Globus Maritime announces agreements to purchase two dry bulk vessels

One of the vessels is a 2016-built dry bulk vessel with a carrying capacity of approximately 81 119 dwt and has a purchase price of US$27.5 million, and the other vessel is a 2014-built dry bulk vessel with a carrying capacity of approximately 81 817 dwt and has a purchase price of US$26.5 million, in each case subject to standard adjustments. An aggregate of US$18.0 million of the purchase price for the 2016-built vessel will be paid upon its delivery (including the deposit), and the remaining balance is to be paid in one lump sum without interest no later than one year after the date of the relevant memorandum of agreement. An aggregate of US$17.0 million of the purchase price for the 2014-built vessel will be paid upon its delivery (including the deposit), and the remaining balance is to be paid in one lump sum without interest no later than one year after the date of the relevant memorandum of agreement.

Each vessel is owned and agreed to be sold by an entity controlled by the Chairman of the Board of Directors and to which the Chief Executive Officer is also related, and accordingly the purchase of each vessel was approved by a committee of the Board of Directors of the Company comprised solely of independent directors, as well as unanimously by the Company’s Board of Directors.

Each vessel is expected to be delivered to the Company during the 4Q24 and is subject to standard closing conditions and requirements. It is expected that the portion of the purchase price to be paid at the delivery will be funded entirely with cash on hand. The purchase price of each Vessel was based on independent third-party broker valuations.

Following the successful delivery of both vessels the Company’s fleet will comprise of ten dry bulk carriers with a total carrying capacity of approximately 734 249 dwt.

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