Intrinsic value of Globus Maritime - GLBS

Previous Close

$0.41

  Intrinsic Value

$0.34

stock screener

  Rating & Target

hold

-16%

Previous close

$0.41

 
Intrinsic value

$0.34

 
Up/down potential

-16%

 
Rating

hold

We calculate the intrinsic value of GLBS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  59.90
  54.41
  49.47
  45.02
  41.02
  37.42
  34.18
  31.26
  28.63
  26.27
  24.14
  22.23
  20.51
  18.95
  17.56
  16.30
  15.17
  14.16
  13.24
  12.42
  11.67
  11.01
  10.41
  9.87
  9.38
  8.94
  8.55
  8.19
  7.87
  7.59
Revenue, $m
  23
  36
  53
  77
  109
  150
  201
  263
  339
  428
  531
  649
  782
  931
  1,094
  1,273
  1,466
  1,673
  1,895
  2,130
  2,378
  2,640
  2,915
  3,203
  3,503
  3,816
  4,142
  4,482
  4,835
  5,201
Variable operating expenses, $m
  48
  74
  110
  160
  225
  310
  416
  546
  702
  886
  1,100
  1,345
  1,620
  1,928
  2,266
  2,635
  3,035
  3,465
  3,924
  4,411
  4,926
  5,468
  6,037
  6,633
  7,255
  7,903
  8,579
  9,282
  10,013
  10,772
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  48
  74
  110
  160
  225
  310
  416
  546
  702
  886
  1,100
  1,345
  1,620
  1,928
  2,266
  2,635
  3,035
  3,465
  3,924
  4,411
  4,926
  5,468
  6,037
  6,633
  7,255
  7,903
  8,579
  9,282
  10,013
  10,772
Operating income, $m
  -25
  -38
  -57
  -83
  -117
  -160
  -215
  -282
  -363
  -458
  -569
  -695
  -838
  -997
  -1,172
  -1,363
  -1,570
  -1,792
  -2,029
  -2,281
  -2,547
  -2,828
  -3,122
  -3,430
  -3,752
  -4,087
  -4,437
  -4,800
  -5,178
  -5,571
EBITDA, $m
  -15
  -24
  -35
  -51
  -72
  -99
  -133
  -175
  -225
  -284
  -352
  -431
  -519
  -617
  -726
  -844
  -972
  -1,110
  -1,257
  -1,413
  -1,578
  -1,751
  -1,934
  -2,125
  -2,324
  -2,532
  -2,748
  -2,973
  -3,207
  -3,450
Interest expense (income), $m
  2
  2
  4
  6
  9
  14
  20
  27
  37
  48
  62
  78
  97
  119
  143
  170
  200
  233
  269
  307
  347
  391
  436
  484
  535
  587
  643
  700
  760
  822
  887
Earnings before tax, $m
  -27
  -42
  -63
  -92
  -130
  -180
  -242
  -319
  -411
  -520
  -647
  -793
  -957
  -1,140
  -1,342
  -1,563
  -1,803
  -2,061
  -2,336
  -2,628
  -2,938
  -3,264
  -3,606
  -3,965
  -4,339
  -4,730
  -5,137
  -5,560
  -6,000
  -6,458
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -27
  -42
  -63
  -92
  -130
  -180
  -242
  -319
  -411
  -520
  -647
  -793
  -957
  -1,140
  -1,342
  -1,563
  -1,803
  -2,061
  -2,336
  -2,628
  -2,938
  -3,264
  -3,606
  -3,965
  -4,339
  -4,730
  -5,137
  -5,560
  -6,000
  -6,458

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  151
  233
  348
  505
  711
  978
  1,312
  1,722
  2,215
  2,797
  3,472
  4,244
  5,114
  6,083
  7,151
  8,317
  9,579
  10,935
  12,383
  13,921
  15,546
  17,257
  19,053
  20,932
  22,896
  24,943
  27,075
  29,293
  31,599
  33,996
Adjusted assets (=assets-cash), $m
  151
  233
  348
  505
  711
  978
  1,312
  1,722
  2,215
  2,797
  3,472
  4,244
  5,114
  6,083
  7,151
  8,317
  9,579
  10,935
  12,383
  13,921
  15,546
  17,257
  19,053
  20,932
  22,896
  24,943
  27,075
  29,293
  31,599
  33,996
Revenue / Adjusted assets
  0.152
  0.155
  0.152
  0.152
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
  0.153
Average production assets, $m
  148
  228
  341
  494
  697
  957
  1,285
  1,686
  2,169
  2,739
  3,400
  4,155
  5,007
  5,957
  7,003
  8,144
  9,380
  10,708
  12,126
  13,631
  15,222
  16,898
  18,656
  20,497
  22,419
  24,424
  26,512
  28,684
  30,942
  33,289
Working capital, $m
  -8
  -12
  -18
  -26
  -37
  -51
  -68
  -89
  -115
  -145
  -180
  -220
  -265
  -316
  -371
  -431
  -497
  -567
  -642
  -722
  -806
  -895
  -988
  -1,086
  -1,188
  -1,294
  -1,404
  -1,519
  -1,639
  -1,763
Total debt, $m
  72
  115
  175
  256
  364
  502
  676
  889
  1,146
  1,448
  1,799
  2,201
  2,653
  3,157
  3,713
  4,319
  4,975
  5,680
  6,433
  7,233
  8,078
  8,967
  9,901
  10,879
  11,900
  12,964
  14,073
  15,226
  16,425
  17,672
Total liabilities, $m
  78
  121
  181
  262
  370
  508
  682
  895
  1,152
  1,454
  1,805
  2,207
  2,659
  3,163
  3,719
  4,325
  4,981
  5,686
  6,439
  7,239
  8,084
  8,974
  9,907
  10,885
  11,906
  12,970
  14,079
  15,232
  16,432
  17,678
Total equity, $m
  72
  112
  167
  242
  342
  469
  630
  826
  1,063
  1,342
  1,667
  2,037
  2,455
  2,920
  3,433
  3,992
  4,598
  5,249
  5,944
  6,682
  7,462
  8,283
  9,145
  10,048
  10,990
  11,973
  12,996
  14,061
  15,168
  16,318
Total liabilities and equity, $m
  150
  233
  348
  504
  712
  977
  1,312
  1,721
  2,215
  2,796
  3,472
  4,244
  5,114
  6,083
  7,152
  8,317
  9,579
  10,935
  12,383
  13,921
  15,546
  17,257
  19,052
  20,933
  22,896
  24,943
  27,075
  29,293
  31,600
  33,996
Debt-to-equity ratio
  1.000
  1.030
  1.050
  1.060
  1.070
  1.070
  1.070
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
Adjusted equity ratio
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -27
  -42
  -63
  -92
  -130
  -180
  -242
  -319
  -411
  -520
  -647
  -793
  -957
  -1,140
  -1,342
  -1,563
  -1,803
  -2,061
  -2,336
  -2,628
  -2,938
  -3,264
  -3,606
  -3,965
  -4,339
  -4,730
  -5,137
  -5,560
  -6,000
  -6,458
Depreciation, amort., depletion, $m
  9
  15
  22
  31
  44
  61
  82
  107
  138
  174
  217
  265
  319
  379
  446
  519
  597
  682
  772
  868
  970
  1,076
  1,188
  1,306
  1,428
  1,556
  1,689
  1,827
  1,971
  2,120
Funds from operations, $m
  -18
  -28
  -42
  -61
  -86
  -119
  -160
  -211
  -273
  -346
  -431
  -528
  -638
  -761
  -896
  -1,045
  -1,205
  -1,379
  -1,564
  -1,760
  -1,968
  -2,188
  -2,418
  -2,659
  -2,911
  -3,174
  -3,448
  -3,733
  -4,029
  -4,337
Change in working capital, $m
  -3
  -4
  -6
  -8
  -11
  -14
  -17
  -21
  -26
  -30
  -35
  -40
  -45
  -50
  -55
  -60
  -65
  -70
  -75
  -80
  -84
  -89
  -93
  -97
  -102
  -106
  -111
  -115
  -120
  -124
Cash from operations, $m
  -15
  -23
  -36
  -53
  -75
  -105
  -143
  -190
  -247
  -316
  -396
  -488
  -593
  -710
  -841
  -984
  -1,140
  -1,308
  -1,488
  -1,680
  -1,884
  -2,099
  -2,325
  -2,562
  -2,809
  -3,068
  -3,337
  -3,618
  -3,910
  -4,213
Maintenance CAPEX, $m
  -6
  -9
  -15
  -22
  -31
  -44
  -61
  -82
  -107
  -138
  -174
  -217
  -265
  -319
  -379
  -446
  -519
  -597
  -682
  -772
  -868
  -970
  -1,076
  -1,188
  -1,306
  -1,428
  -1,556
  -1,689
  -1,827
  -1,971
New CAPEX, $m
  -58
  -80
  -113
  -153
  -203
  -261
  -327
  -402
  -483
  -570
  -661
  -756
  -852
  -949
  -1,046
  -1,142
  -1,236
  -1,328
  -1,418
  -1,506
  -1,591
  -1,676
  -1,758
  -1,841
  -1,922
  -2,005
  -2,088
  -2,172
  -2,258
  -2,347
Cash from investing activities, $m
  -64
  -89
  -128
  -175
  -234
  -305
  -388
  -484
  -590
  -708
  -835
  -973
  -1,117
  -1,268
  -1,425
  -1,588
  -1,755
  -1,925
  -2,100
  -2,278
  -2,459
  -2,646
  -2,834
  -3,029
  -3,228
  -3,433
  -3,644
  -3,861
  -4,085
  -4,318
Free cash flow, $m
  -78
  -113
  -163
  -228
  -309
  -410
  -531
  -673
  -837
  -1,023
  -1,231
  -1,460
  -1,709
  -1,978
  -2,266
  -2,572
  -2,894
  -3,233
  -3,588
  -3,958
  -4,344
  -4,744
  -5,160
  -5,591
  -6,037
  -6,501
  -6,981
  -7,478
  -7,995
  -8,531
Issuance/(repayment) of debt, $m
  31
  43
  60
  81
  108
  138
  174
  213
  256
  303
  351
  401
  452
  504
  555
  606
  656
  705
  753
  800
  845
  890
  934
  977
  1,021
  1,065
  1,109
  1,153
  1,199
  1,246
Issuance/(repurchase) of shares, $m
  55
  81
  118
  167
  230
  308
  402
  515
  648
  799
  971
  1,163
  1,374
  1,605
  1,855
  2,123
  2,409
  2,711
  3,031
  3,366
  3,718
  4,085
  4,468
  4,867
  5,282
  5,712
  6,160
  6,625
  7,107
  7,608
Cash from financing (excl. dividends), $m  
  86
  124
  178
  248
  338
  446
  576
  728
  904
  1,102
  1,322
  1,564
  1,826
  2,109
  2,410
  2,729
  3,065
  3,416
  3,784
  4,166
  4,563
  4,975
  5,402
  5,844
  6,303
  6,777
  7,269
  7,778
  8,306
  8,854
Total cash flow (excl. dividends), $m
  8
  11
  16
  21
  28
  36
  45
  55
  67
  79
  91
  104
  118
  131
  144
  157
  170
  183
  196
  208
  219
  231
  243
  254
  265
  276
  288
  300
  311
  324
Retained Cash Flow (-), $m
  -55
  -81
  -118
  -167
  -230
  -308
  -402
  -515
  -648
  -799
  -971
  -1,163
  -1,374
  -1,605
  -1,855
  -2,123
  -2,409
  -2,711
  -3,031
  -3,366
  -3,718
  -4,085
  -4,468
  -4,867
  -5,282
  -5,712
  -6,160
  -6,625
  -7,107
  -7,608
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -48
  -70
  -103
  -146
  -202
  -272
  -357
  -460
  -581
  -721
  -880
  -1,059
  -1,257
  -1,474
  -1,711
  -1,966
  -2,238
  -2,528
  -2,835
  -3,159
  -3,499
  -3,854
  -4,226
  -4,613
  -5,016
  -5,436
  -5,872
  -6,325
  -6,796
  -7,285
Discount rate, %
  8.90
  9.35
  9.81
  10.30
  10.82
  11.36
  11.93
  12.52
  13.15
  13.81
  14.50
  15.22
  15.98
  16.78
  17.62
  18.50
  19.43
  20.40
  21.42
  22.49
  23.61
  24.80
  26.03
  27.34
  28.70
  30.14
  31.65
  33.23
  34.89
  36.63
PV of cash for distribution, $m
  -44
  -59
  -78
  -99
  -121
  -142
  -162
  -179
  -191
  -198
  -198
  -193
  -183
  -168
  -150
  -130
  -109
  -89
  -71
  -55
  -41
  -29
  -21
  -14
  -9
  -6
  -4
  -2
  -1
  -1
Current shareholders' claim on cash, %
  35.7
  13.7
  5.5
  2.2
  1.0
  0.4
  0.2
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Globus Maritime Limited is a drybulk shipping company, providing marine transportation services on a worldwide basis. As of March 22, 2016, the Company own five modern drybulk carriers, consisting of one Panamax, and four Supramax vessels with a weighted average age of approximately 8.1 years and a total carrying capacity of 300,571 Deadweight Tons (dwt). The Company operates six modern drybulk carriers, consisting of one Kanasarmax, one Panamax, and four Supramex vessels.

FINANCIAL RATIOS  of  Globus Maritime (GLBS)

Valuation Ratios
P/E Ratio -0.1
Price to Sales 0.1
Price to Book 0.1
Price to Tangible Book
Price to Cash Flow -0.3
Price to Free Cash Flow -0.3
Growth Rates
Sales Growth Rate -30.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 200%
Total Debt to Equity 314.3%
Interest Coverage -4
Management Effectiveness
Return On Assets -7.7%
Ret/ On Assets - 3 Yr. Avg. -9%
Return On Total Capital -10.2%
Ret/ On T. Cap. - 3 Yr. Avg. -11%
Return On Equity -38.5%
Return On Equity - 3 Yr. Avg. -33.9%
Asset Turnover 0.1
Profitability Ratios
Gross Margin -44.4%
Gross Margin - 3 Yr. Avg. -14.8%
EBITDA Margin -33.3%
EBITDA Margin - 3 Yr. Avg. -58.5%
Operating Margin -77.8%
Oper. Margin - 3 Yr. Avg. -93.9%
Pre-Tax Margin -111.1%
Pre-Tax Margin - 3 Yr. Avg. -115.2%
Net Profit Margin -111.1%
Net Profit Margin - 3 Yr. Avg. -115.2%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

GLBS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GLBS stock intrinsic value calculation we used $14.423 million for the last fiscal year's total revenue generated by Globus Maritime. The default revenue input number comes from 0001 income statement of Globus Maritime. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GLBS stock valuation model: a) initial revenue growth rate of 59.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.9%, whose default value for GLBS is calculated based on our internal credit rating of Globus Maritime, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Globus Maritime.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GLBS stock the variable cost ratio is equal to 207.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GLBS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Globus Maritime.

Corporate tax rate of 27% is the nominal tax rate for Globus Maritime. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GLBS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GLBS are equal to 640%.

Life of production assets of 15.7 years is the average useful life of capital assets used in Globus Maritime operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GLBS is equal to -33.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $43.968 million for Globus Maritime - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 32.014 million for Globus Maritime is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Globus Maritime at the current share price and the inputted number of shares is $0.0 billion.

RELATED COMPANIES Price Int.Val. Rating
ESEA Euroseas 1.45 1.04  sell
DRYS DryShips 5.42 1.79  str.sell
SBLK Star Bulk Carr 12.90 4.24  str.sell
DSX Diana Shipping 3.94 1.45  str.sell
SHIP Seanergy Marit 0.880 5.03  str.buy
DCIX Diana Containe 1.20 3.14  str.buy

COMPANY NEWS

▶ Globus Maritime Announces Annual Meeting of Shareholders   [Aug-02-18 09:00AM  GlobeNewswire]
▶ Globus Maritime Announces Exercise of Warrants   [Feb-05-18 04:05PM  GlobeNewswire]
▶ Globus Maritime Announces Exercise of Warrants   [Dec-22-17 09:00AM  GlobeNewswire]
▶ Globus Maritime Announces Exercise of Warrants   [Nov-13-17 04:05PM  Marketwired]
▶ Globus Maritime Announces Exercise of Warrants   [Sep-27-17 09:00AM  Marketwired]
▶ Globus Maritime Announces Annual Meeting of Shareholders   [Aug-02-17 01:00PM  Marketwired]
▶ Nasdaq Scheduled Resumption in Globus Maritime Limited   [Nov-28-16 03:20PM  GlobeNewswire]
▶ Nasdaq Halts Globus Maritime Limited   [02:09PM  GlobeNewswire]
▶ Shipping shares drop after Seanergy Maritime offer   [Nov-18-16 02:13PM  Reuters]
▶ Shipping stocks on track for big bounces   [09:21AM  at MarketWatch]
▶ Shipping stocks soar as bears abandon ship   [07:30AM  at MarketWatch]
▶ Globus Maritime Limited Announces Reverse Stock Split   [Oct-10-16 11:00AM  Marketwired]
▶ Globus Maritime Appoints New Non-Executive Director   [Sep-19-16 09:05AM  Marketwired]
▶ Globus Maritime Announces Annual Meeting of Shareholders   [Aug-02-16 09:00AM  Marketwired]
▶ GLOBUS MARITIME LTD Financials   [May-06-16 01:04PM  EDGAR Online Financials]
▶ Globus Maritime Limited Reclassifies Board Member   [Feb-05-16 04:05PM  Marketwired]
▶ Globus Maritime Limited Announces Management Change   [Dec-28  09:15AM  Marketwired]

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