Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq:
SBLK, Oslo: SBLK), refers to the press release of June 4, 2020
announcing the delisting of the Company’s common
shares from the Oslo Børs (“OSE”). The last day of
trading on the Oslo Børs will be July 31, 2020 and the
delisting will take effect as from August 3, 2020. The Company’s
common shares will continue to trade on the Nasdaq Global Select
Market (“Nasdaq”) under the symbol “SBLK”.
As a result of the delisting from OSE, the
Company will also terminate the registration of its common shares
with the Norwegian Central Securities Depository (“VPS”). The
termination will take effect following a transitional period, of
approximately nine months, from the time of delisting (the
“Transitional Period”). Star Bulk shareholders that currently
have their shares registered in the VPS, whether individuals,
entities, brokers or custodians, may elect to transfer their
shareholdings to the United States prior to the expiration of the
Transitional Period, to facilitate trading on Nasdaq. Such
shareholdings may be held through a U.S. broker dealer or
recorded directly in the shareholder’s name on the Company’s share
register maintained by the Company’s transfer agent, American Stock
Transfer and Trust Company (“AST”). In order to complete this
transfer, shareholders should contact their broker or custodian
directly.
Any Star Bulk shareholders who still have shares
registered in the VPS, as of 3 August 2020, will receive a letter
with further information on the deregistration of the Company’s
shares from the VPS.
Shares that have not been transferred (as
described above) prior to the expiration of the Transitional
Period, will be automatically removed from the VPS, on or about
April 30, 2021, and be recorded in book entry form directly in
the shareholder’s name (as per the VPS listed information) on
the Company’s share register maintained by AST. A statement,
relating to each such shareholder’s account, will be generated and
mailed by AST. Additional information may be required from AST.
All shareholders currently holding the Company’s
shares through the VPS are encouraged to contact their broker or
custodian to transfer their common shares, to be held through a
U.S. broker dealer or AST, as soon as possible and prior to the
expiration of the Transitional Period and the termination of the
Company’s VPS register.
About Star Bulk
Star Bulk is a global shipping company providing
worldwide seaborne transportation solutions in the dry bulk sector.
Star Bulk’s vessels transport major bulks, which include iron ore,
coal and grain, and minor bulks, which include bauxite, fertilizers
and steel products. Star Bulk was incorporated in the Marshall
Islands on December 13, 2006 and maintains executive offices in
Athens, Oslo, New York, Cyprus and Singapore. Its common stock
trades on the Nasdaq Global Select Market and Oslo Stock Exchange
(until July 31st, 2020) under the symbol “SBLK”. Star Bulk operates
a fleet of 116 vessels, with an aggregate capacity of 12.9 million
dwt, consisting of 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7
Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax and 17 Supramax
vessels with carrying capacities between 52,425 dwt and 209,537
dwt.
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, examination by the Company’s management of historical
operating trends, data contained in its records and other data
available from third parties. Although the Company believes 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 the Company’s control, the Company cannot assure you that it
will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other
important factors that, in the Company’s view, could cause actual
results to differ materially from those discussed in the
forward-looking statements include general dry bulk shipping market
conditions, including fluctuations in charterhire rates and vessel
values; the strength of world economies; the stability of Europe
and the Euro; fluctuations in interest rates and foreign exchange
rates; changes in demand in the dry bulk shipping industry,
including the market for our vessels; changes in our operating
expenses, including bunker prices, dry docking and insurance costs;
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; the availability of financing and
refinancing; our ability to meet requirements for additional
capital and financing to complete our newbuilding program and grow
our business; the impact of the level of our indebtedness and the
restrictions in our debt agreements; vessel breakdowns and
instances of off‐hire; risks associated with vessel construction;
potential exposure or loss from investment in derivative
instruments; potential conflicts of interest involving our Chief
Executive Officer, his family and other members of our senior
management and our ability to complete acquisition transactions as
planned. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties. The information set forth herein speaks only as
of the date hereof, and the Company disclaims any intention or
obligation to update any forward‐looking statements as a result of
developments occurring after the date of this communication.
Contacts
Company:Simos Spyrou, Christos
BeglerisCo ‐ Chief Financial Officers Star Bulk Carriers Corp.c/o
Star Bulk Management Inc.40 Ag. Konstantinou Av.Maroussi
15124Athens, GreeceEmail: info@starbulk.comwww.starbulk.com
Investor Relations / Financial Media:Nicolas
BornozisPresidentCapital Link, Inc.230 Park Avenue, Suite 1536New
York, NY 10169Tel. (212) 661‐7566E‐mail:
starbulk@capitallink.comwww.capitallink.com
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