<SEC-DOCUMENT>0001144204-18-025104.txt : 20180503
<SEC-HEADER>0001144204-18-025104.hdr.sgml : 20180503
<ACCEPTANCE-DATETIME>20180503163203
ACCESSION NUMBER:		0001144204-18-025104
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180503
FILED AS OF DATE:		20180503
DATE AS OF CHANGE:		20180503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ardmore Shipping Corp
		CENTRAL INDEX KEY:			0001577437
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36028
		FILM NUMBER:		18804316

	BUSINESS ADDRESS:	
		STREET 1:		69 PITTS BAY ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM08
		BUSINESS PHONE:		441-405-7800

	MAIL ADDRESS:	
		STREET 1:		69 PITTS BAY ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM08
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tv491826_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
  <head>
    <title>tv491826_6k - none - 0.93744s</title>
  </head>
  <body style="width:595.31pt;">
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:19pt;margin-bottom:21.71pt;margin-left:27pt;width:541pt;">
        <div style="width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:3pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:10.98pt; width:541pt; line-height:12pt;">&nbsp;&nbsp;&nbsp; <br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp; <br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp; <br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;</div>
        <div style="margin-top:12pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">UNITED STATES <br >SECURITIES AND EXCHANGE COMMISSION <br >WASHINGTON, D.C. 20549</div>
        <div style="margin-top:13.48pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:13.98pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">FORM 6-K <br >Report of Foreign Private Issuer </div>
        <div style="margin-top:12pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">Pursuant to Rule 13a-16 or 15d-16 <br >of the Securities Exchange Act of 1934 </div>
        <div style="margin-top:14.49pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:7.98pt; text-align:center; width:541pt; line-height:12pt;font-weight:bold;">Date of report: May 3, 2018</div>
        <div style="margin-top:3pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">Commission File Number: 001-36028 </div>
        <div style="margin-top:8.49pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:13.98pt; text-align:center; width:541pt; line-height:19pt;font-weight:bold;font-size:18pt;">ARDMORE SHIPPING CORPORATION</div>
        <div style="margin-top:1pt; text-align:center; width:541pt; line-height:8pt;font-weight:bold;font-size:8pt;">(Exact name of Registrant as specified in its charter)</div>
        <div style="margin-top:13.48pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:13.99pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">Belvedere Building, 69 Pitts Bay Road, Ground Floor <br >Pembroke, HM08, Bermuda <br ><font style="font-size:8pt;">(Address of principal executive office)</font></div>
        <div style="margin-top:14.48pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:7.98pt; width:541pt; line-height:12pt;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. </div>
        <div style="margin-top:6pt; text-align:center; width:541pt; line-height:12pt;">Form 20-F &#9746; Form 40-F &#9744;</div>
        <div style="margin-top:6pt; width:541pt; line-height:12pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). </div>
        <div style="margin-top:6pt; text-align:center; width:541pt; line-height:12pt;">Yes &#9744; No &#9746;</div>
        <div style="margin-top:6pt; width:541pt; line-height:12pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7). </div>
        <div style="margin-top:6pt; text-align:center; width:541pt; line-height:12pt;">Yes &#9744; No &#9746;</div>
        <div style="margin-top:6pt; width:541pt; line-height:12pt;">&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp; <br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;<br >&nbsp;&nbsp;&nbsp;</div>
        <div style="margin-top:8.48pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:3pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:2pt; width:541pt; line-height:12pt;"></div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:46pt;min-height:660pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:11pt;">Item 1&#8201;&#8212;&#8201;Information Contained in this Form 6-K Report </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:11.5pt;font-weight:normal;">Attached as Exhibit I is a copy of the 2018 Proxy Statement of Ardmore Shipping Corporation (the &#8216;&#8216;Company&#8217;&#8217;), dated May 3, 2018. </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;">THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO THE FOLLOWING REGISTRATION STATEMENTS OF THE COMPANY: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"><font style="font-weight:normal;">&#8226;</font><br >
        </div>
        <div style=" float:left; margin-top:8.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">REGISTRATION STATEMENT ON FORM F-3 (NO. 333-203205) FILED WITH THE SEC ON APRIL 2, 2015;</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"><font style="font-weight:normal;">&#8226;</font><br >
        </div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">REGISTRATION STATEMENT ON FORM F-3/A (NO. 333-206501) FILED WITH THE SEC ON SEPTEMBER 24, 2015;</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"><font style="font-weight:normal;">&#8226;</font><br >
        </div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">REGISTRATION STATEMENT ON FORM F-3 (NO. 333-213343) FILED WITH THE SEC ON AUGUST 26, 2016; AND</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"><font style="font-weight:normal;">&#8226;</font><br >
        </div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">REGISTRATION STATEMENT ON FORM S-8 (NO. 333-213344) FILED WITH THE SEC ON AUGUST 26, 2016.</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <hr >
    </div>
    <div style=" width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:46pt;min-height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">SIGNATURES </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:11.5pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </div>
        <div style="margin-left:220pt; margin-top:6pt; width:236pt; line-height:12pt;">ARDMORE SHIPPING CORPORATION </div>
        <table style="width:456pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:222pt;">
              <div style="font-weight:normal;">Date: May 3, 2018 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:222pt;white-space:normal;">
              <div style=" float:left; line-height:10pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-weight:normal;">By:<br ></div>
              <div style=" float:left; line-height:10pt; text-align:left; width:201.5pt;font-weight:normal;">/s/ Anthony Gurnee</div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
              <div style="margin-left:20.03pt; margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 201.97pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-left:20.03pt; margin-top:2pt;">Anthony Gurnee <br >Chief Executive Officer <br >(Principal Executive Officer)</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <hr >
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.I
<SEQUENCE>2
<FILENAME>tv491826_exi.htm
<DESCRIPTION>EXHIBIT I
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
  <head>
    <title>tv491826_6k_DIV_01-exi - none - 1.6786035s</title>
  </head>
  <body style="width:595.31pt;">
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;min-height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:right; width:456pt; line-height:10pt;font-weight:bold;">&#8202;Exhibit I&#8203;</div>
        <table style="width:456pt;height:64pt;margin-top:6pt;border-collapse: collapse;">
          <tr style="min-height:11pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:54pt;" rowspan="2">
              <div style="position:relative;">
                <img src="lg_ardmore.jpg" alt="[MISSING IMAGE: lg_ardmore.jpg]" height="75" width="75" >
              </div>
            </td>
            <td style="padding:0pt; width:6pt;" rowspan="2">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:390pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;min-height:39pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:390pt;"><font style="font-weight:normal;">&#8199;</font><br >ARDMORE SHIPPING CORPORATION<br >Belvedere Building, 69 Pitts Bay Road, Ground Floor, Hamilton, HM08, Bermuda</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;min-height:19pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:54pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:390pt;">May 3, 2018</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:16.98pt; width:456pt; line-height:12pt;">Dear Shareholder, </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">On behalf of the Board of Directors, it is my pleasure to extend to you an invitation to attend the 2018 Annual Meeting of Shareholders of Ardmore Shipping Corporation. The annual meeting will be held at: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:40pt;white-space:nowrap;"><font style="font-weight:bold;">Place:</font><br >
        </div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">Belvedere Building<br >69 Pitts Bay Road, Ground Floor<br >Pembroke, HM08,<br >Bermuda </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:40pt;white-space:nowrap;font-weight:bold;">Date:<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;font-weight:bold;"><font style="font-weight:normal;">Tuesday, June 12, 2018 </font></div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:40pt;white-space:nowrap;font-weight:bold;">Time:<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;font-weight:bold;"><font style="font-weight:normal;">10:00 a.m. Atlantic Time </font></div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Notice of Annual Meeting and Proxy Statement describes the business to be transacted at the annual meeting and provides other information concerning Ardmore Shipping Corporation. The purposes of the annual meeting will be to: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">1.<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Elect two Class II directors for a term of three years; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">2.<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Transact such other business as may properly come before the annual meeting. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We are furnishing proxy materials to our registered shareholders by mail. If you hold your shares in street name, please vote your shares by following the instructions set forth in the notice provided by your broker, bank, trust, or other holder of record, which in most cases may permit you to submit your voting instructions by mail, by telephone or via the Internet. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-weight:bold;">We know that many of our shareholders will be unable to attend the annual meeting. Proxies are solicited so that each shareholder has an opportunity to vote on all matters that are scheduled to come before the annual meeting. Whether or not you plan to attend the annual meeting, we hope that you will have your stock represented by completing and returning a proxy card, or voting following the instructions provided in the instruction card, as soon as possible. You may, of course, attend the annual meeting and vote in person even if you have previously submitted your proxy card or voted as provided in your voting instructions.<font style="font-weight:normal;"> </font></div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;">Sincerely, </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;">/s/ ANTHONY GURNEE</div>
        <div style="margin-top:4.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 180pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:4pt; width:456pt; line-height:11.5pt;font-weight:bold;">Anthony Gurnee<br >Chief Executive Officer<font style="font-weight:normal;"> </font></div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">2018 ANNUAL MEETING OF SHAREHOLDERS<br >NOTICE OF ANNUAL MEETING AND PROXY STATEMENT </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">TABLE OF CONTENTS </div>
        <table style="width:456pt;height:590pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tNA1">NOTICE OF ANNUAL MEETING OF SHAREHOLDERS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tNA1">1 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:390pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;"><a href="#tQA2">QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND THE ANNUAL MEETING </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA2">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA3">Why am I receiving these materials? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA3">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA4">What information is contained in this proxy statement? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA4">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA5">How may I obtain Ardmore&#8217;s annual report to shareholders? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA5">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:390pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;"><a href="#tQA6">How may I obtain Ardmore&#8217;s Annual Report on Form 20-F filed with the Securities and Exchange Commission? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA6">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA7">What items of business will be voted on at the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA7">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA8">How does the Board recommend that I vote? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA8">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:390pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;"><a href="#tQA9">The Board recommends that you vote your shares &#8220;FOR&#8221; each of the nominees to the Board. </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA9">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA10">What shares can I vote? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA10">2 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:390pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;"><a href="#tQA11">What is the difference between holding shares as a shareholder of record and as a beneficial owner? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA11">3 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA12">How can I attend the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA12">3 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA13">How can I vote my shares in person at the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA13">3 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA14">How can I vote my shares without attending the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA14">3 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA15">Can I change my vote? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA15">4 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA16">Is my vote confidential? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA16">4 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:390pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;"><a href="#tQA17">How many shares must be present or represented to conduct business at the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA17">4 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA18">How are votes counted? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA18">4 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA19">What is the voting requirement to approve each of the proposals? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA19">4 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA20">Is cumulative voting permitted for the election of directors? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA20">5 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA21">What happens if additional matters are presented at the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA21">5 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA22">What should I do if I receive more than one set of voting materials? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA22">5 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA23">How may I obtain a separate set of voting materials? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA23">5 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA24">Who will bear the cost of soliciting votes for the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA24">5 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:10pt;"><a href="#tQA25">Where can I find the voting results of the annual meeting? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA25">5 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:390pt;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;"><a href="#tQA26">What is the deadline to propose actions for consideration at next year&#8217;s annual meeting of <br >shareholders or to nominate individuals to serve as directors? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA26">6 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:390pt;white-space:normal;text-align:left;">
              <div style="margin-left:20pt; text-indent:-10pt;"><a href="#tQA27">How may I communicate with Ardmore&#8217;s Board or the non-management directors on Ardmore&#8217;s Board? </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tQA27">7 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tCG28">CORPORATE GOVERNANCE PRINCIPLES AND BOARD MATTERS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tCG28">8 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tCD29">COMPENSATION OF DIRECTORS AND SENIOR MANAGEMENT </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tCD29">11 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tPV30">PROPOSALS TO BE VOTED ON </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tPV30">12 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tPE31">PROPOSAL NO. 1 ELECTION OF DIRECTORS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tPE31">12 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tID32">INFORMATION ABOUT THE DIRECTORS CONTINUING IN OFFICE </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:2.25pt; text-align:right; white-space:nowrap;"><a href="#tID32">13 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">i</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC2">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;height:86pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:390pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;"><a href="#tCS33">COMMON STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tCS33">15 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tCR34">CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tCR34">17 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tEO35">EXECUTIVE OFFICERS AND SENIOR MANAGEMENT </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tEO35">18 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tPA36">PRINCIPAL AUDITOR FEES AND SERVICES </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tPA36">20 </a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tRA37">REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tRA37">21</a></td>
            <td style="padding:0pt;padding-left:22pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">ii</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tNA1">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">ARDMORE SHIPPING CORPORATION<br >NOTICE OF ANNUAL MEETING OF SHAREHOLDERS </div>
        <table style="width:416pt;margin-left:20pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:98pt;">
              <div style="font-weight:bold;">Time and Date</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:306pt;">Tuesday, June 12, 2018<br >10:00 a.m. Atlantic Time </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:98pt;">
              <div style="font-weight:bold;">Place</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:306pt;">Belvedere Building<br >69 Pitts Bay Road, Ground Floor<br >Pembroke HM08<br >Bermuda </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:98pt;">
              <div style="font-weight:bold;">Items of Business</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; min-width:306pt;white-space:normal;">
              <div style=" float:left; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
              <div style=" float:left; line-height:12pt; text-align:left; width:285.5pt;">To elect two Class II directors to our Board of Directors for a term of three years. </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:98pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; min-width:306pt;white-space:normal;">
              <div style=" float:left; line-height:12pt; margin-top:0pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
              <div style=" float:left; line-height:12pt; text-align:left; width:285.5pt;">To transact such other business as may properly come before the annual meeting. </div>
              <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:98pt;">
              <div style="font-weight:bold;">Adjournments and Postponements</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:306pt;">Any action on the items of business described above may be considered at the annual meeting at the time and on the date specified above or at any time and date to which the annual meeting may be properly adjourned or postponed. </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:98pt;">
              <div style="font-weight:bold;">Record Date</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:306pt;white-space:normal;">The record date for the annual meeting is April 23, 2018. Only shareholders of record at the close of business on that date will be entitled to notice of, and to vote at, the annual meeting or any adjournment or postponement of the meeting. </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:98pt;">Voting</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:306pt;white-space:normal;">Your vote is very important. Whether or not you plan to attend the annual meeting, we encourage you to read the proxy statement and submit your proxy or voting instructions as soon as possible. For specific instructions on how to vote your shares, please refer to the section entitled Questions and Answers beginning on page <a href="#tQA2">2</a> of the proxy statement and the instructions on the proxy or voting instruction card.</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:16.98pt; width:436pt; line-height:12pt;">By Order of the Board of Directors<br >&#8199;</div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">/s/ PAUL TIVNAN</div>
        <div style="margin-left:20pt; margin-top:4.5pt; width:436pt;">
          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-left:20pt; margin-top:4pt; width:436pt; line-height:12pt;font-weight:bold;">Paul Tivnan<br >Secretary<font style="font-weight:normal;"> </font></div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">May 3, 2018 </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-style:italic;">This notice of annual meeting and proxy statement and form of proxy are being distributed on or about<br >May 3, 2018.</div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">1</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tQA2">&#8203;</a><a name="tQA3">&#8203;</a><a name="tQA4">&#8203;</a><a name="tQA5">&#8203;</a><a name="tQA6">&#8203;</a><a name="tQA7">&#8203;</a><a name="tQA8">&#8203;</a><a name="tQA9">&#8203;</a><a name="tQA10">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND THE ANNUAL MEETING </div>
        <div style=" float:left; line-height:11pt; margin-top:12pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:12pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">Why am I receiving these materials? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">The Board of Directors (or <font style="font-style:italic;">Board</font>) of Ardmore Shipping Corporation, a corporation organized in the Republic of The Marshall Islands (or <font style="font-style:italic;">Ardmore</font>), is providing these proxy materials to you in connection with Ardmore&#8217;s Annual Meeting of Shareholders, which will take place on Tuesday, June 12, 2018. As a shareholder, you are invited to attend the annual meeting and are entitled and requested to vote on the items of business described in this proxy statement. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What information is contained in this proxy statement? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:6.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">The information included in this proxy statement relates to the proposals to be voted on at the annual meeting, the voting process, the compensation of our directors and executive officers, and certain other information about us. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How may I obtain Ardmore&#8217;s annual report to shareholders? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:6.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">A copy of our 2017 annual report to shareholders is available in the &#8220;Investors&#8221; section of our website at <font style="font-style:italic;">www.ardmoreshipping.com.</font> </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How may I obtain Ardmore&#8217;s Annual Report on Form 20-F filed with the Securities and Exchange Commission (or SEC)? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">You may obtain a copy of our 2017 Annual Report on Form 20-F from our website at <font style="font-style:italic;">www.ardmoreshipping.com</font> in the &#8220;Investors&#8221; section of our website, and from the SEC&#8217;s EDGAR database on the SEC&#8217;s website at <font style="font-style:italic;">www.sec.gov. </font>Shareholders may also request a free copy of our 2017 Annual Report on Form 20-F from: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">Ardmore Shipping Corporation<br >Belvedere Building,<br >69 Pitts Bay Road, Ground Floor,<br >Pembroke, HM08, Bermuda<br >Attention: Investor Relations<br >Telephone: +1 441 292 9332<br >Email: info@ardmoreshipping.com<font style="font-weight:normal;"> </font></div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">We will also furnish any exhibit to the Form 20-F, if specifically requested. </div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What items of business will be voted on at the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">The items of business scheduled to be voted on at the annual meeting are: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the election of two Class II directors to our Board for a term of three years; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any other business that properly comes before the annual meeting. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How does the Board recommend that I vote? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">The Board recommends that you vote your shares &#8220;FOR&#8221; each of the nominees to the Board. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What shares can I vote? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Each share of our common stock issued and outstanding as of the close of business on April 23, 2018, the <font style="font-style:italic;">record date </font>for the annual meeting, is entitled to be voted on all items being voted upon at the annual meeting. The record date for the annual meeting is the date used to determine both the number of shares of our common stock that are entitled to be voted at the annual meeting and the identity of the <font style="font-style:italic;">shareholders of record </font>and <font style="font-style:italic;">beneficial owners </font>of those shares of common stock who are entitled to vote those shares at the annual meeting. On the record date for the annual meeting, we had approximately 32,445,415 shares of common stock issued and outstanding. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">2</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tQA11">&#8203;</a><a name="tQA12">&#8203;</a><a name="tQA13">&#8203;</a><a name="tQA14">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-left:20pt; width:436pt; line-height:12pt;">You may vote all shares owned by you as of the record date for the annual meeting, including (1) shares held directly in your name as the shareholder of record, and (2) shares held for you as the beneficial owner through a broker, trustee or other nominee such as a bank. </div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What is the difference between holding shares as a shareholder of record and as a beneficial owner? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Most of our shareholders hold their shares through a broker or other nominee rather than directly in their own name. As summarized below, there are some distinctions between shares held of record and those owned beneficially. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:11pt;font-style:italic;font-weight:bold;">Shareholder of Record </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">If your shares are registered directly in your name with our transfer agent, Computershare, you are considered, with respect to those shares, the <font style="font-style:italic;">shareholder of record</font>, and these proxy materials are being sent directly to you by us. As the shareholder of record, you have the right to grant your voting proxy directly to us or to vote in person at the meeting. We have enclosed or sent a proxy card for you to use. </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:11pt;font-style:italic;font-weight:bold;">Beneficial Owner </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">If your shares are held in a brokerage account or by another nominee, you are considered the <font style="font-style:italic;">beneficial owner </font>of shares held in street name and these proxy materials are being forwarded to you together with a voting instruction card. As the beneficial owner, you have the right to direct your broker, trustee or nominee how to vote and are also invited to attend the annual meeting. </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">Since a beneficial owner is not the shareholder of record, you may not vote these shares in person at the meeting unless you obtain a &#8220;legal proxy&#8221; from the broker, trustee or nominee that holds your shares, giving you the right to vote the shares at the meeting. Your broker, trustee or nominee should have provided voting instructions for you to use in directing the broker, trustee or nominee how to vote your shares. </div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How can I attend the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.38pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.38pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">You are entitled to attend the annual meeting only if you were an Ardmore shareholder as of the close of business on April 23, 2018 or you hold a valid proxy for the annual meeting. You should be prepared to present photo identification for admittance. In addition, if you are a shareholder of record, your name will be verified against the list of shareholders of record on the record date prior to your being admitted to the annual meeting. If you are not a shareholder of record but hold shares through a broker or nominee (<font style="font-style:italic;">i.e.</font>, in street name), you should provide proof of beneficial ownership on the record date, such as your most recent account statement prior to the record date, a copy of the voting instruction card provided by your broker, trustee or nominee, or other similar evidence of ownership. If you do not provide photo identification or comply with the procedures outlined above upon request, you will not be admitted to the annual meeting. The meeting is scheduled to begin promptly at 10:00 a.m. Atlantic Time. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How can I vote my shares in person at the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Shares held in your name as the shareholder of record may be voted in person at the annual meeting. Shares held beneficially in street name may be voted in person only if you obtain a legal proxy from the broker, trustee or nominee that holds your shares giving you the right to vote the shares. <font style="font-style:italic;">Even if you plan to attend the annual meeting, we recommend that you also submit your proxy or voting instructions as described below so that your vote will be counted if you later decide not to attend the meeting.</font></div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How can I vote my shares without attending the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Whether you hold shares directly as the shareholder of record or beneficially in street name, you may direct how your shares are voted without attending the meeting. If you are a shareholder of record, you may vote by submitting a proxy. If you hold shares beneficially in street name, you may vote by submitting voting instructions to your broker, trustee or nominee. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">3</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tQA15">&#8203;</a><a name="tQA16">&#8203;</a><a name="tQA17">&#8203;</a><a name="tQA18">&#8203;</a><a name="tQA19">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; line-height:11pt; margin-top:12pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:12pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">Can I change my vote? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">You may change your vote at any time prior to the vote at the annual meeting. If you are the shareholder of record, you may change your vote by granting a new proxy bearing a later date (which automatically revokes the earlier proxy), by providing a written notice of revocation to our Secretary by mail received prior to your shares being voted, or by attending the annual meeting and voting in person. Attendance at the meeting will not cause your previously granted proxy to be revoked unless you specifically so request. For shares you hold beneficially in street name, you may change your vote by submitting new voting instructions to your broker, trustee or nominee, or, if you have obtained a legal proxy from your broker or nominee giving you the right to vote your shares, by attending the meeting and voting in person. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:15.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:15.99pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">Is my vote confidential? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Proxy instructions, ballots and voting tabulations that identify individual shareholders are handled in a manner that protects your voting privacy. Your vote will not be disclosed either within Ardmore or to third parties, except (1) as necessary to meet applicable legal requirements, (2) to allow for the tabulation of votes and certification of the vote and (3) to facilitate a successful proxy solicitation. Occasionally, shareholders provide written comments on their proxy card, which are then forwarded to our management. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:15.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:15.98pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How many shares must be present or represented to conduct business at the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">The general quorum requirement for holding the annual meeting and transacting business is that holders of at least one-third of the total voting power of all shares of Ardmore common stock entitled to vote must be present in person or represented by proxy. Abstentions are counted for the purpose of determining the presence of a quorum, but broker non-votes (as explained below) will not be counted for purposes of determining the presence of a quorum. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:15.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:15.99pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How are votes counted? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">In the election of directors, you may vote &#8220;FOR&#8221; all of the nominees or your vote may be &#8220;WITHHELD&#8221; with respect to one or more of the nominees. For any other item of business, you may vote &#8220;FOR,&#8221; &#8220;AGAINST&#8221; or &#8220;ABSTAIN.&#8221; If you &#8220;ABSTAIN&#8221; the abstention has the same effect as a vote &#8220;AGAINST.&#8221; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">If you provide specific instructions for a given item, your shares will be voted as you instruct on such item. If you sign your proxy card or voting instruction card without giving specific instructions, your shares will be voted in accordance with the recommendations of the Board (i.e., &#8220;FOR&#8221; all of Ardmore&#8217;s nominees to the Board, and in the discretion of the proxyholders on any other matters that properly come before the meeting.) </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">If you hold shares beneficially in street name and do not provide your broker with voting instructions, your shares may constitute &#8220;broker non-votes.&#8221; Generally, broker non-votes occur on a matter when a broker is not permitted to vote on that matter without instructions from the beneficial owner and instructions are not given. In tabulating the voting result for any particular proposal, shares that constitute broker non-votes are not considered entitled to vote on that proposal. Thus, broker non-votes will not affect the outcome of any matter being voted on at the meeting, assuming that a quorum is obtained. </div>
        <div style=" float:left; line-height:11pt; margin-top:15.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:15.98pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What is the voting requirement to approve each of the proposals? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">In the election of directors, the two persons receiving the highest number of&#8201; &#8220;FOR&#8221; votes at the annual meeting will be elected. Any other proposal requires the affirmative &#8220;FOR&#8221; vote of a majority of the total voting power of those shares of common stock present in person or represented by proxy and entitled to vote on that proposal at the annual meeting. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">4</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tQA20">&#8203;</a><a name="tQA21">&#8203;</a><a name="tQA22">&#8203;</a><a name="tQA23">&#8203;</a><a name="tQA24">&#8203;</a><a name="tQA25">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; line-height:11pt; margin-top:12pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:12pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">Is cumulative voting permitted for the election of directors? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.78pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.78pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">No. Ardmore does not allow you to cumulate your vote in the election of directors. For all matters proposed for shareholder action at the annual meeting, each share of our common stock outstanding as of the close of business on the record date is entitled to one vote. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What happens if additional matters are presented at the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Other than the one item of business described in this proxy statement, we are not aware of any business to be acted upon at the annual meeting. If you grant a proxy, the persons named as proxyholders, Anthony Gurnee, Paul Tivnan and Matthew Foley, will have the discretion to vote your shares on any additional matters properly presented for a vote at the meeting. If for any unforeseen reason any of our nominees are not available as a candidate for director, the persons named as proxyholders will vote your proxy for such candidate or candidates as may be nominated by the Board, unless the Board chooses to reduce the number of directors serving on the Board. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What should I do if I receive more than one set of voting materials? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.78pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.78pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">You may receive more than one set of voting materials, including multiple copies of this proxy statement and multiple proxy or voting instruction cards. For example, if you hold your shares in more than one brokerage account, you may receive a separate voting instruction card for each brokerage account in which you hold shares. Please follow the voting instructions for each instruction card that you receive. If you are a shareholder of record and your shares are registered in more than one name, you will receive more than one proxy card. Please complete, sign, date and return each proxy card that you receive. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How may I obtain a separate set of voting materials? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">If you share an address with another shareholder, you may receive only one set of proxy materials unless you have provided contrary instructions. If you wish to receive a separate set of proxy materials now or in the future, you may contact us to request a separate copy of these materials at: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">Ardmore Shipping Corporation<br >Belvedere Building,<br >69 Pitts Bay Road, Ground Floor,<br >Pembroke, HM08, Bermuda<br >Attention: Investor Relations<br >Telephone: +1 441 292 9332<br >Email: info@ardmoreshipping.com<font style="font-weight:normal;"> </font></div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">Similarly, if you share an address with another shareholder and have received multiple copies of our proxy materials, you may contact us as indicated above to request delivery of a single copy of these materials. </div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">Who will bear the cost of soliciting votes for the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">We are making this solicitation and will pay the entire cost of preparing, assembling, printing, mailing and distributing proxy materials and soliciting votes. In addition to the mailing of these proxy materials, the solicitation of proxies or votes may be made in person, by telephone or by electronic communication by our directors, officers and employees, who will not receive any additional compensation for such solicitation activities. Upon request, we will reimburse brokerage houses and other custodians, nominees and fiduciaries for forwarding proxy and solicitation materials to shareholders. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:11pt; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">Where can I find the voting results of the annual meeting? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">We intend to announce preliminary voting results at the annual meeting and publish final results in a report on Form 6-K following the annual meeting. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">5</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tQA26">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; line-height:11pt; margin-top:11pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:11pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">What is the deadline to propose actions for consideration at next year&#8217;s annual meeting of shareholders or to nominate individuals to serve as directors? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">You may submit proposals, including director nominations, for consideration at future shareholder meetings as indicated below. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:11pt;font-style:italic;font-weight:bold;">Shareholder Proposals </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">For a shareholder proposal to be considered for inclusion in our proxy statement for the annual meeting next year, the written proposal must be received by our Secretary at the address set forth below no later than February 12, 2019. Such proposals also will need to comply with our bylaws provisions regarding business to be brought before a shareholder meeting. Proposals should be delivered or sent by mail, addressed to: </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">Ardmore Shipping Corporation<br >Belvedere Building,<br >69 Pitts Bay Road, Ground Floor<br >Pembroke, HM08, Bermuda<br >Attention: Secretary<font style="font-weight:normal;"> </font></div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">For a shareholder proposal that is not intended to be included in our proxy statement as described above, the shareholder must deliver a proxy statement and form of proxy to holders of a sufficient number of shares of our common stock to approve that proposal, provide the information required by our bylaws and give timely notice to our Secretary in accordance with the bylaws, which, in general, require that the notice be received by the Secretary not less than 120 days or more than 150 days prior to the anniversary date of the immediately preceding annual meeting of shareholders. </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:11pt;font-style:italic;font-weight:bold;">Nomination of Director Candidates </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">You may propose director candidates for consideration by the Board&#8217;s Nominating and Corporate Governance Committee. Any such recommendation should include the nominee&#8217;s name and qualifications for Board membership, comply with the further requirements set forth in our bylaws provisions regarding nomination of director candidates and be sent to our Secretary at the address set forth above. Please read &#8220;Corporate Governance Principles and Board Matters&#8201;&#8212;&#8201;Consideration of Director Nominees&#8221; below. In addition, our bylaws permit shareholders to nominate directors for election at an annual shareholder meeting. To nominate a director, the shareholder must deliver a proxy statement and form of proxy to holders of a sufficient number of shares of our common stock to elect such nominee and provide the information required by our bylaws, as well as a statement by the nominee acknowledging that he or she consents to being nominated and will serve as a director if elected. In addition, the shareholder must give timely notice to our Secretary in accordance with the bylaws, which, in general, require that the notice be received by the Secretary within the time period described above under &#8220;Shareholder Proposals.&#8221; </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:11pt;font-style:italic;font-weight:bold;">Copy of Bylaws Provisions </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">You may contact our Secretary at the address set forth above for a copy of the relevant bylaws provisions containing the requirements for making shareholder proposals and nominating director candidates. Our bylaws are attached as Exhibit 3.2 to our Form F-1/A Registration Statement filed with the SEC on July 22, 2013, and available on the SEC&#8217;s EDGAR database on the SEC&#8217;s website at <font style="font-style:italic;">www.sec.gov</font>. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">6</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tQA27">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; line-height:11pt; margin-top:12pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;font-style:italic;font-weight:bold;">Q:<br ></div>
        <div style=" float:left; margin-top:12pt; margin-bottom:0pt; line-height:11pt; text-align:left; width:435.5pt;font-style:italic;font-weight:bold;">How may I communicate with Ardmore&#8217;s Board or the non-management directors on Ardmore&#8217;s Board? </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:7.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">A:<br ></div>
        <div style=" float:left; margin-top:7.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">You may submit any communication intended for Ardmore&#8217;s Board by directing the communication by mail or fax addressed to: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">Ardmore Shipping Corporation<br >Belvedere Building,<br >69 Pitts Bay Road, Ground Floor,<br >Pembroke, HM08, Bermuda<br >Attention: Chairman<br >Fax: + 1 441 292 2024<font style="font-weight:normal;"> </font></div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">Communications that are intended specifically for non-management directors should be addressed to the Nominating and Corporate Governance Committee and sent to the above address. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">7</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tCG28">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">CORPORATE GOVERNANCE PRINCIPLES AND BOARD MATTERS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Ardmore is committed to sound corporate governance principles. These principles contribute to our business success and are essential to maintaining our integrity in the marketplace. Our Code of Ethics is available under the &#8220;Investors&#8201;&#8212;&#8201;Corporate Governance&#8221; section of our website at <font style="font-style:italic;">www.ardmoreshipping.com</font>. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Board Independence </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Board has determined that each of our directors are &#8220;independent&#8221; under the rules of the New&#160;York Stock Exchange (or the <font style="font-style:italic;">NYSE</font>) and the rules and regulations of the SEC, except for (i) Anthony Gurnee, our Chief Executive Officer and President and (ii) Reginald Jones, who is the co-founder and Managing Partner of Greenbriar Equity Group LLC and a former executive of GA Holdings LLC, which was our largest shareholder until its sale of our shares it held to the public and to us and its subsequent dissolution in 2017. Anthony Gurnee is one of the current directors standing for re-election at the annual meeting; the other, Alan Robert McIlwraith is an independent director. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Board Structure and Committee Composition </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We have chosen to separate the positions of Chairman of the Board and Chief Executive Officer and to have those positions occupied by different individuals, believing that the primary purpose of the Chairman of the Board and the Board is to protect shareholders&#8217; interests by providing oversight of management and that such separation consequently promotes greater management accountability to our shareholders. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">As of the date of this proxy statement, the Board has seven directors and the following standing committees: (1) Audit Committee, (2) Nominating and Corporate Governance Committee, and (3)&#160;Compensation Committee. The function of each of the committees is described later in this section. Each of the committees operates under a written charter adopted by the Board. All of the committee charters are available under the &#8220;Investors&#8201;&#8212;&#8201;Corporate Governance&#8221; section of our website at <font style="font-style:italic;">www.ardmoreshipping.com</font>. During 2017, the Board held six meetings. All of our directors attended all of these Board meetings, other than one director who was absent from one Board meeting. Each member of the Board committees attended all of their respective committee meetings in 2017, other than one member of the Audit Committee who was absent from one meeting. The membership of each of the committees for 2017 and as of the date of this proxy statement, and the number of meetings of each committee held in 2017, are as follows:</div>
        <table style="width:416pt;height:176.5pt;margin-left:20pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Name of Director </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:18.35pt;">
              <div style="white-space:nowrap; text-align:center;">Audit </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:47.33pt;">
              <div style="white-space:nowrap; text-align:center;">Compensation </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:47.91pt;">
              <div style="text-align:center;">Nominating<br >and Corporate<br >Governance </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:italic;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">Independent Directors:</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:18.35pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.91pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Brian Dunne </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:18.35pt;">
              <div style="text-align:center;">X* </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.91pt;">
              <div style="text-align:center;">X </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Albert Enste </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:18.35pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.33pt;">
              <div style="text-align:center;">X </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.91pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Alan Robert McIlwraith </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:18.35pt;">
              <div style="text-align:center;">X </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.91pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Peter Swift </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:18.35pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.33pt;">
              <div style="text-align:center;">X </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.91pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Curtis McWilliams </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:18.35pt;">
              <div style="text-align:center;">X </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.91pt;">
              <div style="text-align:center;">X<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font> </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:italic;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">Non-independent Directors:</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:18.35pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.91pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Anthony Gurnee </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:18.35pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.33pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:47.91pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Reginald Jones </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:18.35pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.33pt;">
              <div style="text-align:center;">X* </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.91pt;">
              <div style="text-align:center;">X* </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:266.41pt;text-align:left;">
              <div style="white-space:nowrap;">Number of Meetings in 2017</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:18.35pt;">
              <div style="text-align:center;">10</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.33pt;">
              <div style="text-align:center;">1</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:47.91pt;">
              <div style="text-align:center;">1</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:13.69pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:10.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">X<br ></div>
        <div style=" float:left; margin-top:10.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">= Committee member </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">*<br ></div>
        <div style=" float:left; margin-top:8.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">= Chair </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.38pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:8.38pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">= Appointed to Committee in December 2017 </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">8</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Audit Committee </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Our Audit Committee is composed of three voting members. The Board has determined that each voting member of the Audit Committee is &#8220;independent&#8221; under the applicable rules of the NYSE and the rules and regulations of the SEC, as currently in effect. All members of the committee are financially literate and the Board has determined that Brian Dunne qualifies as an audit committee financial expert. The Audit Committee, among other things, reviews our external financial reporting, engages our external auditors and oversees our financial reporting, procedures and the adequacy of our internal accounting controls. </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">The report of the Audit Committee is included on page <a href="#tRA37">21</a> of this proxy statement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Nominating and Corporate Governance Committee </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Our Nominating and Corporate Governance Committee is composed of two directors who are independent under the rules of NYSE, as currently in effect, and one non-independent director. The Nominating and Corporate Governance Committee recommends director and committee member candidates to the Board. The committee also advises the Board regarding corporate governance practices. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Compensation Committee </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Our Compensation Committee is composed of two directors who are independent under the rules of NYSE, as currently in effect, and one non-independent director. The Compensation Committee oversees our equity incentive plan and recommends director and senior employee compensation. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Consideration of Director Nominees </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Nominating and Corporate Governance Committee uses a variety of methods to identify director nominees, such as professional search firms, shareholders or others. The committee considers properly submitted shareholder nominations for Board candidates. In evaluating director nominees, the committee considers the qualifications, skills, experience, background and knowledge of the nominees in light of the overall composition of the existing Board. For a description of the process for nominating directors in accordance with our bylaws, please read <font style="font-style:italic;">&#8220;Questions and Answers about the Proxy Materials and the Annual Meeting&#8201;&#8212;&#8201;What is the deadline to propose actions for consideration at next year&#8217;s annual meeting of shareholders or to nominate individuals to serve as directors?&#8221; </font>on page <a href="#tQA26">6</a> of this proxy statement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Exemptions from NYSE Corporate Governance Rules </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Pursuant to an exception for &#8220;foreign private issuers,&#8221; we, as a Marshall Islands company that satisfies the other requirements to qualify as a foreign private issuer, are not required to comply with certain corporate governance practices followed by U.S. companies under NYSE rules. We believe that our established corporate governance practices provide adequate protection to our shareholders. In this respect, we have voluntarily adopted a number of NYSE required practices, such as (i) having a majority of independent directors and (ii) establishing a compensation committee and a nominating and corporate governance committee. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following are the significant ways in which our corporate governance practices differ from those followed by U.S. domestic companies listed on the NYSE, and which differences are permitted by NYSE rules for &#8220;foreign private issuers&#8221; such as us: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The NYSE requires that U.S. issuers have an audit committee, a compensation committee and a nominating and corporate governance committee, each comprised entirely of independent directors. Our audit committee currently consists of three independent directors. Our compensation committee currently consists of two independent directors and one non-independent director. Our nominating and corporate governance committee currently consists of two independent directors and one non-independent director. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">9</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">As a foreign private issuer, we are not required to obtain shareholder approval prior to the adoption of equity compensation plans or certain equity issuances, including, among others, issuing 20% or more of our outstanding common shares or voting power in a transaction. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The NYSE requires companies to adopt and disclose corporate governance guidelines. The guidelines must address, among other things: director qualification standards, director responsibilities, director access to management and independent advisers, director compensation, director orientation and continuing education, management succession and an annual performance evaluation. We are not required to adopt such guidelines under Marshall Islands law and we have not adopted such guidelines. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">10</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tCD29">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">COMPENSATION OF DIRECTORS AND SENIOR MANAGEMENT </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Compensation Philosophy </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Our director and executive compensation policy aims to align the interests of our directors and management with those of our shareholders. In this regard, we have determined that it will generally be beneficial to us and to our shareholders for our directors and management to have a stake in our long-term performance. We expect that a meaningful component of our compensation package for our directors and management will consist of equity interests in Ardmore in order to promote this alignment of interests. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Equity Incentive Plan </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Our directors and officers are eligible to receive awards under our equity incentive plan. The plan provides incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, unrestricted stock and other equity-based or equity-related awards that the plan administrator determines are consistent with the purposes of the plan and the interests of Ardmore. The plan is administered by the Compensation Committee of the Board. For additional information about the plan please see Item 6.B of our Annual Report on Form 20-F for the year ended December 31, 2017. No awards were granted to our officers and directors under our equity incentive plan during 2017. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Director and Senior Management Compensation </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We paid $2.5 million in aggregate compensation to members of our senior executive officers for 2017. For 2017, each of our non-employee directors received cash compensation in the aggregate amount of $65,000, plus an additional fee of&#8201; $20,000 for each committee for which a director served as Chairman, $10,000 for each member of the audit committee and $5,000 for each member of other committees, plus reimbursements for actual expenses incurred while acting in their capacity as a director. Our Chairman received an additional $65,000 per year. We paid $660,000 in aggregate compensation to our directors for 2017. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Each director and officer is fully indemnified by us for actions associated with being a director to the extent permitted under Marshall Islands law. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">11</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tPV30">&#8203;</a><a name="tPE31">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">PROPOSALS TO BE VOTED ON </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">PROPOSAL NO. 1: ELECTION OF DIRECTORS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Ardmore&#8217;s Board currently consists of seven directors divided into three classes: Class I, Class II and Class III. The number of directors in each class is required to be as nearly equal as possible. At the 2018 annual meeting, shareholders will elect two Class II directors to serve for three-year terms until the 2021 annual meeting and until their successors are elected. The remaining five directors are divided into two Class I directors and three Class III directors, whose terms expire in 2019 and 2020, respectively. Votes may not be cast for a greater number of director nominees than two in 2018. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Information regarding the business experience of each nominee and each continuing director is provided below. There are no family relationships among our executive officers and directors. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If you sign your proxy or voting instruction card but do not give instructions for the voting of directors, your shares will be voted &#8220;FOR&#8221; the two persons recommended by the Board. If you wish to give specific instructions for the voting of directors, you may do so by indicating your instructions on your proxy or voting instruction card. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The two persons receiving the highest number of&#8201; &#8220;FOR&#8221; votes represented by shares of Ardmore&#8217;s common stock, present in person or represented by proxy and entitled to be voted at the annual meeting, will be elected. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Board expects that all of the nominees will be available to serve as directors. If for any unforeseen reason any of the Board&#8217;s nominees is not available as a candidate for director, the proxyholders, Anthony Gurnee, Paul Tivnan and Matthew Foley, will vote your proxy for such other candidate or candidates as may be nominated by the Board, unless the Board chooses to reduce the number of directors serving on the Board. </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;">The Board recommends a vote FOR the election to the Board of each of the following nominees:<font style="font-style:normal;font-weight:normal;"> </font></div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">INFORMATION ABOUT DIRECTORS STANDING FOR ELECTION </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Class II Directors (terms would expire in 2021) </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Anthony Gurnee</font><br >Director since 2013<br >Age 58 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Anthony Gurnee has been our President, Chief Executive Officer and a director of Ardmore since 2010. Between 2006 and 2008, he was the Chief Executive Officer of Industrial Shipping Enterprises, Inc., a containership and chemical tanker company, and Chief Operating Officer of MTM Group, an operator of chemical tankers. From 1992 to 1997, he was the Chief Financial Officer of Teekay Corporation, where he led the company&#8217;s financial restructuring and initial public offering. Mr. Gurnee began his career as a financier with Citicorp, and he served for six years as a surface line officer in the U.S. Navy, including a tour with naval intelligence. He is a graduate of the U.S. Naval Academy and earned an MBA at Columbia Business School, is a CFA charter holder, and a fellow of the Institute of Chartered Shipbrokers. </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Alan Robert McIlwraith</font><br >Director since 2013<br >Age 63 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Robert McIlwraith has served as a director of Ardmore since its IPO in August 2013. Mr. McIlwraith has been the owner of Redwood Management Consultants since April 2011 and has served as Chairman of the Exeter Initiative for Science and Technology (ExIST) since June 2011 and as a director of Exeter Science Park Ltd. since 2014. He has also served as Chairman of the Trustees of AmSafe Bridport Pension Scheme since 2000 and has been lecturing and teaching Operations Management, Accounting and Finance and Management Studies at INTO University of Exeter since January 2011. He has been a Trustee of Sidmouth Hospiscare since 2011. He previously served as the Interim President of Align Aerospace France from September 2016 to April 2017 and October 2011 to August 2012 and as a Managing Director and </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">12</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tID32">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">Executive Vice President for the global aerospace and defense business AmSafe Bridport from 1998 to 2011. Mr. McIlwraith earned his Bachelor&#8217;s degree in Mechanical Engineering from Cardiff University and is a Chartered Engineer and a Fellow of the Institution of Mechanical Engineers. </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">INFORMATION ABOUT DIRECTORS CONTINUING IN OFFICE </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Class III Directors (terms expire in 2019) </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Reginald Jones</font><br >Director since 2013<br >Age 58 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Reginald Jones is our Chairman and a director. Mr. Jones has been the Chairman and a director of Ardmore since 2010. Mr. Jones is a co-founder and Managing Partner of Greenbriar Equity Group LLC, a private equity firm managing over $3 billion of equity capital. Prior to founding Greenbriar in 1999, Mr.&#160;Jones spent 13 years at Goldman, Sachs &amp; Co., where he was a Managing Director and Group Head of global transportation investment banking. Prior to Goldman Sachs, he worked as a consultant at Bain &amp; Company. Mr. Jones earned a BA from Williams College and an MBA from the Harvard Business School. </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Brian Dunne</font><br >Director since 2013<br >Age 51 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Brian Dunne has been a director of Ardmore since June 2010. He is also a director of ReAssure Group and Ark Life Assurance Company (subsidiaries of SwissRe in the UK and Ireland), Aergen Aviation Finance and Chorus Aviation Capital. He was previously the Chairman of Aviva&#8217;s health insurance business in Ireland, a director of its Irish life and pensions business and a director of several other private companies. Mr. Dunne was the Chief Financial Officer of ACE Aviation Holdings Inc. (&#8220;ACE&#8221;) from 2005 until 2012 and was the President of the company in 2011 and 2012. ACE was the parent holding company of the reorganized Air Canada and a number of other entities including Aeroplan LP (now AIMIA Inc.) and Air Canada Jazz (now Chorus Aviation Inc.). Mr. Dunne was also a director of Air Canada from its initial public offering in 2006 until 2008. Prior to joining ACE, Mr. Dunne was Chief Financial Officer and a director of Aer Lingus Group plc. He started his career at Arthur Andersen in 1987 and became a partner in 1998. Mr. Dunne is a Fellow of the Institute of Chartered Accountants in Ireland and holds a Bachelor of Commerce degree and a post graduate diploma in Professional Accounting from the University College Dublin. </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Curtis McWilliams</font><br >Director since 2016<br >Age 62 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Curtis McWilliams was appointed as a director by the Board in January 2016. Mr. McWilliams is a real estate industry veteran with over 25 years of experience in finance and real estate. He currently serves as a member of the Ashford Hospitality Prime, Inc. Board of Directors. He retired from his position as President and Chief Executive Officer of CNL Real Estate Advisors, Inc. in 2010 after serving in the role since 2007. Mr. McWilliams was also the President and Chief Executive Officer of Trustreet Properties Inc. from 1997 to 2007, and a director of the company from 2005 to 2007. He served on the Board of Directors and as the Audit Committee Chairman of CNL Bank from 1999 to 2004 and has over 13 years of investment banking experience at Merrill Lynch &amp; Co. Mr. McWilliams has a Master&#8217;s degree in Business with a concentration in Finance from the University of Chicago Graduate School of Business and a Bachelor of Science in Engineering in Chemical Engineering from Princeton University. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">13</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:11pt;font-weight:bold;">Class I Directors (terms expire in 2020) </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Dr. Peter Swift</font><br >Director since 2013<br >Age 73 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Peter Swift has served as a director of Ardmore since its IPO in August 2013. Dr. Swift has had a distinguished career spanning more than 50 years in the maritime industry, and is presently serving in international non-profit and charitable directorships, including acting as the Vice Chairman of the Sailors&#8217; Society and a Trustee Member for the Maritime Piracy Humanitarian Response Programme (ISWAN), as a Member of the American Bureau of Shipping, the IMO Committee of the Royal Institution of Naval Architects and the Green Award Foundation, and as a Director of the Maritime Industry Foundation. Dr.&#160;Swift was previously the Managing Director of INTERTANKO from 2000 to 2010 and a Director of Seascope Shipping Limited from 1999 to 2001. He was employed by Royal Dutch Shell from 1975 to 1999 in a range of senior, international, commercial and technical positions. Dr. Swift holds a PhD in Transport Economics, an MS in Engineering degree from the University of Michigan, and a BSc in Naval Architecture from the University of Durham. He is a Chartered Engineer, a Fellow of the Royal Institution of Naval Architects and Member of the Society of Naval Architects and Marine Engineers. </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Mr. Albert Enste</font><br >Director since 2013<br >Age 59 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Albert Enste has served as a director of Ardmore since its IPO in August 2013. Mr. Enste currently serves as an active partner and Managing Director of both Enste &amp; American Investors Holding Gmbh and Federnfabrik Schmid AG. He also currently serves on the board of Federnfabrik Schmid AG Switzerland. Between 2006 and 2011, Mr. Enste served as the Vice President and General Manager of International Business at Electro-Motive Diesel, Inc. From 2000 to 2001, Mr. Enste headed worldwide locomotive sales as Vice President of Locomotives at DaimlerChrysler Rail Systems ADtranz and continued to hold this position, as well as that of Senior Director until 2006 with Bombardier Transportation after they acquired DaimlerChrysler Rail Systems ADtranz. Mr. Enste holds a Master of Engineering from the Technical University of Munich. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">14</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tCS33">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">COMMON STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following table sets forth information regarding beneficial ownership, as of April 23, 2018 (except as otherwise noted), of our common stock by: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">each person or entity known by us to beneficially own 5% or more of our common stock; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">all our current directors, executive officers and senior management, as a group. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The information provided in the table is based on information filed with the SEC and information provided to us. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The number of shares beneficially owned by each person, entity, director, executive officer or other member of senior management is determined under SEC rules and the information is not necessarily indicative of beneficial ownership for any other purpose. Under SEC rules, a person or entity beneficially owns any shares as to which the person or entity has or shares voting or investment power. In addition, a person or entity beneficially owns any shares that the person or entity has the right to acquire as of the date 60 days after April 23, 2018 through the exercise of any stock option or other right; however, any such shares are not deemed outstanding for the purpose of computing the percentage ownership of any other person. Unless otherwise indicated, each person or entity has sole voting and investment power (or shares such powers with his or her spouse) with respect to the shares set forth in the following table. </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">Beneficial Ownership Table </div>
        <table style="width:456pt;height:142pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:348.01pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="10">
              <div style="white-space:nowrap; text-align:center;">Shares Beneficially Owned </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">Identity of person or group </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">Number </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">Percentage<font style=" position:relative; bottom:3.25pt;font-size:6pt;">(1)</font> </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">Donald Smith &amp; Co., Inc.<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">3,063,262</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">9.44<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">FMR LLC<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,540,670</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">7.83<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">Royce and Associates LP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(4)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,108,775</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">6.50<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">Aristotle Capital Boston, LLC<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(5)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,058,374</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">6.34<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">Russell Investments Group Ltd<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(6)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,000,505</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">6.17<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">Cross River Capital Management LLC<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(7)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,675,013</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">5.16<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">Boston Partners<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(8)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,669,220</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">5.14<font style="position:absolute;">%</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:348.01pt;text-align:left;">
              <div style="white-space:nowrap;">All directors and executive officers as a group </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;"><font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;"></font>*</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;"><font style="position:relative;">&#8203;</font><font style="position:absolute;"><font style="font-weight:bold;"></font>*</font></td>
            <td style="padding:0pt;padding-left:12.93pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:13.89pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:11.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:11.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Based on 32,445,415 shares of common stock outstanding on April 23, 2018. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
        <div style=" float:left; margin-top:9.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">This information is based on the Schedule 13G filed with the SEC on February 12, 2018. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(3)<br ></div>
        <div style=" float:left; margin-top:9.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">This information is based on the Amendment No. 3 to Schedule 13G filed with the SEC on February&#160;13, 2018. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(4)<br ></div>
        <div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">This information is based on the Amendment No. 2 to Schedule 13G filed with the SEC on January 24, 2018. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(5)<br ></div>
        <div style=" float:left; margin-top:9.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">This information is based on the Schedule 13G filed with the SEC on February 14, 2018. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(6)<br ></div>
        <div style=" float:left; margin-top:9.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">This information is based on the Form 13F filed with the SEC on February 6, 2018. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(7)<br ></div>
        <div style=" float:left; margin-top:9.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">This information is based on the Schedule 13G filed with the SEC on February 20, 2018 and was filed by the parties noted below. Cross River Capital Management LLC, Cross River Management LLC and Cross River Partners LP beneficially own 1,623,913 shares and Richard Murphy beneficially owns 1,675,013 shares. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(8)<br ></div>
        <div style=" float:left; margin-top:9.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">This information is based on the Schedule 13G filed with the SEC on February 13, 2018. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">*<br ></div>
        <div style=" float:left; margin-top:9.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Less than 1% of outstanding shares of our common stock. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">15</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-indent:20pt; width:456pt; line-height:12pt;">As of February 28, 2018, we had two shareholders of record located in the United States, one of which is CEDE &amp; CO., a nominee of The Depository Trust Company, which held an aggregate of 32,323,095 shares of our common stock, representing approximately 99.62% of our outstanding shares of common stock. We believe that the shares held by CEDE &amp; CO. include shares of common stock beneficially owned by both holders in the United States and non-U.S. beneficial owners. We are not aware of any arrangements the operation of which may at a subsequent date result in our change of control. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">16</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tCR34">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">One member of our Board, Reginald Jones, was affiliated with GA Holdings LLC, formerly our largest shareholder. Anthony Gurnee, our Chief Executive Officer and a member of Board, was formerly the beneficial owner of 1.88% of the outstanding equity interests of GA Holdings LLC. Any transaction involving the payment of compensation to a director or officer in connection with their duties to Ardmore is not a related party transaction. For more information, including our repurchase of shares of our common stock from GA Holdings LLC in connection with its November 2017 sale to the public of shares&#160;of our common stock it held, please read &#8220;Item 6.A Directors, Senior Management and Employees-Directors and Senior Management&#8221; and &#8220;Item 7. Major Shareholders and Certain Relationships and Related Party Transactions&#8221; of our Annual Report on Form 20-F filed with the SEC on March 29, 2018. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">17</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tEO35">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">EXECUTIVE OFFICERS AND SENIOR MANAGEMENT </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following table provides information about our executive officers and senior management. Ages are as of May 3, 2018. </div>
        <table style="width:456pt;height:80.5pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:138pt;">
              <div style="white-space:nowrap;">Name </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:24pt;text-align:center;">
              <div style="white-space:nowrap; text-align:center;">Age </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:270pt;">
              <div style="white-space:nowrap;">Position </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:138pt;">Anthony Gurnee </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:24pt;text-align:center;">
              <div style="text-align:center;">58 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:270pt;">President and Chief Executive Officer </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:138pt;">Mark Cameron </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:24pt;text-align:center;">
              <div style="text-align:center;">52 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:270pt;">Executive Vice President and Chief Operating Officer </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:138pt;">Paul Tivnan </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:24pt;text-align:center;">
              <div style="text-align:center;">38 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:270pt;white-space:normal;">Senior Vice President, Chief Financial Officer, Secretary and Treasurer </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.99999999999999pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:138pt;">Gernot Ruppelt </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:24pt;text-align:center;">
              <div style="text-align:center;">36 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.833pt 0pt; width:270pt;">Senior Vice President and Chief Commercial Officer</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <table style="width:456pt;margin-top:11pt;border-collapse: collapse;">
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="font-weight:bold;">Anthony Gurnee</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:330pt;white-space:normal;">For information on the business background of Mr. Gurnee, see &#8220;Information About Directors Standing for Election&#8221; above. </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="font-weight:bold;">Mark Cameron</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:330pt;white-space:normal;">Mr. Cameron is the Executive Vice President and Chief Operating Officer for Ardmore. Mr. Cameron joined Ardmore as Executive Vice President and Chief Operating Officer and was appointed an alternate director in June 2010. In addition, Mr Cameron is the current Chairman of the International Parcel Tankers Association (IPTA), is on the Board of the West Of England P&amp;I Club and is also an advisory Board Member to the NGO Carbon War Room. From 2008 to 2010, Mr. Cameron served as Vice President, Strategy and Planning for Teekay Marine Services, Teekay Corporation&#8217;s internal ship management function. Mr. Cameron spent 11 years at sea rising to the rank of Chief Engineer with Safmarine and later AP Moller, including time served onboard bulk carriers, salvage tugs, tankers, general cargo, reefer and container ships. Mr. Cameron has held a number of senior management roles ashore specializing in integrating acquisitions covering all facets of ship management, as well as sale and purchase, newbuilding supervision, personnel management, procurement, fleet management and technical supervision. </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="font-weight:bold;">Paul Tivnan</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:330pt;white-space:normal;">Mr. Tivnan is Senior Vice President, Chief Financial Officer, Secretary and Treasurer of Ardmore. Mr. Tivnan joined Ardmore in June 2010 and was appointed Chief Financial Officer in December 2012. From 2002 to 2010, he was employed at Ernst &amp; Young in the Financial Services Advisory department specializing in international tax and corporate structuring. He was a participant in Ernst &amp; Young&#8217;s Accelerated Leadership Program from 2008 to 2010. Mr. Tivnan holds a BA in Accounting and Finance and an MBS in Accounting each from Dublin City University. He is a graduate of the London Business School Executive Leadership program, a Fellow of the Institute of Chartered Accountants of Ireland, an Associate of the Irish Taxation Institute and a member of the Institute of Chartered Shipbrokers. </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:114pt;">
              <div style="font-weight:bold;">Gernot Ruppelt</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:330pt;white-space:normal;">Mr. Ruppelt is the Chief Commercial Officer and Senior Vice President. Mr.&#160;Ruppelt has been in charge of Ardmore&#8217;s commercial activities since joining as Chartering Director in 2013, and was promoted to his current position in December 2014. Mr. Ruppelt has extensive commercial and management experience in the maritime industry. Prior to Ardmore he had been a Projects Broker with Poten &amp; Partners in New York for five years and, for seven years before that, Mr. Ruppelt worked for Maersk Broker and A.P. Moller&#8201;&#8212;&#8201;Maersk in Copenhagen, Singapore and Germany. Mr. Ruppelt is a director of Anglo Ardmore Ship Management Limited. He also represents Ardmore at the INTERTANKO Council and as a member of their Worldscale &amp; Markets Committee. Mr. Ruppelt completed the two-year &#8216;Maersk International Shipping Education&#8217; program and graduated from Hamburg Shipping School. He is also a member of the Institute of Chartered Shipbrokers in London.</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">18</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Executive Employment Agreements </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We have entered into employment agreements with four of our executive officers and key employees: Anthony Gurnee, Paul Tivnan, Mark Cameron and Gernot Ruppelt. These employment agreements became effective as of August 1, 2013 and all will terminate in accordance with their terms. Pursuant to the terms of their respective employment agreements, our executive officers are prohibited from disclosing or unlawfully using any of our material confidential information. The employment agreements also include one-year non-solicitation and a one-year non-compete clauses following the cessation of the employee&#8217;s employment with us. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The employment agreements require that we maintain director and officer insurance and that we indemnify and hold the employee harmless against all expenses, liability and loss (including reasonable and necessary attorneys&#8217; fees, judgments, fines and amounts paid in settlement) in connection with any threatened or pending action, suit or proceeding, to which the employee is a party or is threatened to be made a party as a result of the employee&#8217;s employment with us. The indemnification provisions exclude fraud, willful misconduct or criminal activity on the employee&#8217;s behalf. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">19</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tPA36">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">PRINCIPAL AUDITOR FEES AND SERVICES </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">Our principal accountants for the fiscal years 2017 and 2016 were Ernst &amp; Young. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;">Audit Fees</font>.&nbsp;&nbsp;&nbsp;The audit fees for the audit of each of the years ended December 31, 2017 and 2016 were $0.4 million for each year. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;">Audit-Related Fees</font>.&nbsp;&nbsp;&nbsp;The audit-related fees billed by our principal accountants in 2017 and 2016 were $142,000 and $60,000, respectively. </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;font-style:italic;">Tax Fees<font style="font-style:normal;">.&nbsp;&nbsp;&nbsp;There were no tax fees billed by our principal accountants in 2017 or 2016. </font></div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;font-style:italic;">Other Fees<font style="font-style:normal;">.&nbsp;&nbsp;&nbsp;There were no other fees billed by our principal accountants in 2017 or 2016. </font></div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Audit Committee of the Board is responsible for the appointment, replacement, compensation, evaluation and oversight of the work of the independent auditors. As part of this responsibility, the audit committee pre-approves the audit and non-audit services performed by the independent auditors in order to assure that they do not impair the auditors&#8217; independence. The Audit Committee has adopted a policy which sets forth the procedures and the conditions pursuant to which services proposed to be performed by the independent auditors may be pre-approved. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Audit Committee separately pre-approved all engagements and fees paid to our principal accountants in 2017 and 2016. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">20</div>
      </div>
      <hr >
    </div>
    <div style=" width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC2">TABLE OF CONTENTS</a><a name="tRA37">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:11pt;font-weight:bold;">REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Audit Committee, among other things, reviews our external financial reporting, engages our external auditors and oversees our financial reporting procedures and the adequacy of our internal accounting controls. The Audit Committee has the authority to obtain advice and assistance from outside legal, accounting or other advisors as the Audit Committee deems necessary to carry out its duties and to receive appropriate funding, as determined by the Audit Committee, from us for such advice and assistance. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Ardmore&#8217;s management has primary responsibility for preparing Ardmore&#8217;s consolidated financial statements and for Ardmore&#8217;s financial reporting process. Our independent auditors, Ernst &amp; Young, Dublin, Ireland, are responsible for expressing an opinion on the conformity of our audited consolidated financial statements with accounting principles generally accepted in the United States. </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">In this context, the Audit Committee reports as follows: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">1.<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The Audit Committee has reviewed and discussed the audited consolidated financial statements for 2017 with Ardmore&#8217;s management. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">2.<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The Audit Committee has discussed with the independent auditors the matters required to be discussed by Statement of Auditing Standards No. 1301, as adopted by the U.S. Public Company Accounting Oversight Board, as amended or modified. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">3.<br ></div>
        <div style=" float:left; margin-top:8.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The Audit Committee has received the letter and written disclosures from the independent auditors required by the Public Company Accounting Oversight Board<font style="font-style:italic;">, </font>and has discussed the matter of independence with the independent auditors. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">4.<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Based on the review and discussions referred to in paragraphs (1) through (3) above, the Audit Committee has recommended to the Board, and the Board has approved, that Ardmore&#8217;s audited consolidated financial statements be included in Ardmore&#8217;s Annual Report on Form 20-F for 2017, for filing with the SEC. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">The undersigned members of the Audit Committee have submitted this Report to the Board. </div>
        <div style="margin-left:220pt; margin-top:6pt; width:236pt; line-height:12pt;">Brian Dunne, Chair<br >Alan Robert McIlwraith<br >Curtis McWilliams </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">21</div>
      </div>
      <hr >
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>lg_ardmore.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 lg_ardmore.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    /   _^X #D%D
M;V)E &3      ?_; (0 !@0$! 4$!@4%!@D&!08)"P@&!@@+# H*"PH*#! ,
M# P,# P0# X/$ \.#!,3%!03$QP;&QL<'Q\?'Q\?'Q\?'P$'!P<-# T8$! 8
M&A41%1H?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?
M'Q\?'Q\?'Q\?_\  $0@ 9 !D P$1  (1 0,1 ?_$ *L   (" P$!
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MR2/4>5%D)S1WD/)^TVH*&WN)H::!-,KI\R/_ +S!_P#&-?\ ,/TW_'^A^_\
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MPH<+CYDVTQ_ ;B(]5]6SX^/S>7@[^CRGO,,*RW._X<?;WFBWV?&OM[A\:*^
I/)GX1\CPL!Q?*9.+AT<7])C]^E=[N5^>HRM<*?+0DM4EH4 % !0!_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
