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 October 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 Form 6-K as Exhibit 1 is the press release issued by Top Ships Inc. (the
“Company”) on October 9, 2008, announcing the extension through October 22, 2008
of the Company’s exclusivity agreement with an affiliate of George
Economou.
EXHIBIT
1
NEWS RELEASE for October 9,
2008
Contact: Michael
Mason (investors)
Allen & Caron Inc
212 691 8087
michaelm@allencaron.com
TOP
SHIPS INC. ANNOUNCES EXTENSION OF
EXCLUSIVITY
AGREEMENT
ATHENS, GREECE, October 9,
2008. TOP Ships Inc. (NasdaqGS:TOPS) (the “Company”) today announced
that it is continuing discussions with an affiliate of George Economou regarding
a possible acquisition of the Company. The exclusivity agreement
originally set to expire on October 8, 2008 has been extended through October
22, 2008. The potential acquirer has informed the Company that the
purchase price will be subject to further negotiations and will reflect
prevailing market conditions. All other terms and conditions of the
agreement remain unchanged.
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 drybulk transportation
services. The Company will operate a combined tanker and drybulk fleet as
follows:
|
|
n
|
A
fleet of seven double-hull handymax tankers, with a total carrying
capacity of approximately 0.3 million dwt, of which 58% are sister ships.
All of the Company's handymaxes will be on time charter
contracts with an average term of two years with all of the time charters
including profit sharing agreements above their base
rates.
|
|
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n
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Six
newbuilding product tankers, which are expected to be delivered in the
first half of 2009. All the expected newbuildings have fixed rate bareboat
employment agreements for periods between seven and ten
years.
|
|
|
n
|
A
fleet of five drybulk vessels with a total carrying capacity of
approximately 0.3 million dwt, of which 70% are sister ships. All of the
Company's drybulk vessels have fixed rate employment contracts for an
average period of 30 months.
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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. Neither party is under any obligation to negotiate
either a binding or nonbinding agreement, and there is no guarantee that if
negotiated, the transaction covered by a definitive agreement would
close.
Important factors that, in our view,
could affect the matters discussed in these forward-looking statements include,
general market conditions, including fluctuations in charter rates and vessel
values, changes in the demand for our vessels, offers that may be received from
third parties, 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)
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Dated: October
9, 2008
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By:
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/s/
Evangelos J. Pistiolis
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Evangelos
J. Pistiolis
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||||
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Chief
Executive Officer
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SK 23116 0001
926543