Reverse Splits

[sludgehound]

SHIP Nas warn & may R/S
Close .78 b 0.50 / a 1.08 -0.048
Baltic dry bulk index was down again am 557-2.2% lifetime low.

Seanergy Maritime Holdings Corp. Announces Receipt of Nasdaq Notice
Marketwired
February 03, 2015: 04:02 PM ET

Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP) announced today it has received written notification from The Nasdaq Stock Market ("Nasdaq") dated January 28, 2015, indicating that because the closing bid price of the Company's common stock for 30 consecutive business days, from December 12, 2014 to January 27, 2015, was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Capital Market, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the applicable grace period to regain compliance is 180 days, or until July 27, 2015.

The Company intends to monitor the closing bid price of its common stock between now and July 27, 2015 and is considering its options, including a reverse stock split, in order to regain compliance with the Nasdaq Capital Market minimum bid price requirement. The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. In the event the Company does not regain compliance within the 180-day grace period and it meets all other listing standards and requirements, the Company may be eligible for additional 180-day grace period.

The Company intends to cure the deficiency within the prescribed grace period. During this time, the Company's common stock will continue to be listed and trade on the Nasdaq Capital Market. The Company's business operations are not affected by the receipt of the notification.

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is a Marshall Islands corporation with its executive offices in Athens, Greece. The Company is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers.

Upon closing of the previously announced agreed 2001 built Capesize acquisition, the Company will own one Capesize bulk carrier of approximately 171,000 dwt. According to the Company's business plan, Seanergy is continuously reviewing the market in order to identify further suitable vessel acquisitions.

The Company's common stock trades on the Nasdaq Capital Market under the symbol "SHIP".