Seanergy Maritime Holdings Corp. Granted Extension to Regain Compliance With NASDAQ Listing Rule 5550(b)(1)
August 13 2013 - 8:30AM
Marketwired
Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP)
announced today that it has received a notice from the Nasdaq
Capital Market ("NASDAQ" or the "Capital Market"), dated August 7,
2013, granting the Company an extension of time until October 28,
2013 to regain compliance with the NASDAQ Listing Rule 5550(b)(1).
Under the terms of the extension, on or before October 28, 2013,
the Company must furnish to the Securities and Exchange Commission
and NASDAQ a publicly available filing that, among other things,
evidences compliance with the minimum $2.5 million stockholders'
equity requirement. In the event the Company does not satisfy the
terms of the extension, the Company expects to be notified that its
securities will be subject to delisting. At that time, the Company
may appeal NASDAQ's determination to a Hearings Panel.
The Company is working on implementing a plan that it will
enable to regain compliance with the NASDAQ Listing Rule 5550(b)(1)
by October 28, 2013.
This notification has no effect on the listing status of the
Company's common stock at this time.
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is a Marshall Islands corporation
with its executive offices in Athens, Greece. The Company is
engaged in the transportation of dry bulk cargoes through the
ownership and operation of dry bulk carriers.
As of today, the Company's fleet consists of four dry bulk
carriers (two Panamax and two Supramax vessels) with a total
carrying capacity of approximately 255,109 dwt and an average fleet
age of 12.4 years.
The Company's common stock trades on the Nasdaq Capital Market
under the symbol "SHIP."
Forward-Looking Statements 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 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, the scope and timing of
Securities and Exchange Commission ("SEC") and other regulatory
agency review, competitive factors in the market in which the
Company operates; risks associated with operations outside the
United States; and other factors listed from time to time in the
Company's filings with the SEC. The Company's filings can be
obtained free of charge on the SEC's website at www.sec.gov. 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.
For further information please contact: Investor Relations /
Media Capital Link, Inc. Paul Lampoutis 230 Park Avenue Suite
1536 New York, NY 10169 Tel: (212) 661-7566 E-mail:
seanergy@capitallink.com
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