 20 7029 8000
Oliver Griffiths
Anne Dovigen
Capital Link - London
+44 (0) 20 3206 1322
globus@capitallink.com
Annie Evangeli
Capital Link - New York
+1 212 661 7566
globus@capitallink.com
Ramnique Grewal