Denouement

The Aries Maritime Transport Limited (“Aries”) story begins anew. Last week, Aries entered into a securities purchase agreement with Grandunion Inc., a company controlled by Michail Zolotas and Nicholas Fistes, pursuant to which the company has agreed to acquire three capsize bulkcarriers, with an approximate net asset value of $36 million in exchange for 18,977,778 shares. A description of the vessels being acquired is shown herein.
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Written by: carisk | Categories: Freshly Minted, The Week in Review | September 24th, 2009 | Add a Comment

Following on Quintana’s Success?

Using current phraseology, Aries Maritime Transport Limited (“Aries”) announced last Friday that its Board of directors has retained Merrill Lynch to assist the company in a review to evaluate strategic alternatives to enhance shareholder value. “These alternatives may include, but are not limited to the sale or merger of the company, other strategic transactions, potential capital raises and the continued execution of the company’s operating plan.” Continue Reading