Globus Maritime Limited Announces Reverse Stock split
October 08 2018 - 4:10PM
Globus Maritime Limited ("Globus" or the “Company,") (NASDAQ:
GLBS), a dry bulk shipping company, announced today that its Board
of Directors (the “Board”) has determined to effect a 1-for-10
reverse stock split of the Company’s common shares. At the
Company’s annual general meeting of shareholders on September 18,
2018, the Company’s shareholders approved the reverse stock split
and granted the Board the authority to determine the exact reverse
split ratio and proceed with the reverse stock split.
The reverse stock split will take effect, and
the Company’s common stock will begin trading on a split-adjusted
basis on the Nasdaq Capital Market, as of the opening of trading on
October 15, 2018 under the existing trading symbol “GLBS.” The new
CUSIP number for the common stock following the reverse stock split
is Y27265 407.
When the reverse stock split becomes effective,
every ten shares of the Company’s issued and outstanding common
stock will be automatically combined into one issued and
outstanding share of common stock, with no adjustment in par value
or the number of authorized shares. This will reduce the
number of outstanding common shares from 32,065,077 to
approximately 3,206,507 shares (subject to further adjustment based
on fractional shares).
No fractional shares will be issued in
connection with the reverse split of the issued and outstanding
common stock. Shareholders who would otherwise hold a
fractional share of the Company’s common stock will receive a cash
payment in lieu thereof at a price equal to that fraction to which
the shareholder would otherwise be entitled multiplied by the
closing price of the Company’s common stock on the Nasdaq Capital
Market on October 12, 2018.
Shareholders with shares held in book entry form
or through a bank, broker, or other nominee are not required to
take any action and will see the impact of the reverse stock split
reflected in their accounts on or after October 15, 2018.
Such beneficial holders may contact their bank, broker or nominee
for more information.
Shareholders with shares held in certificated
form, if any, will receive explicit instructions from the Company’s
transfer agent, Computershare LLC, for exchanging their stock
certificates for new shares of common stock resulting from the
reverse split.
For further information about the reverse stock
split please look into Company’s proxy statement furnished to
the Securities and Exchange Commission on August 2, 2018, a copy of
which is available on the Commission’s website at www.sec.gov., and
also on Company’s website at www.globusmaritime.gr.
About Globus Maritime
LimitedGlobus is an integrated dry bulk shipping company
that provides marine transportation services worldwide and
presently owns, operates and manages a fleet of five dry bulk
vessels that transport iron ore, coal, grain, steel products,
cement, alumina and other dry bulk cargoes internationally. Globus’
subsidiaries own and operate five vessels with a total carrying
capacity of 300,571 Dwt and a weighted average age of 10.3 years as
of June 30, 2018.
Safe Harbor StatementThis
communication contains “forward-looking statements” as defined
under U.S. federal securities laws. Forward-looking statements
provide the Company’s current expectations or forecasts of future
events. Forward-looking statements include statements about the
Company’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. 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. The Company’s actual results could
differ materially from those anticipated in forward-looking
statements for many reasons specifically as described in the
Company’s filings with the Securities and Exchange Commission.
Accordingly, you should not unduly rely on these forward-looking
statements, which speak only as of the date of this communication.
Globus 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 describes in the reports it will file from time to
time with the Securities and Exchange Commission after the date of
this communication.
For further information please
contact:
Globus Maritime
Limited
+30 210 960 8300Athanasios Feidakis,
CEO a.g.feidakis@globusmaritime.gr
Capital Link – New
York
+1 212 661 7566Nicolas
Bornozis globus@capitallink.com
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