News & Events zu Euroholdings Ltd (EHLD)EHLDEuroholdings Ltd

EuroHoldings reports Q2 EPS 30c vs. 81c last year

Reports Q2 revenue $2.9M vs. $4M last year. Aristides Pittas, Chaiman, President and CEO of Euroholdings commented: "We are pleased to report the results for the first half of 2025 of Euroholdings, a company spun-off from Euroseas Ltd., in March 2025, containing 2 elder containerships and the proceeds from the sale of a third one. As both our vessels have been profitably chartered, we are pleased to report profitable results according to our expectations and happy to announce the declaration of the second quarterly dividend representing an annualized yield of about 7.5%. "We are also happy to report that as announced in late June 2025, our shareholder base has been further strengthened as Marla Investments Inc., a company associated with the Latsis family of Greece, has acquired 51.04% of our shares with the Pittas family remaining a large shareholder as well. We believe that the combined financial strength of our major shareholders and their desire to grow Euroholdings will, indeed, enable our company to deliver superior returns to all of our shareholders. "In that context, our Board decided to focus our growth in the tanker sector and, initially, the medium range product tankers. Over the next several months, we will be gradually implementing this growth strategy targeting modern vessels. "In parallel, as the containership markets have remained strong, our feeder vessels may be rechartered beyond their current contracts contributing further earnings and value to our shareholders and further enabling the execution of our growth plan in the product tanker sector."

EuroHoldings sells 51.04% to Marla investments for $12.90 per share

EuroHoldings announced today that certain shareholders, all associated with the Pittas family, have entered into a stock purchase agreement and sold 51.04% of the company's outstanding common shares to Marla Investments, a company affiliated with the Latsis family. Members of the Pittas family retained approximately 7.6% ownership interest in the company immediately after the closing of the transaction. In connection with the transaction, the company has been asked by the sellers and the purchaser to facilitate the transfer of the sale and purchase of the shares by agreeing to amend the company shareholders' rights plan to permit the purchaser to become the beneficial owner of more than 15% of the company's issued and outstanding common shares, to consider two persons suggested by the purchaser to fill vacancies on the company's board of directors and to enter into a registration rights agreement with the purchaser relating to the acquired shares. No shares of the company were issued in the transaction. The consideration for the 1,437,697 shares sold was approximately $12.90 per share in cash. In addition, the purchaser agreed to pay the sellers certain amounts in cash payable quarterly in arrears, subject to the continued employment of the company's containerships M/V "Joanna" and M/V "Aegean Express" beyond their minimum employment period under their respective charter contracts. In connection with the transaction, two members of the board, Aristides Pittas and Anastasios Aslidis have resigned. Eurobulk Ltd, Eurochart S.A. and their affiliates will continue to provide executive, commercial and technical management services to the company. The company's existing management team will remain in place following the transaction. The company undertakings have been unanimously approved by the board and recommended by its special committee of the board comprised solely of disinterested directors. As a result of the actions by the board, George Margaronis and Christos Triantafillidis were appointed to fill the vacancies on the board created by the resignation of Pittas and Aslidis.