The shareholders of ISHP, or at least 99.99% of them, voted in favor of the acquisition of Navios Maritime Holdings. The acquisition is scheduled to close on August 25.
Stockholders of International Shipping Enterprises, Inc. Approve Acquisition of Navios Maritime Holdings Inc.; Closing Scheduled for August 25, 2005
Tuesday August 23, 12:18 pm ET
NEW YORK, Aug. 23 /PRNewswire-FirstCall/ -- International Shipping Enterprises, Inc. ("ISE") (OTC Bulletin Board: ISHPU.OB - News, ISHP.OB - News, ISHPW.OB - News) announced today that its stockholders had overwhelmingly approved the contemplated acquisition by ISE of Navios Maritime Holdings Inc. and the reincorporation of ISE from Delaware to the Republic of Marshall Islands. A total of 31,167,297 of the issued and outstanding shares of the company voted, out of which 99.99% voted in favor of the acquisition and 97.31% voted in favor of the reincorporation. The closing of the transaction and the related bank financing is scheduled for August 25, 2005.
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