Bulk Carrier Owners' Stock Price Not Up to the Mark

Press Release
Tuesday, July 03, 2012

Greek-based Seanergy Maritime Holdings announce receipt ot NASDAQ notice

Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP) announce it has received written notification from The Nasdaq Stock Market (“Nasdaq”) dated June 29, 2012, indicating that because the market value of the publicly held shares (“MVPHS”) of the Company’s common stock for 30 consecutive business days, from May 16, 2012 to June 28, 2012, was below the minimum requirement of $5,000,000 for the continued listing on the Nasdaq Global Market, the Company is not in compliance with Nasdaq Listing Rule 5450(b)(1)(C).

The applicable grace period to regain compliance is 180 days.

The Company intends to monitor the MVPHS of its common stock between now and December 26, 2012 and is considering its options in order to regain compliance with the Nasdaq Global Market MVPHS requirement.

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 carriers.

The Company’s current fleet consists of 18 dry-bulk carriers (three Capesize, three Panamax, two Supramax and ten Handysize vessels) with a total carrying capacity of approximately 1,085,063 dwt and an average fleet age of 13.9 years.



 

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