Star Bulk Carriers Corp. Announces Receipt of Nasdaq Notice and Update on Company’s Share Repurchase Plan
News Release
Star Bulk Carriers Corp.
May 4, 2012
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<P><STRONG>ATHENS, GREECE, May 4, 2012 - Star Bulk Carriers Corp.</STRONG> (the
"Company" or "Star Bulk") (Nasdaq: SBLK), a global shipping company focusing on
transportation of dry bulk cargoes, announced today:</P>
<P> </P>
<P><STRONG>NASDAQ notification<BR></STRONG>The Company received written
notification from The NASDAQ Stock Market LLC ("Nasdaq") dated May 2, 2012
indicating that because the closing bid price of the Company's common stock for
the previous 30 consecutive business days was below the minimum $1.00 per share
bid price requirement for continued listing on the Nasdaq Global Select Market,
the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1). The
applicable grace period to regain compliance is 180 days.</P>
<P><BR>This notification has no effect on the listing of the Company's common
stock at this time. The Company intends to monitor the closing bid price of its
common stock between now and October 29, 2012 and is considering its options in
order to regain compliance with the Nasdaq minimum bid price requirement.</P>
<P><BR><STRONG>Update on Company's Share Repurchase Plan <BR></STRONG>The
Company cancelled and withdrew 725,957 shares from its outstanding share capital
that it had repurchased up to April 30th 2012. The Company intends to continue
acquiring its common shares in the open market at prices and amounts in its sole
discretion.</P></DIV></BODY></HTML>
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<DIV>
<P><STRONG>ATHENS, GREECE, May 4, 2012 - Star Bulk Carriers Corp.</STRONG> (the
"Company" or "Star Bulk") (Nasdaq: SBLK), a global shipping company focusing on
transportation of dry bulk cargoes, announced today:</P>
<P> </P>
<P><STRONG>NASDAQ notification<BR></STRONG>The Company received written
notification from The NASDAQ Stock Market LLC ("Nasdaq") dated May 2, 2012
indicating that because the closing bid price of the Company's common stock for
the previous 30 consecutive business days was below the minimum $1.00 per share
bid price requirement for continued listing on the Nasdaq Global Select Market,
the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1). The
applicable grace period to regain compliance is 180 days.</P>
<P><BR>This notification has no effect on the listing of the Company's common
stock at this time. The Company intends to monitor the closing bid price of its
common stock between now and October 29, 2012 and is considering its options in
order to regain compliance with the Nasdaq minimum bid price requirement.</P>
<P><BR><STRONG>Update on Company's Share Repurchase Plan <BR></STRONG>The
Company cancelled and withdrew 725,957 shares from its outstanding share capital
that it had repurchased up to April 30th 2012. The Company intends to continue
acquiring its common shares in the open market at prices and amounts in its sole
discretion.</P></DIV></BODY></HTML>