Seanergy Maritime Holdings Corp. Announces Letter of Intent for Strategic Acquisition of a Controlling Interest in Maritime Capital Shipping Limited
Holdings Corp. (the “Company”) (NASDAQ: SHIP; SHIP.W) announced today that it
has entered into a Letter of Intent with Maritime Capital Shipping (Holdings)
Limited, of the
interest in Maritime Capital Shipping Limited, of
purchase price of
MCS is based in
transportation services through its ownership of dry bulk vessels. MCS was
founded in 2006 by unaffiliated third parties, a team of dedicated
professionals with many years of experience operating vessels in the dry bulk
sector. The company generates its revenues by employing its ships on time and
bareboat charters with well established shipping operators. Its current fleet
is comprised of 9 Handysize dry bulk carriers with a combined cargo-carrying
capacity of 249,236 dwt and an average fleet age of approximately 10.7 years.
Maritime Capital Shipping (Holdings) Limited, a company controlled by
members of the Restis family, will retain a 49% ownership interest in MCS.
As a result of the acquisition, the size of the Company’s fleet will
increase from 11 to 20 dry bulk vessels with a combined cargo-carrying
capacity of approximately 1,292,532 dwt and an average fleet age of 12.6
years, comprising of 4 Capesize, 3 Panamax, 2 Supramax, 1 Handymax and 10
Handysize dry bulk carriers.
The acquisition is subject to final documentation, expected to be entered
into by the Seller and the Company by
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp., the successor to Seanergy Maritime
Corp., is a
cargoes through the ownership and operation of dry bulk carriers.
The Company’s initial fleet comprised two Panamax, two Supramax and two
Handysize dry bulk carriers that Seanergy purchased and took delivery of in
the third and fourth quarters of 2008 from companies associated with members
of the Restis family. In
interest in Bulk Energy Transport (Holdings) Limited (“BET”) which owns five
drybulk carriers, four Capesize and one Panamax.
As a result, the Company’s current controlled fleet includes 11 drybulk
carriers (4 Capesize, 3 Panamax, 2 Supramax and 2 Handysize vessels) with a
total carrying capacity of 1,043,296 dwt and an average age of 14 years.
The Company’s common stock and warrants trade on the NASDAQ Global Market
under the symbols SHIP and SHIP.W, respectively.
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended) concerning future events and the
Company’s growth strategy and measures to implement such strategy. Words such
as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,”
“estimates,” and variations of such words and similar expressions are
intended to identify forward-looking statements. Although the Company
believes that such expectations will prove to have been correct, these
statements involve known and unknown risks and are based upon a number of
assumptions and estimates, which are inherently subject to significant
uncertainties and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed or implied
by such forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, the scope and timing of
SEC and other regulatory agency review, competitive factors in the market in
which the Company operates; risks associated with operations outside
filings with the Securities and Exchange Commission. The Company’s filings
can be obtained free of charge on the SEC’s website at www.sec.gov. The
Company expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in the Company’s expectations with respect
thereto or any change in events, conditions or circumstances on which any
statement is based.
For further information please contact: Seanergy Maritime Holdings Corp. Dale Ploughman - Chief Executive Officer Christina Anagnostara - Chief Financial Officer Tel: +30-210-9638461 E-mail: email@example.com Investor Relations / Media Capital Link, Inc. Paul Lampoutis 230 Park Avenue Suite 1536 New York, NY 10169 Tel. +1-212-661-7566 E-mail: firstname.lastname@example.org
SOURCE Seanergy Maritime Holdings Corp