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DryShips Inc. Announces Stock Split
| Source: DryShips Inc.
ATHENS, GREECE--(Marketwire - November 12, 2007) - DryShips Inc. (NASDAQ : DRYS ) today announced
that its Board of Directors intends to call a special meeting of
shareholders to approve an amendment to the Company's Articles of
Incorporation to increase the Company's authorized common stock.
Upon such approval, the Board intends to conduct a 3:1 split of the
Company's outstanding common stock in the form of a stock dividend. Proxy
materials for the special meeting will be distributed when available.
About DryShips
DryShips Inc. is an international provider of drybulk cargo marine
transportation services. Headquartered in Athens, Greece, DryShips
currently owns and operates a fleet of 44 drybulk carriers comprising 5
Capesize, 29 Panamax, 1 Handymax, 1 Supramax and 8 newbuilding drybulk
vessels, with a combined deadweight tonnage of approximately 4 million
tons.
DryShips Inc.'s common stock is listed on NASDAQ Global Market where it
trades under the symbol "DRYS."
Forward-Looking Statement
Matters discussed in this release may constitute forward-looking
statements. Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future events
or performance, and underlying assumptions and other statements, which are
other than statements of historical facts.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical
operating trends, data contained in our records and other data available
from third parties. Although DryShips Inc. believes that these assumptions
were reasonable when made, because these assumptions are inherently subject
to significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, DryShips Inc. cannot
assure you that it will achieve or accomplish these expectations, beliefs
or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include
the strength of world economies and currencies, general market conditions,
including changes in charter hire rates and vessel values, changes in
demand that may affect attitudes of time charterers to scheduled and
unscheduled drydocking, changes in DryShips Inc.'s operating expenses,
including bunker prices, dry-docking and insurance costs, or actions taken
by regulatory authorities, potential liability from pending or future
litigation, domestic and international political conditions, potential
disruption of shipping routes due to accidents and political events or acts
by terrorists.
Risks and uncertainties are further described in reports filed by DryShips
Inc., with the U.S. Securities and Exchange Commission.
Visit our website at www.dryships.com