UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2009
Commission File Number: 001-32520
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ARIES MARITIME TRANSPORT LIMITED
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(Translation of registrant's name into English)
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18 Zerva Nap. Str.
166 75 Glyfada
Athens, Greece
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(Address of principal executive office)
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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___
Note
: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)7: ___
Note
: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 1 to this report on Form 6-K is a press release dated September 22, 2009 of
Aries Maritime Transport Limited
announcing
that on September 16, 2009 the company
received written notification from The Nasdaq Stock Market, LLC ("NASDAQ") indicating that because the closing bid price of the Company's common stock for the previous 30 consecutive business days was below the minimum $1.00 per share bid price requirement for continued listing on The Nasdaq Global Market, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1).
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Exhibit 1
Company Contact:
Ioannis Makris
Chief Financial Officer
Aries Maritime Transport Limited
(011) 30 210 8983787
Aries Maritime Transport Limited Receives Nasdaq Notification Letter
Regarding Minimum Bid Price Rule
ATHENS, GREECE, September 22, 2009 – Aries Maritime Transport Limited (NASDAQ: RAMS) (the "Company") announced today that on September 16, 2009 the company received written notification from The Nasdaq Stock Market, LLC ("NASDAQ") indicating that because the closing bid price of the Company's common stock for the previous 30 consecutive
business days was below the minimum $1.00 per share bid price requirement for continued listing on The Nasdaq Global Market, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1).
Aries Maritime common stock will continue to be listed and traded on The Nasdaq Global Market during the applicable grace period. During the next 180 calendar days, the Company may regain compliance with the minimum bid price requirement by maintaining a closing bid price at or above $1.00 per share for at least ten consecutive business
days pursuant to Listing Rule 5810(c)(3)(A). Beyond this 180-day period ending March 15, 2010, the Company may also be eligible for an additional grace period provided it demonstrates compliance with all the initial standards for listing on The Nasdaq Capital Market as set forth in Listing Rule 5505, with the exception of the minimum bid price.
The Company continues to monitor its closing bid price and is considering its options in order to regain compliance with the bid price requirement.
About Aries Maritime Transport Limited
Aries Maritime Transport Limited is an international shipping company that owns and operates products tankers and container vessels. The Company's products tanker fleet consists of five MR tankers and four Panamax tankers, all of which are double-hulled. The Company also owns a fleet of two container vessels in capacity of 2,917 TEU each.
Three of the Company's 11 vessels are secured on period charters. Charters for two of the Company's products tanker vessels currently have profit-sharing components.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This press release includes assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as ''forward-looking statements.'' We caution that assumptions, expectations, projections, intentions and beliefs about future events may and often do vary from actual results
and the differences can be material. All statements in this document that are not statements of historical fact are forward-looking statements. Forward-looking statements include, but are not limited to, such matters as future operating or financial results; statements about
planned, pending or recent acquisitions, business strategy, future dividend payments and expected capital spending or operating expenses, including drydocking and insurance costs; statements about trends in the container vessel and products tanker shipping markets, including charter rates and factors affecting supply and demand; our ability
to obtain additional financing; expectations regarding the availability of vessel acquisitions; and anticipated developments with respect to pending litigation. The forward-looking statements in this press 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 Aries Maritime Transport
Limited 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, Aries Maritime Transport Limited cannot assure you that it will achieve or accomplish these expectations, beliefs or projections described in the forward looking statements contained in this press release. 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 rates and vessel values, failure of a seller to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, inability to procure acquisition financing, inability to complete the transaction with Grandunion Inc., default by one or more charterers of our ships, changes in demand for oil and oil products, the effect of
changes in OPEC's petroleum production levels, worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers, scheduled and unscheduled drydocking, changes in Aries Maritime Transport Limited's voyage and operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations 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, international hostilities and political events or acts by terrorists and other factors discussed in Aries Maritime Transport Limited's filings with the U.S. Securities and Exchange Commission from time to time. When used in this document, the words ''anticipate,'' ''estimate,'' ''project,'' ''forecast,'' ''plan,'' ''potential,'' ''may,'' ''should,'' and ''expect'' reflect forward-looking statements.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ARIES MARITIME TRANSPORT LIMITED
(registrant)
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Dated: September 23, 2009
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By:
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/s/ Ioannis Makris
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Ioannis Makris
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Chief Financial Officer
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SK 23248 0002 1032119
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