Seanergy Maritime, Shareholders Special Meeting
Seanergy Maritime Holdings Corp. (NASDAQ:SHIP; SHIP.W) announced the results of the special meeting of its shareholders held on January 4, 2011 at the company’s executive offices. At the meeting the following proposal was approved and adopted: a reverse stock split of the company’s issued and outstanding common stock by a ratio of not less than one-for-two and not more than one-for-fifteen with the exact ratio to be set at a whole number within this range to be determined by the company’s board of directors in its discretion and the related amendment to the company’s Amended and Restated Articles of Incorporation. Following the shareholders' approval, the board of directors has the authority, but not the obligation, to select one of the approved reverse stock split ratios within the range and to effect the reverse stock split at any time. The reverse stock split will be affected, if at all, in order for the company to create the greatest marketability of its shares based on prevailing market conditions at the time.