GRAND CAYMAN, Cayman Islands, (GLOBE NEWSWIRE) — Navios Maritime Holdings Inc. (the “Company”) announced today that the Company’s (i) American Depositary Shares each representing 1/100th of a share of the Company’s 8.75% Series G Cumulative Redeemable Perpetual Preferred Stock, $0.0001 par value per share (the “Series G ADSs”) and (ii) American Depositary Shares each representing 1/100th of a share of the Company’s 8.625% Series H Cumulative Redeemable Perpetual Preferred Stock, $0.0001 par value per share (the “Series H ADSs” and, together with the Series G ADSs, the “ADSs”) and the preferred stock underlying the ADSs have been delisted from the New York Stock Exchange (the “NYSE”).
The Company has also filed a Form 15 with the Securities and Exchange Commission (the “SEC”) to suspend its reporting obligations under the Securities Exchange Act of 1934. As a result, the Company’s obligation to file periodic reports with the SEC, including its annual report on Form 20-F, is immediately suspended. Once the Form 15 is effective, which is expected to occur within 90 days of today’s filing, the Company’s obligations to file all other reports with the SEC will also be suspended.
The Company intends to make publicly available the financial information about the Company necessary in order to allow the ADSs to be quoted on an over-the-counter (“OTC”) market. However, no assurance can be provided that any broker-dealer will make a market in the ADSs, which is a requirement for OTC quotation, or that trading of the ADSs will continue on an OTC market or elsewhere.
Forward-Looking Statements
This communication contains forward-looking statements relating to the Company’s delisting of its ADSs and deregistration under the Securities Exchange Act of 1934. Statements in this communication that are not statements of historical fact are considered forward-looking statements, which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. These forward-looking statements are neither forecasts, promises nor guarantees, and are based on the current beliefs of management of the Company as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events and are subject to known and unknown risks The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company does not undertake any duty to update any forward-looking statement or other information in this communication, except to the extent required by law.
About Navios Maritime Holdings Inc.
Navios Maritime Holdings Inc. owns (i) a controlling equity stake in Navios South American Logistics Inc., one of the largest infrastructure and logistics companies in the Hidrovia region of South America and (ii) an interest in Navios Maritime Partners L.P. (NYSE:NMM), an international shipping company, listed on the New York Stock Exchange, that owns and operates dry cargo and tanker vessels. For more information, please visit our website: www.navios.com.
