Euroseas Ltd. Announces the Results of Its 2016 Annual General Meeting of Shareholders

MAROUSSI, ATHENS, GREECE--(Marketwired - Jun 27, 2016) - Euroseas Ltd. (NASDAQ: ESEA) (the "Company"), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, today announced the official results of its 2016 Annual General Meeting, held on June 24, 2016 at 10:30 a.m. local time in New York, NY USA. The following proposals were approved by the Company's shareholders:

1. Mr. Apostolos Tamvakakis and Mr. George Taniskidis were re-elected as Class C Directors to serve for a term of three years until the 2019 Annual Meeting of Shareholders ("Proposal One");

2. An amendment to the Company's Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's issued and outstanding shares of common stock by a ratio of between one-for-two and one-for-ten, inclusive, to be determined by the Company's Board of Directors in its discretion, and to authorize the Company's Board of Directors to implement the reverse stock split at any time prior to the Company's 2017 Annual Meeting of Shareholders by filing such amendment with the Registrar of Corporations of the Republic of the Marshall Islands ("Proposal Two"); and

3. Deloitte Hadjipavlou, Sofianos & Cambanis S.A. was approved as the Company's independent auditors for the fiscal year ending December 31, 2016 ("Proposal Three").

About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the Nasdaq Capital Market under the ticker symbol ESEA.

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