Reverse Split Effective July 29, 2010


 

TIDMGLBS 
 
RNS Number : 1121Q 
Globus Maritime Ltd 
29 July 2010 
 

 
      Globus Maritime Ltd Announces Reverse Split Effective July 29, 2010 
 
Athens, Greece, July 29, 2010. Globus Maritime Ltd ("Globus" or the "Company") 
(AIM: GLBS) announces today that the previously announced 1-for-4 reverse stock 
split will take effect at the opening of trading in London on Thursday July 29, 
2010, with the Company's issued share capital being 7,240,852 shares of US$0.004 
each. 
The 1-for-4 reverse split was approved by the Company's shareholders at the 
Annual General Meeting held on July 28, 2010, together with all the special 
resolutions relating to the possible listing of the Company's shares on a U.S. 
Stock Exchange. Were the Company to achieve such a listing, it would seek to 
delist its shares from AIM as soon as reasonably practicable so as to avoid the 
unnecessary expense of maintaining dual listings. 
 
George Karageorgiou, Chief Executive Officer of Globus Maritime, stated: "We 
consolidated our shares in preparation of the possible listing on a U.S. Stock 
Exchange. We believe that listing Globus on an exchange in the United States may 
result in our shares trading at a more favourable price relative to their net 
asset value than has recently been the case. This belief is based on the 
performance of share prices of comparable companies currently trading on U.S. 
Stock Exchanges, which generally benefit from a larger universe of research 
analysts as well as a larger base of both institutional and individual 
investors. In addition, the Board believes that the Company would also be in a 
better position to raise funds for its future development." 
 
Shareholders who hold their shares in certificated form will receive a new 
certificate within 14 days of the Record Date. Old certificates are now invalid. 
Shareholders holding a number of shares that is not evenly divisible by the 
ratio of the reverse stock split will not receive a cash payment for any 
fractional shares. 
 
                                    - ENDS - 
 
For further information, please contact: 
 
Globus Maritime Limited             +30 210 960 8300 
Elias Deftereos, CFO                 deftereos@globusmaritime.gr 
 
Jefferies International Limited      +44 (0) 20 7029 8000 
Oliver Griffiths 
Anne Dovigen 
 
Capital Link - London                  +44 (0) 20 3206 1322 / 
globus@capitallink.com 
Annie Evangeli 
 
Capital Link - New York              +1 212 661 7566 / globus@capitallink.com 
Ramnique Grewal 
 
Further Information - Notes to Editors 
 
About Globus Maritime Limited 
 
Globus is a global provider of seaborne transportation services for dry bulk 
cargoes, including among others iron ire, coal, grain, cement and fertilizers, 
along worldwide shipping routes. Globus owns and operates one Panamax, one 
Kamsarmax, and three Supramax vessels, with a weighted average age of 3.4 years 
as at June 30, 2010, and a total carrying capacity of 319,952 DWT. 
 
Globus is listed on the AIM market of the London Stock Exchange under ticker 
GLBS.  Jefferies International Limited is acting as nominated adviser and broker 
to the Company. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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