Seanergy Maritime Holdings Corp. Announces It Has Signed Waiver Agreement on Loan Covenant
September 15 2009 – Athens, Greece – Seanergy Maritime Holdings Corp. (the “Company”)
(NASDAQ: SHIP; SHIP.W) announced today that it has signed a waiver agreement with its
lender waiving the Company’s compliance on its market-value-to loan covenant. The waiver
applies for a period of up to July 1, 2010.
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp., the successor to Seanergy Maritime 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 control and operation of dry bulk carriers. The
Company purchased and took delivery of six dry bulk carriers in the third and fourth quarters of
2008 from companies associated with members of the Restis family. In August 2009, the
Company acquired a controlling interest in Bulk Energy Transport (Holdings) Limited, which
owns five drybulk carriers, four Capesize and one Panamax.
As a result, the Company's current controlled fleet includes 11 dry bulk carriers (4 Capesize, 3
Panamax, 2 Supramax and 2 Handysize vessels) with a total carrying capacity of 1,043,296 dwt
and an average age of 13 years.
The Company’s common stock and warrants trade on the NASDAQ Global Market under the
symbols SHIP and SHIP.W, respectively. Prior to October 15, 2008, the Company’s common
stock and warrants traded on the NYSE Amex LLC (formally known as AMEX) under the
symbols SRG, SRG.W, respectively.
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp., the successor to Seanergy Maritime 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. The Company’s initial fleet is comprised of two Panamax, two Supramax and two Handysize dry bulk carriers which Seanergy purchased and took delivery of the ships in the third and fourth quarters of 2008 from companies associated with members of the Restis family. In August 2009, the Company acquired a controlling interest in Bulk Energy Transport (Holdings) Limited ("BET") which owns five drybulk carriers, four Capesize and one Panamax.
As a result, the Company’s current controlled fleet includes 11 drybulk carriers (4 Capesize, 3 Panamax, 2 Supramax and 2 handysize vessels) with a total carrying capacity of 1,043, 296 dwt and an average age of 13 years.
The Company’s common stock and warrants trade on the NASDAQ Global Market under the symbols SHIP and SHIP.W, respectively. Prior to October 15, 2008, the Company’s common stock and warrants traded on the NYSE Amex LLC (formally known as AMEX) under the symbols SRG, SRG.W, respectively.
Seanergy Maritime Corp. press release