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Going Dark – B+H and U-Sea Bulk Seek Privacy

Reflecting the lack of interest in its shares, B+H Ocean Carriers Ltd. announced his week that its shareholders had approved a 101 for 1 reverse stock split and the decision to delist the shares from the Amex. The latter step will generate substantial savings, estimated to be in the range of 20% of G&A, as the company will soon discontinue it filings with the SEC. After the de-listing the shares will be tradable on the over-the-counter market. We will miss the B+H brand which dates back to our entry in the business in the early 1980s.

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Written by: | Categories: Freshly Minted, The Week in Review | December 1st, 2011 |

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