Anangel-American Shipholdings Limited Announces Result of Shareholder Meeting

Apr 03, 2001, 01:00 ET from Anangel-American Shipholdings Limited

    ATHENS, Greece, April 3 /PRNewswire/ --
 Anangel-American Shipholdings Limited (Nasdaq:   ASIPY), today announced that
 its shareholders on March 30, 2001 adopted an amendment to the Company's
 Articles of Association permitting the Company to distribute dividends out of
 its surplus paid in capital.  As a result, the Company reports that it will
 pay a $3.00 per share cash dividend to its shareholders of record as of
 April 30, 2001 on May 4, 2001 as follows:
 
      [a] $1.23 out of retained earnings, and
      [b] $1.77 out of surplus paid in capital.
 
     On the 22nd March, 2001 the Company took delivery of one of the new
 Panamaxes, the "Anangel Afovos" increasing the fleet to twenty four dry cargo
 vessels with an aggregate capacity of 2,031,777 DWT, all of which are
 employed.  Three Panamax bulk carriers remain on order with Daewoo Heavy
 Industries of Korea.
 
 

SOURCE Anangel-American Shipholdings Limited
    ATHENS, Greece, April 3 /PRNewswire/ --
 Anangel-American Shipholdings Limited (Nasdaq:   ASIPY), today announced that
 its shareholders on March 30, 2001 adopted an amendment to the Company's
 Articles of Association permitting the Company to distribute dividends out of
 its surplus paid in capital.  As a result, the Company reports that it will
 pay a $3.00 per share cash dividend to its shareholders of record as of
 April 30, 2001 on May 4, 2001 as follows:
 
      [a] $1.23 out of retained earnings, and
      [b] $1.77 out of surplus paid in capital.
 
     On the 22nd March, 2001 the Company took delivery of one of the new
 Panamaxes, the "Anangel Afovos" increasing the fleet to twenty four dry cargo
 vessels with an aggregate capacity of 2,031,777 DWT, all of which are
 employed.  Three Panamax bulk carriers remain on order with Daewoo Heavy
 Industries of Korea.
 
 SOURCE  Anangel-American Shipholdings Limited