Exhibit 99.2
Dated: 21
November 2018
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GLOBUS MARITIME LIMITED
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(1)
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and
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FIRMENT SHIPPING INC.
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(2)
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AGREEMENT
For a Revolving Credit Facility
of up to US Dollars $15,000,000.00
This Agreement is dated
21 November
2018
and made BETWEEN:
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(1)
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GLOBUS MARITIME LIMITED,
a corporation duly domesticated in the Republic of the Marshall
Islands, having its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960,
Marshall Islands, whose Common Stock (as defined below) is currently listed on the ‘Nasdaq Capital Market’ under the
trading symbol “GLBS” (the “
Borrower
”);
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(2)
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FIRMENT SHIPPING INC.,
a corporation duly incorporated in the Republic of the Marshall Islands
and having its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960, Marshall
Islands (the “
Lender
”);
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NOW IT IS HEREBY AGREED as follows:
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1.
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DEFINITIONS AND INTERPRETATION
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Unless the context otherwise requires or
unless otherwise defined herein, the words and expressions specified below shall have the meaning attributed to them below:
“Common Stock”
means
shares of common stock, par value US$0.004 per share, of the Borrower,
“Conversion Price”
shall
equal to the higher of (i) the average of the daily VWAPs over the Pricing Period multiplied by 80%, where the “Pricing Period”
equals the ten (10) consecutive Trading Days immediately preceding the date on which the Conversion Notice was executed, or (ii)
Two US Dollars and Eighty Cents (US$ 2.80);
“Principal Market”
means
any market tier of the Nasdaq Stock Market, the New York Stock Exchange, the OTC Bulletin Board or such other principal market
or exchange on which the Common Stock is then listed for trading.
“Trading Day”
means
any day on which the Common Stock is traded on the Principal Market; provided that “Trading Day” shall not include
any day on which the Common Stock is scheduled to trade on the Principal Market for less than 4.5 hours or any day that the Common
Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does
not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New
York City time).
“VWAP”
means the daily
dollar volume-weighted average sale price for the Common Stock on the Principal Market on any particular Trading Day during the
period beginning at 9:30 a.m., New York City time (or such other time as the Principal Market publicly announces is the official
open of trading), and ending at 4:00:00 p.m., New York City time (or such other time as the Principal Market publicly announces
is the official close of trading), as reported by Bloomberg through its “Average Quote Recap” functions or, if the
foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic
bulletin board for such security during the period beginning at 9:30 a.m., New York City time (or such other time as the Principal
Market publicly announces is the official open of trading), and ending at 4:00 p.m., New York City time (or such other time as
the Principal Market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted
average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest
closing ask price of any of the market makers for such security as reported by the OTC Markets and if the above prices/rates are
not reported by Bloomberg the Company may in good faith specify another page or service which publishes the relevant prices/rates
from time to time in place of Bloomberg. All such determinations of VWAP shall to be appropriately and equitably adjusted in accordance
with the provisions set forth herein for any stock dividend, stock split, stock combination or other similar transaction occurring
during any period used to determine the Conversion Price.
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2.
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REVOLVING CREDIT FACILITY- PURPOSE
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2.01
This Agreement sets out
the terms and conditions upon and subject to which the Lender, which is a shareholder of the Borrower, shall make available to
the Borrower a revolving credit facility of up to US Dollars Fifteen million (US$15,000,000.00) (the “
Facility
”
and such term shall mean the principal amount owing to the Lender at any relevant time) during a period starting on the date hereof
and ending on 19 November 2020 to be used by the Borrower for general working capital purposes. The Lender shall not be obliged
to monitor or verify how the proceeds of the Facility or part thereof have been used by the Borrower.
3.01 (Utilisation of the Facility
)
The Facility shall be advanced by the Lender to the Borrower in advances (each advance of the Facility is hereinafter called:
the “
Advance
” and the principal amount owing in respect of each Advance at any relevant time is hereinafter
called: the “
Loan
” or, as the case may be the “
Loans
”) following receipt by the Lender of
a written notice from the Borrower in form and substance reasonably satisfactory to the Lender (the “
Utilisation
Request
”). Subject to the following conditions, the Borrower may serve a Utilisation Request not later than three (3)
banking days prior to the intended date on which the Borrower requests that the relevant Advance be made available (the “
Drawdown
Date
”). A Utilisation Request shall be signed by an authorised representative of the Borrower and once served, such Utilisation
Request cannot be revoked without the prior written consent of the Lender.
3.02
(
Conditions of Utilisation
)
The conditions referred to in Clause 3.01 are that:
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(a)
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the amount of each Advance shall be a multiple of US$100,000.00 and shall not exceed the amount
of the Facility;
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(b)
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the aggregate amount of all the Loans outstanding at any time shall not exceed the amount of the
Facility;
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(c)
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the conditions set out in Clause 9 (as applicable to the relevant Utilisation Request) have
been complied with, by the Borrower.
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4.01
(
Interest Rate and
Computation)
The Borrower shall pay interest at a rate of seven percent (7%) per annum on each Loan on the last day of
each period of three months. The first interest payment date shall be the last day of a period of three (3) months after the
Drawdown Date of the relevant Advance. All interest and other payments periodic or payable by reference to a rate per annum under
this Agreement shall accrue from day to day and be calculated on the basis of actual number of days elapsed and a three hundred
and sixty (360) day year.
4.02
(
Default Interest
)
In case of failure of the Borrower to pay any sum due under this Agreement, the Borrower shall pay default interest on such sum
from the due date or, as the case may be the date of the demand up to the date of actual payment (as well after as before
judgment) at the rate of two percent (2%) per annum above the interest rate provided for in Clause 4.01.
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5.
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REPAYMENT- VOLUNTARY PREPAYMENT
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5.01 (Repayment)
The aggregate of all the Loans, interest accrued thereon, costs and all other sums owing and outstanding under this Agreement shall
be repaid in full in one lump sum not later than 20 November 2020 (the “
Final Maturity Date
”). On the Final
Maturity Date, the Facility will be deemed automatically cancelled and revoked without any further notice to the Borrower and no
amount may be re-borrowed on or after the Final Maturity Date. On the Final Maturity Date any interest owing and unpaid, costs
and any other amounts owing under this Agreement shall be due and payable in full.
5.02
(
Voluntary Prepayment
)
The Borrower shall have the right at any time, to prepay a Loan or part thereof together with all unpaid interest accrued thereon
and all other sums of money whatsoever due and owing from the Borrower to the Lender under such Loan. In case the Borrower elects
to prepay part of the Loan, such prepayment can only be made in multiples of US$100,000.00. Unless a contrary indication appears
in this Agreement, any Loan or part thereof which is prepaid may be re-borrowed in accordance with the terms of this Agreement.
6.01 (Payment)
All moneys to
be paid by the Borrower under this Agreement shall be paid to the Lender in same day immediately available Dollar funds to an account
of the Lender to be notified by it to the Borrower.
6.02 (Payments on Banking Days)
All payments due shall be made on a day on which banks and financial markets are opened for business of the nature contemplated
by this Agreement in New York and at the place of payment specified by the parties (“
Banking Day
”). If
the due date for payment falls on a day which is not a Banking Day, the payment or payments which is due shall be made on the first
Banking Day thereafter, provided that this falls in the same calendar month. If it does not, payments shall fall due and be made
on the last Banking Day before the said due date.
6.03 (No withholdings - Gross up)
All payments to be made by the Borrower shall be made in full, without set-off or counterclaim whatsoever, and free and clear of,
and without withholding or deduction for-, or on account of- taxes or withholdings and any restrictions or conditions resulting
in any charge whatsoever imposed, either now or hereafter, by any legal or regulatory provisions at the place of payment or receipt
of any amount payable under this Agreement; and the Borrower shall pay to the Lender such additional amounts as may be necessary
to ensure that the Lender will receive a net amount equal to the full amount which would have been received had payment not been
made, subject to such deductions, charges or withholdings.
7.01 (Ability to Convert)
Subject
to the terms hereof and restrictions and limitations contained herein, at any time during the term of this Agreement, the Borrower
(but not the Lender) shall have the right, in its sole option, to convert in whole or in part the outstanding unpaid principal
amount and accrued but unpaid interest under this Agreement into Common Stock by delivering to the Lender, a fully executed notice
of conversion in the form of conversion notice attached hereto as Exhibit A (the
“Conversion Notice”
), which
may be transmitted by email or facsimile. The Conversion Notice may be sent regardless of whether the Borrower is in default hereunder
or an Event of Default has occurred and remains uncured. For the avoidance of doubt, any prepayment of principal and any payment
of accrued interest shall reduce the amount that can be converted into Common Stock.
7.02 (Common Stock Issuance upon Conversion)
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(a)
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Conversion Procedures
. Upon conversion of the unpaid principal and accrued but unpaid interest
pursuant to Clause 7.01 above, the outstanding principal amount and accrued but unpaid interest being converted hereunder shall
be converted into such number of fully paid, validly issued and non-assessable shares of Common Stock, free of any liens, claims
and encumbrances, as is determined by dividing the outstanding principal amount and accrued but unpaid interest being converted
by the then applicable Conversion Price. The Lender and the Borrower shall maintain records showing the outstanding principal amount
and accrued but unpaid interest so converted and repaid and the dates of such conversions or repayments or shall use such other
method, reasonably satisfactory to the Lender and the Borrower, so as not to require amendment of this Agreement or other similar
action upon each such conversion or repayment.
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(b)
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Stock Certificates or Statements
. The Borrower will deliver to the Lender (or its
designee) not later than five (5) Trading Days after receipt of the Conversion Notice, a certificate or certificates, representing
the number of shares of Common Stock being acquired upon the conversion described herein or the Borrower may cause its transfer
agent to electronically transmit such shares issuable upon conversion to the Lender (or its designee), by crediting the account
of the Lender’s (or such designee’s) prime broker with the Depository Trust Company through its Deposit Withdrawal
Agent Commission system or the Borrower may issue the shares of Common Stock in uncertificated form.
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(c)
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Notwithstanding anything herein to the contrary, no shares of Common Stock may be issued at a conversion
price per share less than the par value of one share of Common Stock.
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7.03 (Conversion Price Adjustments)
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(a)
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Stock Dividends, Splits and Combinations
. If the Borrower determines a record date
for any stock dividend, stock split, stock combination or other similar transaction after the Conversion Notice is sent but prior
to the issuance of the relevant shares pursuant to the conversion described in such Conversion Notice, then the Borrower will make
an appropriate adjustment to the Conversion Price to protect the rights of the Lender and the Borrower, and not to be overly benefitted
(or be overly burdened) by such event, as if the stock dividend, stock split, stock combination or other similar transaction concluded
immediately prior to the date the Conversion Notice was sent.
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(b)
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Rounding of Adjustments
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All calculations under this Clause 7.03 shall be made
to the nearest 4 decimal places or the nearest 1/100th of a share, as the case may be.
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7.04 (Fractions)
Upon a conversion
hereunder the Borrower shall not be required to issue stock certificates representing fractions of shares of Common Stock, but
may if otherwise permitted, make a cash payment in respect of any final fraction of a share based on the closing price of a share
of Common Stock at such time. If the Borrower elects not, or is unable, to make such a cash payment, the Lender shall be entitled
to receive, in lieu of the final fraction of a share, one whole share of Common Stock.
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8.
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REPRESENTATIONS AND WARRANTIES
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8.01
The Borrower makes the
representations and warranties set out in this Clause to the Lender on the date of this Agreement and covenants that the said representations
and warranties shall remain true and correct during the term of this Agreement:
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(a)
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The Borrower is a duly domesticated corporation validly existing under the laws of its jurisdiction
of domestication;
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(b)
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The Borrower is listed on the Nasdaq Stock Market as a foreign private issuer;
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(c)
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The Borrower has the power and authority to execute, deliver and perform its obligations under
this Agreement and the transactions contemplated hereunder. No limit on its powers will be exceeded as a result of the borrowing
contemplated by this Agreement; and
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(d)
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The Borrower's obligations under this Agreement are legal, valid, binding and enforceable in accordance
with its terms and do not contravene any other obligations of the Borrower.
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9.01
The obligation of the
Lender to make the first Advance or part thereof available to the Borrower, shall be subject to the conditions that prior to and/or
simultaneously with the delivery of the first Utilisation Request, the Lender shall have received the following documents and evidence
in form and substance satisfactory to the Lender and (if required by the Lender) certified, notarised, legalised or attested in
a manner acceptable to the Lender:
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(i)
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A recent Certificate of Incumbency of the Borrower signed by the secretary or a director of the
Borrower stating its officers and/or its directors and confirming that there has been no change to the documents relating to its
constitution;
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(ii)
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Minutes of Meetings of the directors (or a committee of the board of directors) of the Borrower
at which the entry into, execution, delivery and performance of this Agreement and any other ancillary documents executed or to
be executed pursuant thereto (to which the Borrower is a party) have been approved; and
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(iii)
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Any other evidence, as the Lender may require, of the due authority of any person signing this
Agreement, and any other documents executed or to be executed pursuant hereto or thereto on behalf of the Borrower.
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9.02
The obligation of the Lender
to allow any further use of the Facility or part thereof shall be subject to the conditions that prior to and/or simultaneously
with the delivery of the relevant Utilisation Request:
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(i)
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the representations and warranties set out in Clause 8 are true and correct on and as of each such
time as if each was made with respect to the facts and circumstances existing at such time;
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(ii)
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any consent or permit as may be required has been obtained and remains valid; and
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(iii)
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no Event of Default shall have occurred and be continuing or would result from the drawdown of
an Advance.
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The Borrower covenants with the Lender
that, as of the date of this Agreement until all its liabilities under this Agreement have been discharged:
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(a)
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The Borrower, upon written request by the Lender, shall deliver to the Lender certified copies
of all audited annual statements and all quarterly reports as soon as they are available, together with all other information that
the Lender may reasonably require concerning the Borrower or its business, unless such information is available on the Borrower’s
website or the U.S. Securities and Exchange Commission’s website.
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(b)
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The Borrower shall promptly, after becoming aware of them, notify the Lender of any litigation,
arbitration or administrative proceedings or claim.
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(c)
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The Borrower shall promptly obtain all consents or authorisations necessary (and do all that
is needed to maintain them in full force and effect) under any law or regulation to enable it to perform its obligations under
this Agreement.
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(d)
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The Borrower shall notify the Lender of any Event of Default (and the steps, if any, being
taken to remedy it) promptly on becoming aware of its occurrence.
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(e)
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The Borrower shall carry on and conduct its business in a proper and efficient manner and will
not make any substantial change to the general nature or scope of its business as carried on at the date of this Agreement.
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(f)
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The Borrower shall continue to comply with all listing requirements with the Nasdaq Stock Market
and applicable securities laws and regulations and make all required filings (including but not limited to filings pertaining
to the consummation of this Agreement).
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(g)
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The Borrower shall ensure that its obligations under this Agreement shall at all times rank at
least pari passu with all its other present and future unsecured and unsubordinated indebtedness with the exception of any obligations
which are mandatorily preferred by law and not by contract.
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11.01
(
Events of Default
)
There shall be an Event of Default whenever any of the following events occurs:
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(a)
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Failure by the Borrower to pay any sum due from the Borrower under this Agreement when due, or,
in the case of any sum payable on demand, within five (5) Banking Days of such demand; or
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(b)
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The Borrower fails (other than by failing to pay) to comply with any provision of this Agreement
and (if in the Lender’s reasonable opinion that the default is capable of remedy) such default is not remedied within
fourteen (14) Business Days of the Borrower’s CEO having actual knowledge of the default; or
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(c)
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The ownership, beneficial ownership, control or management of the Borrower or any share therein
is substantially changed and in particular so that Mr. Athanasios (“Thanos”) Feidakis is no longer the Chief Executive
Officer (“CEO”) of the Borrower and that the equity interest held directly or indirectly by the current major shareholder
of the Borrower and its affiliates in the share capital of the Borrower falls at any time and for any reason whatsoever below forty
percent (40%) of the voting securities or economic interest in the Borrower, other than due to actions taken by the current major
shareholder of the Borrower and its affiliates (such as sale of shares by such major shareholder); or
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(d)
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The Borrower is adjudicated or found bankrupt or insolvent by any court of competent jurisdiction
or any order is made by any competent court or resolution passed by the Borrower or petition presented for the winding-up or dissolution
of the Borrower or for the appointment of a liquidator, trustee, administrator or conservator of the whole or any part of the undertakings,
assets, rights or revenues of the Borrower or the Borrower suspends or ceases or threatens to suspend or cease to carry on its
business; or
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(e)
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Any provision of this Agreement is or becomes, for any reason, invalid, unlawful, unenforceable,
terminated or ceases to be effective or to have full force and effect.
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11.02 (Consequences of Default)
Without limitation to any other rights of the Lender under the applicable laws and regulations and/or this Agreement, the Lender
may at any time after the occurrence of an Event of Default by written notice to the Borrower, for so long as the Event of Default
is continuing (i) revoke the Facility in whole (whereupon the Facility shall be reduced to zero), (ii) declare that all the Loans
and all interest accrued thereon and all other sums payable under this Agreement be due and payable on demand, whereupon the same
shall, immediately or in accordance with the terms of such notice, become due and payable without any further diligence, presentment,
demand of payment, protest or notice which are expressly waived by the Borrower, but which Loans and all interest accrued thereon
and all other sums payable under this Agreement may be satisfied pursuant to the issuance of Common Stock in accordance with Section
7, and (iii) take any other action which as a result of the Event of Default or any notice served hereunder the Lender is entitled
to take under this Agreement or any applicable laws and regulations.
11.03 (Proof of Default)
It is agreed
that (i) the non-payment of any sum of money in time will be proven conclusively by mere passage of time and (ii) the occurrence
of this (non-payment) and any other Event of Default shall be proven conclusively by a mere written statement of the Lender (save
for manifest error).
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12.
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INDEMNITIES
–
EXPENSES
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12.01
The Borrower shall on demand
indemnify the Lender, without prejudice to any of the other rights of the Lender against any loss or expense which the Lender shall
certify as sustained or incurred as a consequence of: (i) any default in payment of any sum under this Agreement when due, (ii)
the occurrence of any Event of Default including, in any such case, but not limited to, any loss or expense sustained or incurred
in maintaining or funding the Facility or a Loan or Loans in liquidating or re-employing deposits from third parties acquired to
effect or maintain the Facility or a Loan or Loans or any part thereof.
12.02
The Borrower shall pay to
the Lender on demand all expenses (including legal expenses and any expenses for filings required under the Nasdaq Stock Market
listing rules and/or applicable securities laws and regulations) incurred by the Lender in connection with the negotiation, preparation
and execution of this Agreement and of any amendment or extension of or the granting of any waiver or consent under this Agreement.
The Borrower shall also pay any and all stamp duties, registration and similar taxes or charges (including those payable by
the Lender) imposed by governmental authorities in relation to this Agreement, and shall indemnify the Lender against any and all
liabilities with respect to, or resulting from delay or omission on the part of the Borrower to pay such stamp duties, taxes or
charges; provided that if Common Stock is to be issued in the name of a person other than the Lender as part of a Conversion Notice,
the Lender will pay all transfer taxes payable with respect thereto.
13.01 (Assignment by the Borrower)
The Borrower may not assign any rights and/or obligations under this Agreement without the prior written consent of the Lender.
13.02 (Assignment by the Lender)
The Lender may at any time assign, transfer, or offer participations to any other person in whole or in part, or in any manner
dispose of all or any of its rights and/or obligations arising or accruing under this Agreement. The Lender may disclose to a potential
assignee, transferee or participant or to any other person who may propose entering into contractual relations with the Lender
in relation to this Agreement such information about the Borrower as the Lender shall consider appropriate.
13.03 (Set-off
)
The Lender may at any time set off any liability of the Lender to the Borrower against any liability of the Borrower to the Lender,
whether either liability is present or future, liquidated or unliquidated, and whether or not either liability arises under this
Agreement and in the capacity of the Lender as shareholder of the Borrower or otherwise. If the liabilities to be set off are expressed
in different currencies, the Lender may convert either liability at a market rate of exchange reasonably determined by the Lender
for the purpose of set-off. Any exercise by the Lender of its rights under this Clause shall not limit or affect any other rights
or remedies available to it under this Agreement or otherwise.
13.04 (Cumulative Remedies
)
The rights and remedies of the Lender contained in this Agreement are cumulative and not exclusive of each other nor of any other
rights or remedies conferred by law.
13.05
(
Waivers
)
No delay or failure to exercise any right under this Agreement shall operate as a waiver of that right and no single or partial
exercise of any right under this Agreement shall prevent any further exercise of that right (or any other right under this
Agreement).
13.06
(
Severance
) If
any provision (or part of a provision) of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed
modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant
provision (or part of a provision) shall be deemed deleted. Any modification to or deletion of a provision (or part of
a provision) under this Clause shall not affect the legality, validity and enforceability of the rest of this Agreement.
13.07
(
Amendments
) This
Agreement shall not be amended or varied in its respective terms by any oral agreement or representation or in any other manner
other than by an instrument in writing of even date herewith or subsequent hereto executed by or on behalf of the parties hereto.
13.08
(
Notices
) Each
notice or other communication required to be given under, or in connection with, this Agreement shall be:
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(a)
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in writing, delivered personally or sent by courier or fax or shall be served through process server
or via e-mail; and
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GLOBUS MARITIME LIMITED
c/o Globus Shipmanagement Corp.
128 Vouliagmenis Avenue, 3rd Floor
166 74 Glyfada
Athens, Greece
Fax: +30 210 9608359
Email: corporatesecretary@globusmaritime.gr
Attention:
Corporate Secretary
FIRMENT SHIPPING INC.
17 Ifigenias street, 2007 Strovolos
P.O. Box 28541
2080 Nicosia, Cyprus
Fax: +357 22271111
Email: corporate@papaphilippou.eu
Attention: Marios Lazarou
or to any other addresses, fax numbers,
or email addresses that are notified in writing by one party to the other from time to time.
Any notice or other communication
given under this Agreement shall be deemed to have been received: if sent by fax, upon receipt of a successful transmission report (or
–if sent after business hours– the following business day), if sent via email, upon acknowledgment of receipt thereof
and in all other cases when actually delivered or served.
13.09
(
Process Agent in
Greece
) Ms Olga Lambrianidou (128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada, Greece) is hereby appointed by the Borrower
as agent in Greece to accept service (hereinafter: the “
Greek Process Agent
”) upon whom any judicial process
may be served and any notice, request, demand or other communication under this Agreement. In the event that the Greek Process
Agent (or any substitute process agent notified to the Lender in accordance with the foregoing) cannot be found at the address
specified above (or, as the case may be, notified to the Lender), which will be conclusively proved by the affidavit of a
process server to that effect, the authority of the Greek Process Agent as agent to accept service shall be deemed to have ceased
and service of documents may be effected in accordance with the procedure provided by the relevant law. In case, however, that
such Greek Process Agent is found at any other address, the Lender shall have the right to serve the documents either on the Greek
Process Agent at such address or in accordance with the procedure provided by the relevant law.
13.10
(
Third Party Rights
)
A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce
or to enjoy the benefit of any term of this Agreement.
13.11
(
Counterparts
)
This Agreement may be executed in any number of counterparts, each of which when executed shall constitute a duplicate original,
but all the counterparts shall together constitute one agreement.
13.12 (Governing Law and Jurisdiction)
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(a)
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This Agreement and any dispute or claim arising out of or in connection with it or its subject
matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English
law;
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(b)
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The parties hereto irrevocably agree that the courts of England and Wales shall have exclusive
jurisdiction to settle any dispute or claim that arises out of or in connection with this Agreement or its subject matter or formation (including
non-contractual disputes or claims). Each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of
such courts and irrevocably designates, appoints and empowers Mr. Emmanuel K. Stavrianakis (103, Totterbridge Lane, London N20
8DX, England) to receive for it and on its behalf, service of process issued out of the English courts in any such legal action
or proceedings.
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IN WITNESS whereof, the parties hereto
have caused this Agreement to be duly executed the day and year first above written.
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SIGNED
by
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)
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Philippos Philippou
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)
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for and on behalf of
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)
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GLOBUS MARITIME LIMITED
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the Borrower
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)
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Name: Philippos Philippou
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Title: Authorised Signatory
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SIGNED
by
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Marios Lazarou
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for and on behalf of
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FIRMENT SHIPPING INC.
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the Lender
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Name: Marios Lazarou
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Title: President/Secretary/Treasurer
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EXHIBIT A
FORM OF CONVERSION NOTICE
[Date of Conversion Notice]
(To be executed by the Borrower
in order to convert unpaid principal and
accrued but unpaid interest)
Re: [Revolving Credit
Facility Agreement]
Pursuant to that certain
[Revolving Credit Facility Agreement] (the “Agreement”) dated [●], between Globus Maritime Limited (the “Borrower”)
and Firment Shipping Inc. (the “Lender”), an aggregate principal amount of US$15,000,000 has been made available by
the Lender to the Borrower.
The undersigned Borrower hereby elects
to convert the aggregate outstanding principal amount [and accrued interest] indicated below, loaned pursuant to the Agreement,
into shares of common stock, US$0.004 par value per share (the “Common Stock”), of the Borrower according to the conditions
hereof, as of the date written below. If Common Stock is to be issued in the name of a person other than the Lender, the Lender
will pay all transfer taxes payable with respect thereto.
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Conversion information:
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Date to Effect Conversion
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Aggregate Principal Amount [and accrued interest] being Converted
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Number of Shares of Common Stock to be Issued
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Applicable Conversion Price
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GLOBUS MARITIME LIMITED
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By:
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Name:
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Title:
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