Brief: Top Ships Inc Announces Proposed Spin-Off Creating A New Suezmax Tanker Company

TOP Ships

21/06/2023 13:40

June 21 (Reuters) - Top Ships Inc  TOPS.O :
    * TOP SHIPS INC. ANNOUNCES PROPOSED SPIN-OFF CREATING A NEW
SUEZMAX TANKER COMPANY
    * TOP SHIPS INC - RUBICO INC CURRENTLY A SUBSIDIARY OF CO,
IS SET
TO BECOME AN INDEPENDENT PUBLICLY-TRADED COMPANY THROUGH PLANNED
SPIN-OFF
    * TOP SHIPS INC - RUBICO'S COMMON SHARES ARE EXPECTED TO
TRADE
INITIALLY ON OTCQX
    * TOP SHIPS INC - INTENDS TO DISTRIBUTE 100% OF COMMON
SHARES OF
RUBICO TO ITS SECURITYHOLDERS
    * TOP SHIPS INC-AS PART OF SPIN-OFF TRANSACTION, TOP SHIPS
INTENDS
TO DISTRIBUTE 100% OF COMMON SHARES OF RUBICO TO ITS
SECURITYHOLDERS
    * TOP SHIPS INC - EXPECTS THERE TO BE NO OVERLAPPING BOARD
MEMBERS
OR MANAGEMENT BETWEEN RUBICO AND TOP SHIPS
    * TOP SHIPS INC - ANTICIPATES THAT SPIN-OFF WILL BE
COMPLETED IN
SEPTEMBER 2023

Source text for Eikon:  ID:nGNX3KL1zF 
Further company coverage:  TOPS.O 

 (Reuters.Briefs@thomsonreuters.com)