TIDMGLBS
RNS Number : 6729W
Globus Maritime Ltd
23 November 2010
Globus Maritime Announces the Timetable for the Cancellation of
the AIM Listing
Athens, Greece, November 23, 2010. Globus Maritime Limited
("Globus" or the "Company"), (AIM: GLBS.L), a marine transportation
company with subsidiariesthat own and operate dry bulk vessels,
announces the timetable for the cancellation of trading of its
shares (GLBS.L) on AIM.
As announced earlier today, the Company has filed a resale
registration statement on Form F-1 with the U.S. Securities and
Exchange Commission ("SEC"). The Company also announced that its
common shares have been approved for listing on the NASDAQ Global
Market upon notice of effectiveness of the Company's registration
statement following the Company's redomiciliation into the Marshall
Islands. The Company's common shares will trade under the ticker
symbol "GLBS" (NASDAQ: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.
To effectuate the delisting of shares from AIM and the listing
on a U.S. stock exchange, the Company will instruct its current
registrar to transfer the Company's share register to its U.S.
counterpart, who will create the necessary accounts. Each record
holder will receive a statement after completion of these
transfers. Current share certificates will no longer represent
shares in the Company following the Company's redomiciliation into
the Marshall Islands. Shares of the Company after such time will be
recorded exclusively on the books of the transfer agent or
registrar for such shares.
The 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 a state or jurisdiction
in which such offer, solicitation or sale will 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.
- ENDS -
For further information please contact:
Globus Maritime Limited +30 210 960 8300
Elias Deftereos, CFO deftereos@globusmaritime.gr
Jefferies International Limited +44 (0) 20 7029 8000
Oliver Griffiths
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'
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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