TOP Ships entered into an exclusivity agreement

TOP Ships Inc (Greece) announced today that it has entered into an exclusivity agreement with an affiliate of George Economou, the Greek shipowner, providing for the exploration by such affiliate of the possible acquisition of the Company at a potential price of $6.00 per share.  The exclusivity agreement expires on October 8, 2008.  The exclusivity agreement also provides that the Company has agreed to reimburse such affiliate’s out of pocket expenses, up to $1.0 million, in certain circumstances.

Source:Transportweekly