Contact Information: Investor Relations / Media: Nicolas Bornozis Capital Link, Inc., New York Tel. 212-661-7566 E-mail: dryships@capitallink.com
DryShips Inc. Completes Acquisition of Ocean Rig ASA
| Source: DryShips Inc.
ATHENS, GREECE--(Marketwire - July 14, 2008) - DryShips Inc. (NASDAQ : DRYS ) today announced
that Primelead Limited, a wholly owned subsidiary of DryShips Inc., has
effected a compulsory transfer of all remaining shares in Ocean Rig ASA and
as a consequence of the compulsory transfer and cancellation of the
treasury shares held by Ocean Rig ASA, Primelead Limited is owner of 100%
of the shares in Ocean Rig ASA.
As of July 10th, 2008 Primelead Limited controls 163,611,380 shares,
equivalent to 100% of the shares and votes in Ocean Rig ASA, calculated
based on an issued share capital of 170,374,980 shares less 6,763,600
treasury shares, which have been cancelled and will be deleted on or about
the third quarter of 2008.
DryShips Inc.
DryShips Inc., based in Greece, is an owner and operator of drybulk
carriers that operate worldwide. As of the day of this release, DryShips
owns a fleet of 47 drybulk carriers comprising 6 Capesize, 29 Panamax, 2
Supramax, 10 newbuilding drybulk vessels, with a combined deadweight
tonnage of over 4 million tons.
DryShips Inc.'s common stock is listed on the NASDAQ Global Market where it
trades under the symbol "DRYS."
Visit our website at www.dryships.com
Forward-Looking Statements
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 charterhire 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 US Securities and Exchange Commission.