Greek Investment Company Closes Assetplus Purchase

Press Release
Thursday, February 14, 2013

Nautilus Marine Acquisition Corp. announce closing the purchase of Cypriot vessel owner Assetplus Ltd., & expiry of its tender offer.

Greece's Nautilus Marine Acquistion describes itself as a newly-organized 'blank check' company (meaning that it is in a developmental stage that either doesn't have an established business plan or has a business plan that revolves around a merger or acquisition with another firm).

The company they have acquired, Assetplus, owns two platform supply vessels (PSVs) and two oil spill response vessels (OSRVs) and is negotiating acquisition of another two vessels. The company also has six four-year time charter contracts secured from Brazil's oil and gas company Petrobras.

Nautilus state the financial details as follows:

'Based upon information provided by American Stock Transfer & Trust Company, the depositary for the Tender Offer, as of the expiration of the Tender Offer, a total of 4,225,864 Common Shares have been validly tendered and not withdrawn. Pursuant to the terms of the Offer, Nautilus accepted for purchase an additional 88,564 Common Shares (within 2% of Nautilus' outstanding Common Shares).

As a result, all Common Shares validly tendered and not properly withdrawn were accepted for purchase. As such, Nautilus accepted for purchase 4,225,864 Common Shares at a purchase price of $10.10 per Common Share for a total cost of approximately $42.68 million, excluding fees and expenses related to the Tender Offer. Such Common Shares represent approximately 70.4% of Nautilus' issued and outstanding Common Shares as of February 13, 2013. Payment for Common Shares accepted for purchase will be made promptly.

Morrow & Co., LLC acted as the information agent, and the depositary was American Stock Transfer & Trust Company.'


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