Seanergy Maritime Holdings Corp. Announces Sale of Subsidiary

Seanergy Maritime Holdings Corp. Announces Sale of Subsidiary 
ATHENS, GREECE -- (Marketwire) -- 11/19/12 --  Seanergy Maritime
Holdings Corp. (the "Company") (NASDAQ: SHIP) announced today that it
has entered into a Share Purchase Agreement to sell the 100%
ownership interest in Bulk Energy Transport (Holdings) Limited
("BET") for a nominal cash consideration. The Buyer, I.M.I. Holdings
Corp., is an affiliate controlled by members of the Restis family,
the Company's major shareholders. The sale has been approved in
principle by the majority lenders of the BET syndicate and their
agreement is conditional on and subject to final documentation
satisfactory to them. 
On the date of the agreement BET owned a fleet of two Capesize dry
bulk carrier vessels with a cargo-carrying capacity of 313,061 dwt
and an average fleet age of approximately 19.3 years. 
The sale of the subisidiary which is expected to close in the 4th
quarter of 2012 is part of Seanergy's overall financial restructuring
plan. Following the completion of the sale, the overall indebtedness
of companies within the Seanergy group will be reduced by
approximately $46.7 million. 
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. 
Upon completion of the BET sale transaction, the Company's fleet will
consist of 13 dry-bulk carriers (two Panamax, two Supramax, and nine
Handysize vessels) with a total carrying capacity of approximately
499,070 dwt and an average fleet age of 13.3 years.  
The Company's common stock trades on the NASDAQ Global 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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