DryShips now owns 113.54 million shares or 66.6% of the shares and votes in Ocean Rig. The ownership of 66.67% of the shares and votes in Ocean Rig gives the company effective control over matters requiring shareholder vote such as the election of directors, the purchase or disposition of assets, mergers and application for delisting from the stock exchange.
DryShips will also have the power to approve major financial proposals such as the amount of dividends and the issuance of new equity securities. George Economou, chairman, CEO and interim CFO of DryShips, holds 4.4% of the shares and votes in Ocean Rig.
