| Press Releases |
Dealings by Directors
15/11/2005 15:57
The Company has been informed that, as anticipated in the Company's Admission
Document dated 7 November 2005, Angeliki Frangou, a director of the Company and
certain of her affiliates, acquired 6,666,668 warrants to buy common shares in
the Company. All such warrants were acquired as part of a unit (consisting of
one common share and two warrants) at a price of US$6 per unit. Following this
purchase, Angeliki Frangou had directly and/or indirectly an interest in 7.27
per cent of the issued warrants of the Company. On 14 November, Angeliki
Frangou and/or her affiliates acquired an additional 1,075,000 warrants at a
price of up to US$0.50 per warrant giving Angeliki Frangou directly and/or
indirectly an interest in 8.44 per cent of the issued warrants of the Company.
As set out in the Admission Document, Angeliki Frangou agreed with Sunrise
Securities Corp. ('Sunrise') that Sunrise may purchase on her behalf, or on
behalf of her affiliates, up to an aggregate of US$5,000,000 in value of
warrants at prices not to exceed US$0.50 per warrant during the first 40 days of
trading on AIM (up to a maximum of US$500,000 in value of warrants in one day).
The Company is pleased to announce that on 14 November 2005, Angeliki Frangou
has agreed to release such daily limit on Sunrise's purchases of warrants in the
Company. Sunrise is now authorised to purchase up to approximately US$4,500,000
in value of warrants, being the maximum outstanding of Ms Frangou's original
order of US$5,000,000.
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