Appointment of Director and Posting of AGM Notice
July 02 2010 - 6:21AM
UK Regulatory
TIDMGLBS
RNS Number : 7313O
Globus Maritime Ltd
02 July 2010
Appointment of Director and Posting of the Notice of Annual General Meeting
Athens, Greece, July 2, 2010. Globus Maritime Ltd ("Globus" or the "Company")
(AIM: GLBS) is pleased to make the following announcements:
Appointment of Jeffrey Owen Parry as a non-executive director
The Company is pleased to announce the appointment of Jeffery Owen Parry as a
non-executive director with immediate effect.
Mr. Parry has 26 years experience in the shipping sector. He is currently
President of Mystic Marine Advisors LLC, a Connecticut-based advisory firm
specializing in turnaround and emerging shipping companies. Formerly, he was CEO
of NASDAQ-listed Aries Maritime Transport Limited (now NewLead Holdings Ltd.),
where he led the turnaround and sale of the company. Mr. Parry has also served
as the Managing Director of A.G. Pappadakis & Co. Ltd, an Athens-based
shipowner, and Managing Director of Poten Capital Services LLC, a U.S.
broker/dealer firm specializing in shipping, member of FINRA/SIPC. Mr. Parry
holds a BA from Brown University and an MBA from Columbia University. He started
his career as a stevedore on the New York waterfront.
Mr. George Feidakis, Chairman of Globus, commented: "All of us welcome Jeff
Parry to the Company's Board of Directors. We are confident that his expertise
and counsel will be valuable assets as we continue to grow our Company."
Jeff Parry fills the seat made vacant by the resignation of Mr. Arjun Batra
who had been a director of Globus since May 2007. Mr. Feidakis commented: "Arjun
Batra played an important role in the development and success of Globus and we
thank him for his years of good service."
Mr. Parry does not currently hold any shares in the Company.
Save as disclosed herein there are no additional disclosures to be made in
accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM rules for
Jeffrey Parry.
Posting of the Notice of AGM
The Company has today posted a circular to its shareholders containing a notice
of the Annual General Meeting of the Company ("AGM") together with a form of
proxy and a CD-Rom containing the 2009 Annual Report and Accounts and new
articles of incorporation and by-laws proposed to be adopted by the Company if
the Board determines to seek a listing on a Stock Exchange in the United States.
The AGM will be held on July 28, 2010 at 12:00 BST or 14:00 local Greek time at
the offices of Globus Shipmanagement Corp., the Company's wholly-owned
subsidiary, 3rd Floor, 128 Vouliagmenis Avenue, Glyfada, Athens 16674 Greece.
The full notice of AGM contained in the circular, together with the 2009 Annual
Report and Accounts, is available to be downloaded from the Company's website
www.globusmaritime.gr.
A brief description of the resolutions to be proposed at the AGM is set out
below. Resolutions 1 to 6 (inclusive) comprise the ordinary business of the
meeting and will be proposed as ordinary resolutions of the Company, and
resolutions 7 to 11 (inclusive) are to be dealt with as special business and
will be proposed as special resolutions of the Company.
· Resolution 1: Approval of Annual Report and Accounts for the period
ended 31 December 2009
· Resolutions 2, 3 and 4: Reappointment of Directors
· Resolutions 5 and 6: Reappointment and remuneration of Auditors
· Resolution 7: Removal of pre-emption rights
· Resolution 8: Reduction in the notice period for general meetings
· Resolutions 9, 10 and 11: Preparation for a possible listing on a
Stock Exchange in the United States
Resolutions 9, 10 and 11 seek approval for certain matters which the Company
would be required to undertake, were it to seek a listing on a US Stock
Exchange. In this regard, the Company announces that, with a view to maximising
shareholder value, it is exploring alternatives to its current Stock Exchange
listing.
Possible delisting from AIM and listing on a Stock Exchange in the United States
The Board of Directors of the Company (the "Board") has noted that the Company's
shares have been consistently trading at a substantial discount to its net asset
value, which is a hindrance to the Company's plans for growth. Accordingly, with
a view to maximizing Shareholder value, the Board has considered whether the
Company should maintain its listing on AIM or seek a listing on another Stock
Exchange.
Although no final decision has been made in this regard, following discussions
with the Company's advisers, the Board believes that it may be in the interests
of the Company and its shareholders as a whole for it to seek a listing on a
Stock Exchange in the United States in the near future. Were the Company to
achieve such a listing, it would seek to delist its shares from AIM as soon as
reasonably practicable so as to avoid the unnecessary expense of maintaining
dual listings. The Board is therefore planning to seek shareholder approval at
the AGM in respect of certain matters to facilitate such a listing in a timely
manner should it choose to proceed with it. Further details are set out in the
Circular.
For further information, please contact:
Globus Maritime Limited +30 210 960 8300
George Karageorgiou, CEO info@globusmaritime.gr
Jefferies International Limited +44 (0) 20 7029 8000
Oliver Griffiths
Anne Dovigen
Capital Link - London +44 (0) 20 3206 1322 /
globus@capitallink.com
Annie Evangeli
Capital Link - New York +1 212 661 7566 /
globus@capitallink.com
Ramnique Grewal
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 owns and operates one Panamax, one
Kamsarmax, and three Supramax vessels, with a weighted average age of 3.4 years
as at June 30, 2010, and a total carrying capacity of 319,952 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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