Seanergy Maritime Holdings: Ολοκληρώνει το σχέδιο Χρηματοοικονομικής Αναδιάρθρωσης

Η Seanergy Maritime Holdings. Η εταιρεία έχει πουλήσει τα τέσσερα εναπομείναντα πλοία στον δανειστή προς πλήρη ικανοποίηση των υποκείμενων δανείων, ολοκληρώνοντας έτσι το σχέδιο Χρηματοοικονομικής Αναδιάρθρωσης της.

Seanergy Maritime Holdings Corp. Completes Financial Restructuring

Plan

March 19, 2014 – Athens, Greece – Seanergy Maritime Holdings Corp. (the

– Seanergy Maritime Holdings Corp. (the

“Company”) (NASDAQ: SHIP) announced today that it has closed on its previously

announced delivery and settlement agreement with its remaining lender to unwind

its final secured credit facility. The Company has sold its four remaining bulk

carriers to a nominee of the lender in full satisfaction of the underlying loan.

In exchange for the sale, approximately $146 million of outstanding debt and

accrued interest were discharged and the Company’s guarantee has been fully

released. After giving effect to the transaction, the Company has no outstanding

indebtedness.

The gain from this transaction is expected to be approximately $85 million, which

will be reflected in the first quarter of 2014.

Stamatis Tsantanis, the Company’s Chairman and Chief Executive Officer,

stated: “We are very pleased to have closed on our agreement with our final

: “We are very pleased to have closed on our agreement with our final

lender. Through the successful completion of our financial restructuring plan, the

Company has managed to extinguish $346 million of debt since 2012. We are now

in a position to evaluate a number of strategic opportunities for the Company.

Having achieved this important milestone, we are now focused on pursuing growth

through accretive transactions.”

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is a Marshall Islands corporation with its

executive offices in Athens, Greece. The Company is engaged in the transportation

of dry bulk cargoes through the ownership and operation of dry bulk carriers.

Currently, the Company does not own any operating vessels. The Company intends

to review the market in order to identify potential vessel acquisitions on accretive

terms.

The Company’s common stock trades on the NASDAQ Capital Market under the

symbol “SHIP.”

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A

of the Securities Act of 1933, as amended, and Section 21E of the Securities

Exchange Act of 1934, as amended) concerning future events and the Company’s

growth strategy and measures to implement such strategy. Words such as

“expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and

variations of such words and similar expressions are intended to identify forwardlooking

statements. Although the Company believes that such expectations will

prove to have been correct, these statements involve known and unknown risks

and are based upon a number of assumptions and estimates, which are inherently

subject to significant uncertainties and contingencies, many of which are beyond

the control of the Company. Actual results may differ materially from those

expressed or implied by such forward-looking statements. Factors that could cause

actual results to differ materially include, but are not limited to, the scope and

timing of Securities and Exchange Commission (“SEC”) and other regulatory agency

review, competitive factors in the market in which the Company operates; risks

associated with operations outside the United States; and other factors listed from

time to time in the Company’s filings with the SEC. The Company’s filings can be

obtained free of charge on the SEC’s website at www.sec.gov. The Company

expressly disclaims any obligations or undertaking to release publicly any updates

or revisions to any forward-looking statements contained herein to reflect any

change in the Company’s expectations with respect thereto or any change in

events, conditions or circumstances on which any statement is based.

Contact Information

For further information please contact:

Investor Relations / Media

Capital Link, Inc.

Paul Lampoutis

230 Park Avenue Suite 1536

New York, NY 10169

Tel: (212) 661-7566

E-mail: seanergy@capitallink.com