Seanergy Maritime Issues Statement on Court’s Dismissal of Economou’s Litigation
Seanergy Maritime Holdings (NASDAQ: SHIP) announced that the High Court of the Republic of the Marshall Islands has dismissed the litigation brought by Economou's Sphinx Investment Corp. The litigation included a motion for a temporary restraining order aimed at delaying the Company's 2024 Annual Meeting of Shareholders scheduled for November 4, 2024. The Board recommends shareholders vote on the WHITE proxy card 'FOR' Seanergy's nominees and 'AGAINST' Economou's proposals. Shareholders of record as of September 19, 2024, are eligible to vote. The company currently operates a fleet of 19 vessels with approximately 3,417,608 dwt cargo capacity.
Seanergy Maritime Holdings (NASDAQ: SHIP) ha annunciato che l'Alta Corte della Repubblica delle Isole Marshall ha rigettato la causa intentata da Sphinx Investment Corp di Economou. La causa includeva una richiesta di ingiunzione temporanea per ritardare l'Assemblea Annuale degli Azionisti della Società, prevista per il 4 novembre 2024. Il Consiglio raccomanda agli azionisti di votare sulla scheda bianca 'A FAVORE' dei candidati di Seanergy e 'CONTRO' le proposte di Economou. Gli azionisti iscritti al 19 settembre 2024 hanno diritto di voto. Attualmente, l'azienda gestisce una flotta di 19 navi con una capacità di carico di circa 3.417.608 dwt.
Seanergy Maritime Holdings (NASDAQ: SHIP) anunció que la Alta Corte de la República de las Islas Marshall desestimó la demanda presentada por Sphinx Investment Corp de Economou. La demanda incluía una moción para una orden de restricción temporal destinada a retrasar la Junta Anual de Accionistas de la Compañía programada para el 4 de noviembre de 2024. La Junta recomienda a los accionistas votar en la tarjeta de poder BLANCA 'A FAVOR' de los nominados de Seanergy y 'EN CONTRA' de las propuestas de Economou. Los accionistas registrados a partir del 19 de septiembre de 2024 son elegibles para votar. La empresa opera actualmente una flota de 19 buques con una capacidad de carga de aproximadamente 3.417.608 dwt.
Seanergy Maritime Holdings (NASDAQ: SHIP)는 마셜 제도 고등법원이 Economou의 Sphinx Investment Corp에서 제기한 소송을 기각했다고 발표했습니다. 이 소송에는 2024년 11월 4일로 예정된 회사의 연례 주주총회를 지연시키기 위한 임시 금지 명령 요청이 포함되어 있었습니다. 이사회는 주주가 Seanergy의 후보자에게 '찬성'하고 Economou의 제안에 '반대'하는 화이트 프록시 카드에 투표할 것을 권장합니다. 2024년 9월 19일 기준으로 주주로 등록된 자는 투표 자격이 있습니다. 현재 이 회사는 약 3,417,608 dwt의 화물 용량을 가진 19척의 선박을 운영하고 있습니다.
Seanergy Maritime Holdings (NASDAQ: SHIP) a annoncé que la Haute Cour de la République des Îles Marshall a rejeté le litige intenté par Sphinx Investment Corp d'Economou. Le litige comprenait une demande d'ordonnance de restriction temporaire visant à retarder l'Assemblée Générale Annuelle des Actionnaires de la Société prévue pour le 4 novembre 2024. Le Conseil recommande aux actionnaires de voter sur la carte de procuration BLANCHE 'POUR' les candidats de Seanergy et 'CONTRE' les propositions d'Economou. Les actionnaires enregistrés au 19 septembre 2024 sont éligibles pour voter. L'entreprise exploite actuellement une flotte de 19 navires ayant une capacité de charge d'environ 3.417.608 dwt.
Seanergy Maritime Holdings (NASDAQ: SHIP) gab bekannt, dass das Hohe Gericht der Republik der Marshallinseln die Klage von Economous Sphinx Investment Corp abgewiesen hat. Die Klage umfasste einen Antrag auf eine vorübergehende einstweilige Verfügung, um die für den 4. November 2024 geplante Jahreshauptversammlung der Aktionäre des Unternehmens zu verschieben. Der Vorstand empfiehlt den Aktionären, mit der WEISSEN Vollmacht für die Nominierungen von Seanergy zu stimmen und gegen die Vorschläge von Economou zu stimmen. Aktionäre, die am 19. September 2024 im Register stehen, sind wahlberechtigt. Das Unternehmen betreibt derzeit eine Flotte von 19 Schiffen mit einer Ladekapazität von etwa 3.417.608 dwt.
- Court dismissal of litigation removes legal uncertainty
- Annual meeting to proceed as scheduled without delays
- Fleet consists of 19 modern vessels with 3.4M dwt capacity
- None.
Insights
The dismissal of Economou's litigation by the Marshall Islands High Court represents a significant corporate governance development for Seanergy Maritime. The court's decision allows the company to proceed with its scheduled 2024 Annual Meeting without interference, effectively neutralizing attempts to delay shareholder proceedings. The dismissal strengthens the current board's position and their strategic direction.
The ruling has immediate implications for shareholder voting dynamics, particularly regarding the proxy contest. The board's recommendation to vote using the WHITE proxy card against Economou's proposals now carries additional weight following this legal victory. This development helps maintain stability in corporate governance and reduces uncertainty about the company's immediate future direction.
ATHENS, Greece, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (“Seanergy” or the “Company”) (NASDAQ: SHIP) today issued the following statement regarding the decision by the High Court of the Republic of the Marshall Islands dismissing the litigation brought by Economou through his entity Sphinx Investment Corp., and with it Sphinx’s motion for a temporary restraining order which sought to delay the Company’s 2024 Annual Meeting of Shareholders (the “2024 Annual Meeting”).
The Company issued the following statement:
The Seanergy Board of Directors is pleased that the Court has dismissed the litigation that Economou brought against Seanergy and its Board members. We are moving forward with our regularly scheduled 2024 Annual Meeting.
The Company and our shareholders are benefitting from the strategic actions that the Board and management team are taking, and they are poised to continue to do so through the cycle and beyond.
Our Board strongly recommends that shareholders vote on the WHITE proxy card “FOR” Seanergy’s nominees and “AGAINST” Economou’s proposals.
Seanergy’s 2024 Annual Meeting remains scheduled for November 4, 2024. Shareholders of record as of the close of business on September 19, 2024, are entitled to vote. Additional information and resources for shareholders regarding Seanergy’s value creation strategy and how to vote at the 2024 Annual Meeting are available at www.VoteSeanergy.com.
| If you have any questions or require any assistance with voting your shares, please contact our proxy solicitor, MacKenzie Partners, at U.S. & Canada Toll-Free: +1-800-322-2885 Greece Toll-Free: +1-800-000-0260 Elsewhere Call Collect (Toll): +1-212-929-5500 Or Email: Seanergy@MacKenziePartners.com You may receive solicitation materials from Economou. The Board unanimously recommends shareholders disregard and do not return any proxy materials from Economou. |
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 19 vessels (1 Newcastlemax and 18 Capesize) with an average age of approximately 13.5 years and an aggregate cargo carrying capacity of approximately 3,417,608 dwt.
The Company is incorporated in the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “SHIP”.
Please visit our Company website at: www.seanergymaritime.com.
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, including with respect to upcoming annual meeting, the declaration of dividends, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. 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 Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between Israel and Hamas or Iran and between Russia and Ukraine; risks associated with the length and severity of pandemics (including COVID-19), including their effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, 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:
Investors
Seanergy Investor Relations
Tel: +30 213 0181 522
Email: ir@seanergy.gr
Capital Link, Inc. Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: +1 212-661-7566
Email: seanergy@capitallink.com
Media
Joele Frank, Wilkinson Brimmer Katcher
Aaron Palash / Maggie Carangelo / Spencer Hoffman
Tel: +1 212-355-4449
Email: Seanergy-Media@joelefrank.com
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