Castor Maritime Inc. Announces the Date of its 2024 Annual General Meeting of Shareholders

Rhea-AI Summary

Castor Maritime Inc. (NASDAQ: CTRM) has announced the date for its 2024 Annual General Meeting of Shareholders. The meeting is scheduled for September 6, 2024, at 6:00 p.m. local time in Limassol, Cyprus. The company has set July 8, 2024 as the record date for determining shareholders eligible to receive notice and vote at the meeting. Proxy materials will be mailed around August 6, 2024, and will be available on the SEC website and Castor's website.

Castor Maritime is an international shipping company with a fleet of 10 vessels, including Kamsarmax, Panamax dry bulk, and containership vessels. The company recently announced an agreement to acquire a 2015-built Ultramax vessel, expected to be delivered in Q3 2024.

Positive

• Acquisition of a 2015-built Ultramax vessel, expanding the fleet
• Diverse fleet of 10 vessels with 0.7 million dwt aggregate capacity

Negative

• None.

LIMASSOL, Cyprus, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announced today that its Board of Directors (the "Board") has scheduled the Company’s 2024 Annual General Meeting of Shareholders (the "Meeting") to be held on September 6, 2024, at 6:00 p.m., local time, at 223 Christodoulou Chatzipavlou Street, Hawaii Royal Gardens, 3036 Limassol, Cyprus. The Board has fixed a record date of July 8, 2024 (the "Record Date") for the determination of the shareholders entitled to receive notice of and to vote at the Meeting or any adjournment thereof.

The Company’s Notice of the Meeting and Proxy Statement will be mailed on or around August 6, 2024, to shareholders of record as of the Record Date and will be furnished to the Securities and Exchange Commission (the "Commission") and available on the Commission's website at www.sec.gov. The proxy material will also be available on the Company’s website at www.castormaritime.com.

About Castor Maritime Inc.

Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.

Castor currently owns a fleet of 10 vessels with an aggregate capacity of 0.7 million dwt, consisting of three Kamsarmax vessels, five Panamax dry bulk vessels, and two 2,700 TEU containership vessels. On July 25, 2024, the Company announced that on July 16, 2024, it entered, through a separate wholly-owned subsidiary, into an agreement to acquire a 2015-built Ultramax vessel, which is expected to be delivered during the third quarter of 2024, subject to the satisfaction of certain customary closing conditions.

For more information please visit the Company’s website at www.castormaritime.com. Information on our website does not constitute a part of this press release.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 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. We are including this cautionary statement in connection with this safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “project”, “plan”, “potential”, “will”, “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, our management’s examination of current or historical operating trends, data contained in our records and other data available from third parties. Although we believe 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 our control, we cannot assure you that we will achieve or accomplish these forward-looking statements, including these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward‐looking statements include generally: the effects of the spin-off of our tanker business, our business strategy, expected capital spending and other plans and objectives for future operations, dry bulk and containership market conditions and trends, including volatility in charter rates (particularly for vessels employed in short-term time charters or index linked period time charters), factors affecting supply and demand, fluctuating vessel values, opportunities for the profitable operations of dry bulk and container vessels and the strength of world economies, changes in the size and composition of our fleet, our ability to realize the expected benefits from our past or future vessel acquisitions, our ability to realize the expected benefits of vessel acquisitions, increased transactions costs and other adverse effects (such as lost profit) due to any failure to consummate any sale of our vessels, our relationships with our current and future service providers and customers, including the ongoing performance of their obligations, dependence on their expertise, compliance with applicable laws, and any impacts on our reputation due to our association with them, our ability to borrow under existing or future debt agreements or to refinance our debt on favorable terms and our ability to comply with the covenants contained therein, in particular due to economic, financial or operational reasons, our continued ability to enter into time or voyage charters with existing and new customers and to re-charter our vessels upon the expiry of the existing charters, changes in our operating and capitalized expenses, including bunker prices, dry-docking, insurance costs, costs associated with regulatory compliance, and costs associated with climate change, our ability to fund future capital expenditures and investments in the acquisition and refurbishment of our vessels (including the amount and nature thereof and the timing of completion thereof, the delivery and commencement of operations dates, expected downtime and lost revenue), instances of off-hire, due to vessel upgrades and repairs, fluctuations in interest rates and currencies, including the value of the U.S. dollar relative to other currencies, any malfunction or disruption of information technology systems and networks that our operations rely on or any impact of a possible cybersecurity breach, existing or future disputes, proceedings or litigation, future sales of our securities in the public market and our ability to maintain compliance with applicable listing standards, volatility in our share price, including due to high volume transactions in our shares by retail investors, potential conflicts of interest involving affiliated entities and/or members of our board of directors, senior management and certain of our service providers that are related parties, general domestic and international political conditions or events, including armed conflicts such as the war in Ukraine and the conflict in the Middle East, acts of piracy or maritime aggression, such as recent maritime incidents involving vessels in and around the Red Sea, sanctions, “trade wars”, global public health threats and major outbreaks of disease, changes in seaborne and other transportation, including due to the maritime incidents in and around the Red Sea, fluctuating demand for dry bulk and container vessels and/or disruption of shipping routes due to accidents, political events, international sanctions, international hostilities and instability, piracy or acts of terrorism, changes in governmental rules and regulations or actions taken by regulatory authorities, including changes to environmental regulations applicable to the shipping industry, accidents, the impact of adverse weather and natural disasters and any other factors described in our filings with the SEC. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication, except to the extent required by applicable law. New factors emerge from time to time, and it is not possible for us to predict all or any of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these foregoing and other risks and uncertainties. These factors and the other risk factors described in this press release are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Given these uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.

CONTACT DETAILS

For further information please contact:

Petros Panagiotidis
Castor Maritime Inc.
Email: ir@castormaritime.com 

Media Contact:
Kevin Karlis
Capital Link
Email: castormaritime@capitallink.com 

FAQ

When is Castor Maritime's (CTRM) 2024 Annual General Meeting of Shareholders?

Castor Maritime's (CTRM) 2024 Annual General Meeting of Shareholders is scheduled for September 6, 2024, at 6:00 p.m. local time in Limassol, Cyprus.

What is the record date for Castor Maritime's (CTRM) 2024 Annual General Meeting?

The record date for Castor Maritime's (CTRM) 2024 Annual General Meeting is July 8, 2024. Shareholders of record as of this date are entitled to receive notice and vote at the meeting.

How many vessels does Castor Maritime (CTRM) currently own?

Castor Maritime (CTRM) currently owns a fleet of 10 vessels with an aggregate capacity of 0.7 million dwt, consisting of three Kamsarmax vessels, five Panamax dry bulk vessels, and two 2,700 TEU containership vessels.

What recent acquisition has Castor Maritime (CTRM) announced?

On July 25, 2024, Castor Maritime (CTRM) announced an agreement to acquire a 2015-built Ultramax vessel, expected to be delivered during the third quarter of 2024, subject to certain closing conditions.