Reference is made to the stock exchange release dated
8 January 2016, regarding the offer from DNB Markets,
part of DNB Bank ASA ("DNB") to acquire, subject to
amendments, between 2 million shares and 5 million
shares (equal to 3.3% to 8.25% of the outstanding
shares) in American Shipping Company ASA ("AMSC") at a
price of NOK 26 per share (the "Offer"). The Offer was
made by DNB to hedge its exposure under a total return
swap between DNB and Aker Capital II AS (formerly
Converto Capital Fund AS), a wholly-owned subsidiary
of Aker ASA.
Based on the shares tendered in the Offer, DNB has
accepted to acquire 5,500,000 shares (equal to 9.07%
of the outstanding shares) in AMSC at a price of NOK
26 per share. Trade date will be 11 January 2016 and
settlement will take place on 13 January 2016.
Following the transaction, DNB holds a total of
9,505,100 shares in AMSC, constituting 15.68% of
AMSC's shares and votes.
Please contact:
Alexander Opstad
DNB Markets
+47 91844232
alexander.opstad@dnb.no