Diana Containerships Inc. Announces Receipt of Nasdaq Notice
August 02 2017 - 07:50AM
Diana Containerships Inc. (NASDAQ:DCIX), (the “Company”), a global
shipping company specializing in the ownership of containerships,
today announced that it has received written notification from The
Nasdaq Stock Market LLC (“Nasdaq”) dated July 31, 2017, indicating
that the Company is no longer in compliance with the continued
listing requirement under Nasdaq Listing Rule 5450(b)(1)(C) because
the market value of publicly held shares (“MVPHS”) was below
$5,000,000 for 30 consecutive business days. Under Nasdaq rules,
publicly held shares is defined as total shares outstanding, less
any shares held directly or indirectly by officers, directors or
any person who is the beneficial owner of more than 10% of the
total shares outstanding of the Company.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the
applicable grace period to regain compliance is 180 calendar days,
or until January 29, 2018. The Company can cure this deficiency if
the Company’s MVPHS closes at $5,000,000 or more for at least ten
consecutive business days during the grace period.
The Company intends to monitor its MVPHS during the
prescribed grace period and is considering all options that will
allow its common shares to remain listed on Nasdaq. During this
time, the Company’s common shares will continue to be listed and
trade on The Nasdaq Global Select Market. The Company’s business
operations are not affected by the receipt of the notification.
About the Company
Diana Containerships Inc. is a global provider of
shipping transportation services through its ownership of
containerships. The Company’s vessels are employed primarily on
time charters with leading liner companies carrying containerized
cargo along worldwide shipping routes.
Cautionary Statement Regarding
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995 and is including this cautionary statement in connection
with this safe harbor legislation. The words "believe,"
"anticipate," "intends," "estimate," "forecast," "project," "plan,"
"potential," "may," "should," "expect," "pending" and similar
expressions identify forward-looking statements.
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, our management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe 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, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections.
In addition to these important factors, other
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 fluctuations in charter rates
and vessel values, changes in demand for containership capacity,
changes in our operating expenses, including bunker prices,
drydocking and insurance costs, the market for our vessels,
availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general
domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hires and other factors.
Please see our filings with the Securities and Exchange Commission
for a more complete discussion of these and other risks and
uncertainties.
Corporate Contact:
Ioannis Zafirakis
Director, Chief Operating Officer and Secretary
Telephone: +30-216-600-2400
Email: izafirakis@dcontainerships.com
Website: www.dcontainerships.com
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: +1-203-972-8350
Email: enebb@optonline.net
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