SHIP » Topics » The Liquidation and Dissolution Proposal

This excerpt taken from the SHIP 6-K filed Jun 17, 2008.
The Liquidation and Dissolution Proposal
Seanergy is seeking your approval of an authorization for the liquidation and dissolution of Seanergy in connection with which Seanergy will distribute to each holder of shares of common stock of Seanergy one share of common stock of Seanergy Buyer for each share of Seanergy common stock owned by such holder. All outstanding warrants of Seanergy will concurrently become obligations of Seanergy Buyer and be exercisable to purchase Seanergy Buyer common stock on the same terms and conditions. We expect to file the certificate of dissolution with the Registrar of Corporations of the Marshall Islands, and accordingly distribute to our shareholders shares of common stock of Seanergy Buyer at such time as a registration statement filed with the Securities and Exchange Commission, or SEC, under the Securities Act of 1933, as amended, or an Information Statement under Section 14(a) of the Exchange Act of 1934, as amended, or the Exchange Act, by Seanergy Buyer is declared effective, (the “liquidation and dissolution proposal” or “Proposal 2”);
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