Contact Information: For Further Information please contact: Seanergy Maritime Corp. Alexis Komninos Chief Financial Officer 33 Stadiou Str Athens 105 59, Greece Tel: 30 210 3726200 Facsimile: +30-210 3218847 E-mail: kalexis@komninos.gr Investor Relations / Media: Capital Link, Inc. Paul Lampoutis 230 Park Avenue Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: seanergy@capitallink.com
Restis Family Increases Its Support of Seanergy Maritime and Purchases Additional Shares of Common Stock
| Source: Seanergy Maritime
ATHENS, GREECE--(Marketwire - July 17, 2008) - Seanergy Maritime Corp. ("Seanergy") (AMEX : SRG ) (AMEX : SRG.U ) (AMEX : SRG.W ) has announced that it has been advised by
affiliates of the Restis family that an entity under their control has
purchased an aggregate of 2,896,171 shares of Seanergy Maritime Corp. from
three separate stockholders of the Company. As a result, Restis affiliates
beneficially own an aggregate of 6,259,171 shares of Seanergy common stock,
reflecting 21.9% of Seanergy's currently outstanding common stock, which
amount excludes 2,750,000 shares with respect to which the affiliates of
the Restis family have shared voting power but do not have dispositive
power.
Dale Ploughman, Seanergy's CEO, stated: "We are very pleased with the
increased support from the affiliates of the Restis family. This
demonstrates tangibly our positive outlook on the fundamentals of the dry
bulk sector and on Seanergy's prospects once it becomes an operating
company following shareholder approval and completion of the proposed
transaction."
Seanergy Maritime Corp. previously announced that pursuant to an Agreement
dated May 20, 2008, Seanergy Merger Corp., the wholly owned subsidiary of
the Company, has agreed to acquire six dry bulk vessels from affiliates of
the Restis family (including a newly built vessel and a vessel under
construction).
About Seanergy Maritime Corp.
Seanergy Maritime Corp. is a Business Combination Company™, or BCC™.
A BCC™ is a blank check company formed for the purpose of acquiring,
through a merger, capital stock exchange, asset acquisition or other
similar business combination, an unidentified operating business.
Forward-Looking Statement
This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended) concerning future events
and the Company's growth strategy and measures to implement such strategy.
Words such as "expects," "intends," "plans," "believes," "anticipates,"
"hopes," "estimates," and variations of such words and similar expressions
are intended to identify forward-looking statements. Although the Company
believes that the expectations reflected in such forward-looking statements
are reasonable, no assurance can be given that such expectations will prove
to have been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates, which are inherently
subject to significant uncertainties and contingencies, many of which are
beyond the control of the Company. Actual results may differ materially
from those expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially include, but are not
limited to, the scope and timing of SEC and other regulatory agency review,
competitive factors in the market in which the Company operates; risks
associated with operations outside the United States; and other factors
listed from time to time in the Company's filings with the Securities and
Exchange Commission. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in the
Company's expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Additional Information
In connection with the proposed transaction and required shareholder
approval, Seanergy will file with the SEC a proxy statement that will be
mailed to the shareholders of Seanergy. Seanergy's shareholders are urged
to read the proxy statement and other relevant materials when they become
available as they will contain important information about the transaction
and related matters. Shareholders will be able to obtain a copy of the
definitive proxy statement, without charge, by directing a request to:
Seanergy Maritime Corp., Alexios Komninos, Chief Financial Officer, 33
Stadiou Str., Athens 105 59, Greece. Once filed, investors and security
holders will be able to obtain free copies of these documents through the
website maintained by the SEC at http://www.sec.gov.
Seanergy and its officers and directors may be deemed to be participating
in the solicitation of proxies from the Seanergy shareholders in favor of
the approval of the proposed transaction. Information concerning Seanergy's
directors and officers is set forth in the publicly filed documents of
Seanergy. Shareholders may obtain more detailed information regarding the
direct and indirect interests of Seanergy and its directors and executive
officers in the transaction and related financing by reading the proxy
statement regarding the proposed acquisition, which will be filed with the
SEC.