Substantial Shareholder Transaction

    RNS Number : 7327Z
  Global Oceanic Carriers Ltd
  23 July 2008
   

    

    Global Oceanic Carriers Limited 
       

    Substantial Shareholder Transaction 


    Global Oceanic Carriers Limited (AIM:GOC) ('GOC' or the 'Company'), a global provider of marine transportation services for dry bulk
cargoes, today announces that it has been informed that Kaylee Maritime Limited sold its entire holding of 31,758,292 ordinary shares in GOC
on 22 July 2008 for 170.5 pence per share to Newport Holdings Limited. Kaylee Maritime Limited is associated with Mr. Michael Tartsinis, the
Company's Chief Executive Officer and Mr. Antonios Nikolaou, an Executive Director of the Company.

    Mr. Michael Tartsinis and Mr. Antonios Nikolaou are both directors of Newport Holdings Limited. Furthermore, both Mr. Michael Tartsinis
and Mr. Antonios Nikolaou along with Mr. Kriton Lentoudis, are shareholders of Newport Holdings Limited.

    As a result, Newport Holdings Limited holds 31,758,292 ordinary shares in GOC representing 79.3% of the issued share capital of the
Company. 

    Newport Holdings Limited made a recommended cash offer (the 'Offer') for the entire issued and to be issued share capital of GOC on 27
June 2008, which further to the announcement of extension of Offer and level of acceptances on 21 July 2008, will remain open for acceptance
until the next closing date, which will be 1.00 p.m. on 25 July 2008.

    As at 3.00 p.m. (London time) on 18 July 2008, valid acceptances had been received in respect of a total of 7,533,433 GOC shares,
representing approximately 18.81 per cent. of GOC's issued ordinary share capital.


    For further information please contact:

    Global Oceanic Carriers Limited
    Michael Tartsinis, Chief Executive Officer
    Tel: + 30 210 898 6362
    E-mail: [e-mail]
    www.gocarriers.com

    Jefferies International Limited
    Nick Davies
    Schuyler Evans
    Tel. + 44 (0) 20 7029 8000


    Investor Relations / Media: 

    Victoria Simmons
    Capital Link (London) - Tel. [phone] 
    E-mail: [e-mail]
    www.capitallink.com


    Further Information - Notes to Editors 

    About the Company
    Global Oceanic Carriers Limited is a global provider of marine transportation services for dry bulk cargoes through the ownership,
management and chartering of dry bulk carriers. The company is incorporated in Jersey and has its principal executive offices in Athens,
Greece.

    The company's current fleet includes seven dry bulk carriers, comprised of one Capesize, two Panamax, three Handymax and one Handysize
vessel with an aggregate carrying capacity of 456,273 dwt. 

    GO Carriers is listed on the AIM market and its stock code is GOC



    Forward-Looking Statement

    Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect the current views of
Global Oceanic Carriers Limited ("the Company") 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 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 our
control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. 

    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 charter hire rates and
vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in the
Company'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 terrorists. The Company does not assume, and expressly disclaims, any obligation to
update these forward-looking statements. 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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