Seanergy Maritime Holdings Corp. Granted Extension to Regain Compliance With
NASDAQ Listing Rule 5550(b)(1)
ATHENS, GREECE -- (Marketwired) -- 08/13/13 -- 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
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
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."
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.
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
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