Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

STAR BULK CARRIERS CORP. ANNOUNCES RECEIPT OF NASDAQ NOTICE AND UPDATE ON COMPANY’S SHARE REPURCHASE PLAN

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/05/2012 | 07:17am CEST

4/5/2012

STAR BULK CARRIERS CORP. ANNOUNCES RECEIPT OF NASDAQ NOTICE AND UPDATE ON COMPANY'S SHARE REPURCHASE PLAN

ATHENS, GREECE, May 4, 2012 - Star Bulk Carriers Corp.

NASDAQ notification
The Company received written notification from The NASDAQ Stock Market LLC ("Nasdaq") dated May 2, 2012 indicating that because the closing bid price of the Company's common stock for the previous 30 consecutive business days was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Global Select Market, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1). The applicable grace period to regain compliance is 180 days.


This notification has no effect on the listing of the Company's common stock at this time. The Company intends to monitor the closing bid price of its common stock between now and October 29, 2012 and is considering its options in order to regain compliance with the Nasdaq minimum bid price requirement.


Update on Company's Share Repurchase Plan
The Company cancelled and withdrew 725,957 shares from its outstanding share capital that it had repurchased up to April 30th 2012. The Company intends to continue acquiring its common shares in the open market at prices and amounts in its sole discretion.


About Star Bulk
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol "SBLK." Currently, Star Bulk's fleet consists of fourteen dry bulk carriers, consisting of six Capesize vessels and eight Supramax vessels and a combined cargo carrying capacity of 1,475,005 deadweight tons and an average age of approximately 10 years.


Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements 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 Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Company's management of historical operating trends, data contained in its records and other data available from third parties. Although the Company 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 the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company's 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 fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company's operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company's vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.



distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
03:38p AUSTAL : Defense bill blocks attempt to cut shipyard
03:38p DGAP-NEWS : Atevia AG: CINETIC konkretisiert Squeeze Out-Verlangen und legt Barabfindung auf EUR 7,13 fest
03:38p BARCLAYS 100% MORTGAGE : how much does it really help homebuyers?
03:38p TRINITY MIRROR : shares hit three-year low ahead of AGM
03:38p BAE SYSTEMS : Peace activists question BAE bosses over Saudi arms sales at AGM
03:38p NESPRESSO : Expands Recycling Partnership With Ups From 20 States To The Entire Continental U.S.
03:38p MEDIA ADVISORY : Minister Joly to Make an Announcement About Two Arts Presenters in Quebec City
03:37p KIDVILLE : Ribbon-cuttings boost fortunes of closter's renovated mall
03:37p Elkjøp Nordic AS Selects L&T Infotech as Its Strategic Partner for Infrastructure Management Services
03:36p DREW INDUSTRIES INC : Other Events, Financial Statements and Exhibits (form 8-K)
Latest news
Advertisement
Hot News 
AVOLON : delivers its first Airbus A320neo aircraft
MARECHALE CAPITAL : Unaware Of Any Reason For Share Price Jump
FORM 8.5 : 04/05/2016
OpGen and District of Columbia Hospital Association Complete First Citywide Quantification of Multidrug-Resistant Organism (MDRO) Prevalence in Washington, D.C.-based Healthcare Facilities
FORBIDDEN TECHNOLOGIES : Paid Proof of Concept with Broadcaster
Most Read News
05/03 Lateral Gold Announces Proposed RTO Transaction with CANHaul International
05/03 Cascade Financial Services to be Acquired by an Affiliate of Centerbridge Partners, L.P.
05/03 CREDIT CHINA : Announces Investment in BitFury, Joint venture to jointly promote Blockchain technology in China, Strengthen information security and Group's capability in Internet finance
05/03 CRAMER : Federal Regulators Have No Answer for Need for Devastating Mining Rule
05/03 LEVI STRAUSS & CO. : Names Roy Bagattini President of Levi Strauss Americas
Most recommended articles
05/03DJUBS Shares Drop As Profit Slumps
09:35a JANUS'S BILL GROSS : 'Helicopter money' is coming in a year or so
09:35a Canada March trade deficit widens to record as exports slump
09:34a Wall St. opens lower as weak private jobs data weighs
09:33a U.S. PRIVATE SECTOR JOB GROWTH SLOWS IN APRIL : Adp