SOURCE: Nautilus Marine Acquisition Corp.

Nautilus Marine Acquisition Corp.

October 28, 2013 16:58 ET

Nautilus Announces Completion of Merger

ATHENS, GREECE--(Marketwired - Oct 28, 2013) -  Nautilus Marine Acquisition Corp. ("Nautilus") announced today the consummation of a short-form merger (the "Merger") pursuant to which Nautilus was merged into Nautilus Shareholdings Limited, a Marshall Islands corporation ("Nautilus Offshore"). Under the terms of the Merger, (i) all shares of common stock of Nautilus held by Nautilus Offshore were canceled and extinguished for no consideration and (ii) each share of common stock of Nautilus held by shareholders other than Nautilus Offshore were cancelled and converted into the right to receive cash in the amount of $10.25 per share. Nautilus will instruct its transfer agent to issue the merger consideration to the former shareholders of Nautilus. No action is required by such shareholders to receive the merger consideration.

The CUSIP number of the common stock of Nautilus is Y6255E101.

About Nautilus

Nautilus was formed in November 2010 pursuant to the laws of the Republic of the Marshall Islands for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction with one or more operating businesses or assets. On February 13, 2013, Nautilus acquired Assetplus Limited, a Cyprus limited liability holding company organized on August 10, 2012 for the purpose of aggregating under one holding company all time charter, vessel acquisition or other contracts awarded to its subsidiaries. Assetplus controls a fleet of vessels consisting of two platform supply vessels ("PSVs") and four oil spill response vessels ("OSRVs"), all of which are servicing offshore oil exploration and production installations. These vessels are on time charter contracts with Brazilian oil major Petróleo Brasileiro S.A. ("Petrobras") for four years plus an additional four optional years.

Contact Information

  • Company Contact:
    Prokopios "Akis" Tsirigakis
    Co-CEO
    Nautilus Marine Acquisition Corp.
    +30 216 200 2950

    Investor Relations:
    Matthew Abenante
    Capital Link
    +1 (212) 661 7566