Oceanaut, Inc. Cancels Shareholder Meeting
October 08 2008 - 4:05PM
Marketwired
Oceanaut, Inc. (AMEX: OKN) (AMEX: OKN.U) (AMEX: OKN.WS) the
("Company" or "Oceanaut") today announced that the Company has
issued a notice to its shareholders announcing that, in light of
current market conditions, the Company has cancelled the special
shareholder meeting scheduled for October 15, 2008. The Company
will advise its shareholders of the new meeting date if and when it
is rescheduled. The Company is also in the process of discussing
whether the terms of each of the four Memoranda of Agreement, dated
August 20, 2008, as amended on September 5, 2008, for the purchase
of a dry bulk carrier vessel, will be extended or restructured, and
will advise investors accordingly.
About Oceanaut, Inc.
Oceanaut, Inc. (AMEX: OKN) (AMEX: OKN.U) (AMEX: OKN.WS) is a
blank check company formed for the purpose of acquiring, through a
merger, capital stock exchange, asset acquisition, stock purchase
or other similar business combination, vessels or one or more
operating businesses in the shipping industry.
Forward-Looking Statement
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth strategy and
measures to implement such strategy. Words such as "expects,"
"intends," "plans," "believes," "anticipates," "hopes,"
"estimates," and variations of such words and similar expressions
are intended to identify forward-looking statements. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct. These
statements involve known and unknown risks and are based upon a
number of assumptions and estimates, which are inherently subject
to significant uncertainties and contingencies, many of which are
beyond the control of the Company. Actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to, future operating or
financial results; expectations regarding the strength of the
future growth of the shipping industry, including the rate of
annual demand in the dry bulk sector; future payments of dividends
and the availability of cash for payment of dividends; the
Company's expectations relating to dividend payments and forecasts
of its ability to make such payments; future acquisitions, business
strategy and expected capital spending; general market conditions
and shipping industry trends, including charter rates and factors
affecting supply and demand; the Company's ability to enter into
long-term, fixed-rate charters; general competitive factors in the
dry bulk market; risks associated with operations outside the
United States; and other factors listed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Contact: Investor Relations/ Financial Media: Capital Link, Inc.
Nicolas Bornozis President 230 Park Avenue Suite 1536 New York, NY
10169 Tel. +1 (212) 661-7566 E-mail: nbornozis@capitallink.com
www.capitallink.com Company: Oceanaut, Inc. Lefteris Papatrifon
Chief Financial Officer 17th km National Road Athens-Lamia &
Finikos Street 145 64 Nea Kifisia Athens, Greece Tel: +30 (210)
6209-520 Fax: +30 (210) 6209-528 E-Mail: info@oceanautinc.com
www.oceanautinc.com
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