Exhibit 4.42


 










Amendment
No. 1 to SECURITIES PURCHASE AGREEMENT


 


This AMENDMENT NO.
1 (this “Amendment”) to the SECURITIES PURCHASE AGREEMENT dated as March 13, 2019 (the “Agreement”)
is made as of this ___ day of March, 2019, by and among Globus Maritime Limited, a Marshall Islands corporation (the “Company”),
and Arnaki Ltd., a British Virgin Islands company and the sole Buyer under the Agreement (“Buyer”).


 


RECITALS


 


A.       This
Amendment is made to correct a typographical error included within Section 4(n)(ix) of the Agreement, wherein the term “Excluded
Securities” was listed as defined within the Notes, but due to a ministerial error was not defined therein.


 


B.       Section
9(e) of the Agreement provided that the Agreement could be amended upon the written consent of the Company and the Required Holders.
On the date hereof, Arnaki Ltd. is the only Holder and therefore the only party other than the Company whose consent is required
in connection with the adoption of this Amendment.


 


C.       References
below to this “Agreement” refer to the Agreement as amended by this Amendment. Other capitalized terms used but not
defined herein shall be as defined within the Agreement or the other Transaction Documents, as the case may be.


 


AGREEMENT


 


NOW, THEREFORE, in
consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and each Buyer hereby agree as follows:


 


1.             Replacement of Section 4(n)(ix). In Section 4(n)(ix) is hereby deleted and replaced in
its entirety as follows:


 


4(n)(ix): The
restrictions contained in this Section 4(n) shall not apply in connection with the issuance of any (i) Common Shares or Class B
Shares or standard options to purchase Common Shares or Class B Shares issued to directors, officers or employees of the Company
for services rendered to the Company in their capacity as such, provided that (A) all such issuances (taking into account the Common
Shares or Class B Shares issuable upon exercise of such options) after the Subscription Date pursuant to this clause (i) do not,
in the aggregate, exceed more than 5% of the Common Shares (on an as converted or exercised basis) issued and outstanding immediately
prior to the Subscription Date and (B) the exercise price of any such options is not lowered, none of such options are amended
to increase the number of shares issuable thereunder and none of the terms or conditions of any such options are otherwise materially
changed in any manner that adversely affects any of the Buyers; (ii) Common Shares issued upon the conversion or exercise of Convertible
Securities (other than standard options to purchase Common Shares that are covered by clause (i) above) issued prior to the Subscription
Date, provided that the conversion price of any such Convertible Securities (other than standard options to purchase Common Shares
that are covered by clause (i) above) is not lowered, none of such Convertible Securities (other than standard options to purchase
Common Shares that are covered by clause (i) above) are amended to increase the number of shares issuable thereunder and none of
the terms or conditions of any such Convertible Securities (other than standard options to purchase Common Shares that are covered
by clause (i) above) are otherwise materially changed in any manner that adversely affects any of the Buyers; and (iii) the Common
Shares issuable upon conversion of the Notes or otherwise pursuant to the terms of the Notes; provided, that the terms of the Notes
are not amended, modified or changed on or after the Subscription Date (other than antidilution adjustments pursuant to the terms
thereof in effect as of the Subscription Date). The Company shall not circumvent the provisions of this Section 4(n) by providing
terms or conditions to one Buyer that are not provided to all.


 






     


     


    

 


2.             No Other Amendments. Except as amended by Section 1 of this Amendment, the Agreement otherwise
remains in full force and effect.


 


3.             MISCELLANEOUS.


 


(a)              
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Amendment
shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law
provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of
any jurisdictions other than the State of New York.


 


(b)              
Counterparts. This Amendment may be executed in two or more identical counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document
format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.


 


[signature page follows]


 






    2


     


    

 


IN WITNESS WHEREOF,
Buyer and the Company duly executed this Amendment as of the date first written above.





 








 


	 	
        COMPANY:

         

	 	
        GLOBUS MARITIME LIMITED

         

         

         

        By:     /S/
        Athanasios Feidakis                           
 Name: Athanasios Feidakis

        Title:   President, Chief Executive
        officer and Chief Financial Officer



 


 


	 	
        BUYER:

         

	 	
        ARNAKI LTD.

         

         

         

        By:     /S/
        Moses Benaim                                       

                   Name: Moses Benaim

                   Title:   Director