NewLead Holdings' CFO Quits
NewLead Holdings Ltd. announced yesterday that Antonios Bertsos has resigned as Chief Financial Officer of the Company in order to pursue other career opportunities. Antonios Bertsos will remain with the Company until the end of June 2015 to ensure a smooth transition. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "I would like to thank Antonis for his contribution to NewLead."
NewLead & Ironridge Global Reach Settlement
NewLead Holdings Ltd. announced today that the Company reached a full and final settlement with Ironridge Global IV ("Ironridge") on December 11, 2014 of all disputes between the parties. Pursuant to the settlement, the arbitration proceedings between the parties referred to in the Company's press release of June 5, 2014 has been discontinued, and the Share Subscription Agreement entered into on March 4, 2014 and the other related transaction documents, including the Series A Preference Shares, Promissory Notes and Irrevocable Letter of Instruction, have all been terminated
NewLead Takes Delivery of Eco-Type Handysize Vessel
NewLead Holdings Ltd. (NASDAQ: NEWL) said that "Newlead Albion", a 2012-built dry-bulk eco-type Handysize vessel of 32,318 dwt, was delivered to NewLead's fleet on Monday, May 19, 2014. The Newlead Albion is trading on the spot market and is expected to generate $2.0 million EBITDA per year assuming $1.73 million yearly OPEX. The Newlead Albion is one of the two eco-type vessels that the Company agreed to acquire in March 2014, as previously announced, for a total acquisition price of $37.0 million, $18.5 million each. Today, the market value of these vessels is estimated to be approxima
