Globus Maritime Ltd Announces Reverse Split Effective July 29, 2010.

News Release Globus Maritime Ltd. July 31, 2010

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Athens, Greece, July 29, 2010. Globus Maritime Ltd
(“Globus”
or the “Company”) (AIM: GLBS)
announces today that the previously announced 1-for-4 reverse
stock split will take effect at the
opening of trading in London on Thursday July 29, 2010, with the
Company’s issued share capital
being 7,240,852 shares of US$0.004 each.
The 1-for-4 reverse split was approved by the Company’s
shareholders at the Annual General
Meeting held on July 28, 2010, together with all the special
resolutions relating to the possible listing
of the Company’s shares on a U.S. Stock Exchange. Were the Company
to achieve such a listing, it
would seek to delist its shares from AIM as soon as reasonably
practicable so as to avoid the
unnecessary expense of maintaining dual listings.
George Karageorgiou, Chief Executive Officer of Globus Maritime,
stated: “We consolidated our
shares in preparation of the possible listing on a U.S. Stock
Exchange. We believe that listing
Globus on an exchange in the United States may result in our
shares trading at a more favourable
price relative to their net asset value than has recently been the
case. This belief is based on the
performance of share prices of comparable companies currently
trading on U.S. Stock Exchanges,
which generally benefit from a larger universe of research
analysts as well as a larger base of both
institutional and individual investors. In addition, the Board
believes that the Company would also be
in a better position to raise funds for its future
development.”
Shareholders who hold their shares in certificated form will
receive a new certificate within 14 days
of the Record Date. Old certificates are now invalid. Shareholders
holding a number of shares that is
not evenly divisible by the ratio of the reverse stock split will
not receive a cash payment for any
fractional shares.</DIV></BODY></HTML>