DryShips Inc. Mandatory Offer Period for the Acquisition of the Remaining Shares of Ocean Rig ASA
ATHENS, GREECE--(Marketwire - May 14, 2008) - DryShips Inc. (NASDAQ: DRYS) today announced
that the Mandatory Offer period for the acquisition of all the outstanding
shares of Ocean Rig ASA commenced today and the appropriate Offer Document
has been filed with the Oslo Stock Exchange.
The mandatory offer period will end on 11th June, 2008. As of 14 May 2008,
Primelead Limited, a wholly owned subsidiary of DryShips, Inc., owns
128,035,373 shares in Ocean Rig or 75.1% of the shares and votes in Ocean
About DryShips, Inc.
DryShips Inc., based in Greece, is an owner and operator of drybulk
carriers that operate worldwide. As of the day of this release, DryShips
owns a fleet of 47 drybulk carriers comprising 4 Capesize, 32 Panamax, 2
Supramax, 9 newbuilding drybulk vessels, with a combined deadweight
tonnage of over 4 million tons.
DryShips Inc.'s common stock is listed on the NASDAQ Global Market where it
trades under the symbol "DRYS."
Visit our website at www.dryships.com
Matters discussed in this release may constitute forward-looking
statements. Forward-looking statements reflect our current views with
respect to future events and financial performance and may include
statements concerning plans, objectives, goals, strategies, future events
or performance, and underlying assumptions and other statements, which are
other than statements of historical facts.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical
operating trends, data contained in our records and other data available
from third parties. Although DryShips Inc. believes that these assumptions
were reasonable when made, because these assumptions are inherently subject
to significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, DryShips Inc. cannot
assure you that it will achieve or accomplish these expectations, beliefs
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include
the strength of world economies and currencies, general market conditions,
including changes in charterhire rates and vessel values, changes in demand
that may affect attitudes of time charterers to scheduled and unscheduled
drydocking, changes in DryShips Inc.'s operating expenses, including bunker
prices, dry-docking and insurance costs, or actions taken by regulatory
authorities, potential liability from pending or future litigation,
domestic and international political conditions, potential disruption of
shipping routes due to accidents and political events or acts by
Risks and uncertainties are further described in reports filed by DryShips
Inc. with the US Securities and Exchange Commission.
Contact Information: Investor Relations / Media:
Capital Link, Inc., New York