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Navios Maritime Acquisition Corporation Announces Preliminary Vote
PIRAEUS, Greece, May 24, 2010 — Navios Maritime Acquisition Corporation ("Navios
Acquisition") (NYSE: NNA) announced today that, as of this morning, the preliminary
vote on the business combination on the agenda for the special meeting of its
stockholders scheduled for May 25, 2010 was as follows:
•Approximately 9.2 million shares in favor of such business
combination (including shares beneficially owned by Navios Maritime Holdings
Inc. and Angeliki Frangou);
•Approximately 13.6 million shares against the business combination (all of which
had indicated elections to convert shares into cash)
The numbers above do not include 6,325,000 shares owned by Navios Maritime Holdings
Inc., Angeliki Frangou and other directors which are obligated to vote the same way as a
majority of the 25,300,000 shares issued in Navios Acquisition’s initial public offering
Votes may be changed by following the process set forth in the proxy statement.
Stockholders wishing assistance in voting (or changing their vote) should contact
Morrow & Co. toll free at 800-662-5200.
Navios Acquisition may not necessarily update these preliminary vote numbers prior to
the special meeting.
About Navios Maritime Acquisition Corporation
Navios Maritime Acquisition Corporation is a publicly traded Special Purpose
Acquisition Corporation (SPAC) formed under the laws of the Marshall Islands. Navios
Acquisition serves as a vehicle for acquisition through a merger, capital stock exchange,
asset acquisition, stock purchase or other similar business combination, one or more
assets or operating businesses in the marine transportation and logistics industries. If the
vessel acquisition is approved and completed, Navios Acquisition will have a fleet of 13
tankers, consisting of 11 product tankers and two chemical tankers, plus options to
purchase two additional product tankers. Following the vessel acquisition, Navios
Acquisition’s business strategy is to become a world-leading operator and charterer of
modern, high-quality product and chemical tankers. Navios Acquisition’s principal focus
going forward is the transportation of refined petroleum products (clean and dirty) and
bulk liquid chemicals.
Passive Foreign Investment Company Status
Navios Acquisition was treated as a passive foreign investment company (“PFIC”) for its
2008 and 2009 taxable years. Based upon its expected income, assets and activities,
Navios Acquisition believes that it will be treated for United States federal income tax
purposes as a PFIC for the 2010 taxable year. For more information on PFIC issues,
please see Navios Acquisition’s website athttp://navios.com/AcquisitionCorporation.asp.
Risks and Uncertainties; Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the
federal securities laws. These forward-looking statements inherently involve risks and
uncertainties that are detailed in Navios Acquisition’s prospectus and other filings with
the Securities and Exchange Commission and, therefore, actual results could differ
materially from those projected in the forward-looking statements. Navios Acquisition
assumes no obligation to update publicly or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Public & Investor Relations Contact:
Navios Maritime Acquisition Corporation