HAMILTON, Bermuda, April 23, 2007 (PRIME NEWSWIRE) — The Board of Sealift Ltd. (“Sealift” or the “Company”) is currently in discussion with another industry party about a strategic transaction. Consummation of the transaction is likely to improve short and long term earnings and thereby the valuation of the Sealift shares. The transaction might also include contribution of new equity at an issue price significantly higher than current OTC price.
The Board has in view of this investigated the possibility to suspend the trading of the Company’s shares on the OTC market until final outcome of these discussions is expected later in the week. Since such a suspension has been difficult to achieve the Board feel that it is proper to inform the market that essential strategic discussions are taking place. However no assurance can be given that a transaction will be completed.
The Board of Sealift Ltd 23rd April 2007