Globus Maritime Announces Results of Annual Meeting of Shareholders

Rhea-AI Summary

Globus Maritime (NASDAQ:GLBS), a dry bulk shipping company, has announced the results of its annual shareholders meeting held in Glyfada, Greece. The shareholders approved three key proposals: the election of George Feidakis as Class III director until 2028, the appointment of Ernst & Young (Hellas) as independent auditors for FY2025, and authorization for potential reverse stock splits.

The most significant development is the approval for one or more reverse stock splits with an aggregate ratio of up to 1-for-20. The exact ratio will be determined by the Board of Directors, who are now authorized to implement these splits through filings with the Marshall Islands' Registrar of Corporations.

Positive

• Board gains flexibility to implement reverse stock splits up to 1-for-20 ratio to potentially improve stock price
• Continuation of established leadership with re-election of George Feidakis as director
• Engagement of Big Four firm Ernst & Young as auditors enhances financial oversight

Negative

• Potential reverse stock split indicates concerns about low share price
• Reverse split could reduce stock liquidity

GLYFADA, Greece, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Globus Maritime Limited (“Globus” or the “Company”), (NASDAQ: GLBS), a dry bulk shipping company, announced the results of its annual meeting of shareholders, held earlier today in Glyfada, Greece. The following proposals were approved and adopted at the meeting:

1. the election of Mr. Georgios “George” Feidakis as Class III director of the Company, to serve until the 2028 Annual Meeting of Shareholders;
   
   
2. the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A., as the Company’s independent auditors for the fiscal year ending December 31, 2025;
   
   
3. one or more amendments to the Company’s Articles of Incorporation to effect one or more reverse stock splits of the Company’s issued and outstanding shares of common stock and Series B preferred shares by an aggregate ratio of not more than one-for-20, with the exact ratio to be set at a whole number to be determined by the Company’s Board of Directors or a committee thereof in its discretion, at any time or times after approval of the amendments, and to authorize the Company’s Board of Directors to implement one or more reverse stock splits by filing one or more amendments with the Registrar of Corporations of the Republic of the Marshall Islands.
   
   

About Globus Maritime Limited

Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide. The Company’s operating fleet consists of nine dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally, with a total carrying capacity of 680,622 dead weight tons and a weighted average age of 7.8 years as of September 25, 2025.

Safe Harbor Statement

This communication contains “forward-looking statements” as defined under U.S. federal securities laws. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons specifically as described in the Company’s filings with the Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Globus undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated events. You should, however, review the factors and risks Globus describes in the reports it files from time to time with the Securities and Exchange Commission.

For further information please contact:
Globus Maritime Limited	+30 210 960 8300
Athanasios Feidakis, CEO	a.g.feidakis@globusmaritime.gr
Capital Link – New York	+1 212 661 7566
Nicolas Bornozis	globus@capitallink.com

FAQ

What were the key decisions made at Globus Maritime's (GLBS) 2025 annual meeting?

Shareholders approved three key items: election of George Feidakis as Class III director, appointment of Ernst & Young as auditors, and authorization for reverse stock splits up to 1-for-20 ratio.

What is the maximum reverse stock split ratio approved for GLBS?

Shareholders approved reverse stock splits with an aggregate ratio of up to 1-for-20, with the exact ratio to be determined by the Board of Directors.

Who was elected as Class III director of Globus Maritime (GLBS)?

George Feidakis was elected as Class III director to serve until the 2028 Annual Meeting of Shareholders.

Which firm will serve as Globus Maritime's independent auditors for 2025?

Ernst & Young (Hellas) Certified Auditors Accountants S.A. was appointed as the company's independent auditors for fiscal year 2025.

Why might Globus Maritime (GLBS) be considering a reverse stock split?

Companies typically implement reverse stock splits to increase their stock price, improve trading status, and maintain exchange listing requirements, though specific reasons weren't disclosed in the announcement.