ATHENS, GREECE--(Marketwire - November 23, 2010) - Globus Maritime Limited ("Globus Maritime" or the "Company") (
The resale registration statement, once declared effective by the SEC, will allow the selling shareholders named in the registration statement to publicly resell their registered shares as described in the registration statement. The registration statement was filed on behalf of the named selling shareholders, and the Company will not receive any proceeds from the resale of the shares. Shareholders not named in such registration statement will be able to sell their shares publicly subject to compliance with Rule 144 under the Securities Act of 1933 and other applicable U.S. securities laws.
The Company also announces that it has been notified that its shares have been approved for listing on the NASDAQ Global Market upon notice of effectiveness of the Company's registration statement. The Company's shares will trade on NASDAQ under the ticker symbol "GLBS."
The expected effective date for the delisting of the shares on AIM will be 7:00 a.m. UK time on November 25, 2010. As previously announced, the trading in the shares of the Company on AIM will be suspended on the day preceding the day of cancellation of the AIM listing. The Company confirms that suspension of trading in the shares will be affected at 7:30 a.m. UK time on November 24, 2010. Consequently, the last day of trading of the Company's shares on the AIM is today, November 23, 2010.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the shares described above, nor shall there be any sale of such shares in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Safe Harbor Statement
This communication contains forward-looking statements. Forward-looking statements provide Globus Maritime's current expectations or forecasts of future events. Forward-looking statements include statements about Globus Maritime's expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "will" or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. These forward-looking statements are based on assumptions that may be incorrect, and Globus Maritime cannot assure you that these projections included in these forward-looking statements will come to pass. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors.
The risks and uncertainties include, but are not limited to:
- future operating or financial results;
- expectations regarding the strength of the future stabilization and growth of the shipping industry, including the rate of annual demand growth in the international dry bulk industry;
- future payments of dividends and the availability of cash for payment of dividends;
- Globus Maritime's expectations relating to dividend payments and forecasts of its ability to make such payments;
- future acquisitions, business strategy and expected capital spending;
- operating expenses, availability of crew, number of off-hire days, drydocking and survey requirements and insurance costs;
- general market conditions and shipping industry trends, including charter rates and factors affecting supply and demand;
- Globus Maritime's ability to repay its debt arrangements and grow using the available funds under its credit facility;
- assumptions regarding interest rates and inflation;
- change in the rate of growth of global and various regional economies;
- risks incidental to vessel operation, including discharge of pollutants and vessel collisions;
- Globus Maritime's financial condition and liquidity, including its ability to obtain additional financing in the future to fund capital expenditures, acquisitions and other general corporate activities;
- estimated future capital expenditures needed to preserve its capital base;
- Globus Maritime's expectations about the availability of vessels to purchase, the time that it may take to construct new vessels, or the useful lives of its vessels;
- Globus Maritime's continued ability to enter into charters;
- Globus Maritime's ability to capitalize on its management team's and board of directors' relationships and reputations in the shipping industry to its advantage;
- changes in governmental and classification societies' rules and regulations or actions taken by regulatory authorities;
- expectations about the availability of insurance on commercially reasonable terms;
- unanticipated changes in laws and regulations; and
- potential liability from future litigation.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Globus Maritime's actual results could differ materially from those anticipated in forward-looking statements for many reasons specifically as described in Globus Maritime's filings with regulatory authorities. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Globus Maritime undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated events. You should, however, review the factors and risks Globus Maritime describes in the reports it will file from time to time with regulatory authorities after the date of this communication.
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' subsidiaries own and operate three Supramax, one Panamax, and one Kamsarmax vessels, with a weighted average age of 3.7 years as at September 30, 2010, and a total carrying capacity of 319,913 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
Elias Deftereos
CFO
+30 210 960 8300
deftereos@globusmaritime.gr
Jefferies International Limited
Oliver Griffiths
+44 (0) 20 7029 8000
Capital Link -- London
Annie Evangeli
+44 (0) 20 3206 1322
globus@capitallink.com
Capital Link -- New York
Ramnique Grewal
+1 212 661 7566
globus@capitallink.com