FORM
6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
the month of March 2008
Commission
File Number
TOP
SHIPS INC.
(Translation
of registrant’s name into English)
1
VAS. SOFIAS & MEG.
ALEXANDROU
STREET
151
24, MAROUSSI
ATHENS,
GREECE
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form
20-F [ X ] Form 40-F
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ___
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)7: ___
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes
[ ] No [ X ]
If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): ________.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached
to this report on Form 6-K as Exhibit 1 is the press release issued by
Top Ships Inc. (the “Company”) on March 7, 2008, announcing the release
date of fourth quarter and year-end 2007 results and conference
call. Attached hereto as Exhibit 2 is the Company’s press release
dated March 7, 2008, announcing the delivery of the fifth drybulk vessel, M/V
PEPITO.
EXHIBIT
1
NEWS RELEASE for March 7,
2008
|
Contact:
|
Michael
Mason (investors)
|
Stamatis
Tsantanis, CFO
|
|
Allen
& Caron Inc
|
TOP
Ships Inc.
|
|
|
212
691 8087
|
011
30 210 812 8199
|
|
|
michaelm@allencaron.com
|
snt@topships.org
|
TOP
SHIPS ANNOUNCES DATE OF FOURTH QUARTER AND YEAR-END 2007 RESULTS RELEASE AND
CONFERENCE CALL
ATHENS,
GREECE (March 7, 2008) … TOP Ships Inc. (NasdaqGS:TOPS) announced plans to
release its fourth quarter and year-end 2007 results on Thursday, March 13,
2008, before market opening. That same day, at 11:00 AM ET, management will host
a conference call, which will be broadcast live over the Internet. Those
interested in listening to the live webcast may do so by going to the Company’s
website at www.topships.org,
or by going to www.investorcalendar.com.
The
telephonic replay of the conference call will be available by dialing
1-877-660-6853 (from the US and Canada) or +1-201-612-7415 (from outside the US
and Canada) and by entering account number 286 and conference ID number 277433.
An online archive will also be available immediately following the call at the
sites noted above. Both are available for one week, through March 20,
2008.
About TOP Ships
Inc.
TOP
Ships Inc., formerly known as TOP Tankers Inc., is an international provider of
worldwide seaborne crude oil and petroleum products and of drybulk
transportation services. The Company operates a combined tanker and drybulk
fleet as follows:
|
●
|
a
fleet of 18 tankers, consisting of 10 double-hull Suezmax tankers and 8
double-hull Handymax tankers, with a total carrying capacity of
approximately 1.8 million dwt, of which 85% are sister ships. Eleven of
the Company’s 18 tankers are on time charter contracts with an average
initial term of over two years with all but three of the time charters
including profit sharing agreements above their base rates. In addition,
the Company has ordered six newbuilding product tankers, which are
expected to be delivered in the first half of 2009.
|
|
|
●
|
a
fleet of five drybulk vessels with delivery of one additional drybulk
vessel expected during March/April 2008. Including this vessel,
three of the Company’s six drybulk vessels will have period charter
contracts for an average period of 18
months.
|
Forward Looking
Statement
Certain
statements and information included in this release constitute “forward-looking
statements” within the meaning of the Federal Private Securities Litigation
Reform Act of 1995. The Private Securities Litigation Reform Act of
1995 provides safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their
business. Forward-looking statements reflect our current views with
respect to future events and financial performance and may include statements
concerning plans, objectives, goals, strategies, future events or performance,
and underlying assumptions and other statements, which are other than statements
of historical facts.
The
Company desires to take advantage of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,”
“will,” “may,” “should,” “expect,” “pending” and similar expressions identify
forward-looking statements. The forward-looking statements in this press release
are based upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, our management’s examination
of historical operating trends, data contained in our records and other data
available from third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
In
addition to these important factors, other important factors that, in our view,
could cause actual results to differ materially from those discussed in the
forward-looking statements include possible shareholder objections to the
settlement of the class action, possible shareholder opt outs from the
settlement, possible disapproval of the Court of the settlement, possible
shareholder class appeals of the settlement and adverse outcomes on appeal,
general market conditions, including fluctuations in charter rates and vessel
values, changes in the demand for our vessels, potential liability from pending
or future litigation, general domestic and international political conditions,
and other factors. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks and
uncertainties.
EXHIBIT
2
NEWS RELEASE for March 7,
2008
|
Contact:
|
Michael
Mason (investors)
|
Stamatis
Tsantanis, CFO
|
|
Allen
& Caron Inc.
|
TOP
Ships Inc.
|
|
|
212
691 8087
|
011
30 210 812 8199
|
|
|
michaelm@allencaron.com
|
snt@topships.org
|
TOP
SHIPS ANNOUNCES DELIVERY OF THE FIFTH DRYBULK VESSEL
ATHENS,
GREECE (March 7, 2008) … TOP Ships Inc. (NasdaqGS:TOPS) announced that it has
taken delivery of the M/V PEPITO, a 75,928 dwt Panamax drybulk vessel, built in
2001 in Japan. The vessel has been financed with secured bank debt.
The M/V PEPITO is the fifth of six
drybulk vessel deliveries for the fourth quarter 2007 and first quarter 2008.
The PEPITO has entered into a time-charter employment for a period of
60-70 days at a daily net rate of $55,000.
About TOP Ships
Inc.
TOP
Ships Inc., formerly known as TOP Tankers Inc., is an international provider of
worldwide seaborne crude oil and petroleum products and of drybulk
transportation services. The Company operates a combined tanker and drybulk
fleet as follows:
|
●
|
a
fleet of 18 tankers, consisting of 10 double-hull Suezmax tankers and 8
double-hull Handymax tankers, with a total carrying capacity of
approximately 1.8 million dwt, of which 85% are sister ships. Eleven of
the Company’s 18 tankers are on time charter contracts with an average
initial term of over two years with all but three of the time charters
including profit sharing agreements above their base rates. In addition,
the Company has ordered six newbuilding product tankers, which are
expected to be delivered in the first half of 2009.
|
|
|
●
|
a
fleet of five drybulk vessels with delivery of one additional drybulk
vessel expected during March/April 2008. Including this vessel,
three of the Company’s six drybulk vessels will have period charter
contracts for an average period of 18
months.
|
Forward Looking
Statement
Certain
statements and information included in this release constitute “forward-looking
statements” within the meaning of the Federal Private Securities Litigation
Reform Act of 1995. The Private Securities Litigation Reform Act of
1995 provides safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their
business. Forward-looking statements reflect our current views with
respect to future events and financial performance and may include statements
concerning plans, objectives, goals, strategies, future events or performance,
and underlying assumptions and other statements, which are other than statements
of historical facts.
The
Company desires to take advantage of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,”
“will,” “may,” “should,” “expect,” “pending” and similar expressions identify
forward-looking statements. The forward-looking statements in this press release
are based upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, our management’s examination
of historical operating trends, data contained in our records and other data
available from third parties. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
In
addition to these important factors, other important factors that, in our view,
could cause actual results to differ materially from those discussed in the
forward-looking statements include possible shareholder objections to the
settlement of the class action, possible shareholder opt outs from the
settlement, possible disapproval of the Court of the settlement, possible
shareholder class appeals of the settlement and adverse outcomes on appeal,
general market conditions, including fluctuations in charter rates and vessel
values, changes in the demand for our vessels, potential liability from pending
or future litigation, general domestic and international political conditions,
and other factors. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks and
uncertainties.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
TOP SHIPS
INC.
(registrant)
|
Dated: March
7, 2008
|
By:
|
/s/
Evangelos J. Pistiolis
|
|
Evangelos
J. Pistiolis
|
||
|
Chief
Executive Officer
|
SK 23116 0001
862309