Oceanfreight Inc. Announces the Results of its 2010 Annual General Meeting of Shareholders

News Release OceanFreight, Inc. June 12, 2010

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June 11, 2010 - Athens, Greece - OceanFreight Inc.
(NASDAQ: OCNF) (the “Company”), a global provider of
seaborne transportation services for both drybulk and energy
commodities, today announced the official results of
its 2010 Annual General Meeting, held on June 10, 2010 at 10:00
a.m. local time in Athens, Greece. The following
proposals were approved by the Company’s shareholders:
1. All of the nominees of the Board of Directors were approved to
serve until the 2013 Annual General Meeting
of Shareholders (the “Proposal One”);
2. The Company’s Amended and Restated Articles of Incorporation
were amended to effect a reverse stock split
of the Company’s issued and outstanding common shares and to
reduce the number of authorized Class A
common shares, both at a ratio of three to one (the “Proposal
Two”);
3. The Company’s Amended and Restated Articles of Incorporation
were amended to reduce shareholder
meeting quorum to one third of all issued and outstanding shares
present either in person or by proxy (the
“Proposal Three”); and
4. Ernst & Young (Hellas), Certified Auditors Accountants S.A.
was approved as the Company’s independent
auditors for the fiscal year ending December 31, 2010 (the
“Proposal Four”).
About the Company
OceanFreight Inc., is an owner and operator of both drybulk and
tanker vessels that operate worldwide. As of the
day of this release, OceanFreight owns a fleet of 11 vessels
comprising of eight drybulk vessels (three Capesize,
five Panamaxes) and three crude carrier tankers (one Suezmax, two
Aframaxes) with a combined deadweight
tonnage of about 1.2 million tons.
The Company’s common stock is listed on the NASDAQ Global Market where it
trades under the symbol “OCNF”.
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