Aries Maritime Transport Limited Regains Compliance with NASDAQ Closing Bid
Price Requirement
ATHENS, Greece, Oct. 26 /PRNewswire-FirstCall/ -- Aries Maritime Transport
Limited (Nasdaq: RAMS) (the "Company") announced that it received notification
from the NASDAQ Listing Qualifications department that it has regained
compliance with the $1.00 minimum bid price requirement for continued listing
set forth in Listing Rule 5450(a)(1), as its common stock has achieved a
closing bid-price of $1.00 or more for 10 consecutive business days, and that
this matter is now closed.
On September 16, 2009, NASDAQ notified the Company that its common stock had
fallen out of compliance with one of its standards for continued listing on
the NASDAQ Global Market because the common stock failed to achieve at least a
$1.00 closing bid price for 30 consecutive business days. The Company had been
granted a grace period of 180 calendar days in which to regain compliance.
About Aries Maritime Transport Limited
Aries Maritime Transport Limited is an international shipping company that
owns and operates products tankers, container vessels and drybulk carriers.
For more information please visit our website at www.ariesmaritime.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of
the safe harbor provisions of the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements in this press release include
matters that involve known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially from results expressed or
implied by this press release. Actual results may differ Aries undertakes no
obligation and does not intend to update these forward-looking statements to
reflect events or circumstances occurring after the date of this press
release. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. All forward-looking statements are qualified in their entirety by
this cautionary statement.
CONTACT:
Investor Relations
CJP Communications
Laura Kowalcyk
+1 212 279 3115 (x209)
lkowalcyk@cjpcom.com
SOURCE Aries Maritime Transport Limited
Laura Kowalcyk, Investor Relations, CJP Communications, +1-212-279-3115
(x209), lkowalcyk@cjpcom.com
