Euroseas Ltd. Announces the Results of Its 2018 Annual General Meeting of Shareholders

MAROUSSI, ATHENS, Greece, June 26, 2018 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ:ESEA) (the "Company"), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, today announced the official results of its 2018 Annual General Meeting, held on June 22, 2018 at 10:30 a.m. local time in New York, NY USA.  The following proposals were approved by the Company's shareholders:

1. Mr. Panagiotis Kyriakopoulos was re-elected as the Class B Director to serve for a term of three years until the 2021 Annual Meeting of Shareholders ("Proposal One");
   
   
   
   
2. An amendment to the Company's Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's issued and outstanding shares of common stock by a ratio of between one-for-two and one-for-ten, inclusive, to be determined by the Company's Board of Directors in its discretion, and to authorize the Company's Board of Directors to implement the reverse stock split at any time prior to the Company's 2019 Annual Meeting of Shareholders by filing such amendment with the Registrar of Corporations of the Republic of the Marshall Islands (“Proposal Two”); and
   
   
   
   
3. Deloitte Certified Public Accountants, S.A. was approved as the Company's independent auditors for the fiscal year ending December 31, 2018 ("Proposal Three").

About Euroseas Ltd.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the Nasdaq Capital Market under the ticker symbol ESEA.

Euroseas operates in the container shipping markets. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., which are responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. 

The Company has a fleet of 11 vessels in the water, including ten Feeder containerships and one Intermediate containership. Euroseas’ eleven containerships have a total cargo capacity of 25,483 teu.

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