Reference is made to the resolution made by the ordinary general meeting in American Shipping Company ASA (the “Company”) on 22 April 2022 to reduce the Company’s share capital by reduction of the nominal value of each share from NOK 10 to NOK 1. The reduced amount will be transferred to other equity and will constitute unrestricted other deposited equity.
The creditor notice period for the share capital reduction expired on 7 June 2022 with no objections received, and the share capital reduction has now been completed by registration in the Norwegian Register of Business Enterprises. The number of shares in issue is unchanged, but the nominal value per share in the Company is now NOK 1. As a result, the Company’s new share capital is NOK 60,616,505, divided into 60,616,505 shares, each having a nominal value of NOK 1.00.
Company contacts:
Pål Magnussen, Chief Executive Officer +47 90 54 59 59
Morten Bakke, Chief Financial Officer +47 900 955 94
Leigh Jaros, Controller +1 484 880 3741
About American Shipping Company ASA:
Established in 2005 and listed on the Euronext Oslo Stock Exchange, AMSC is a ship owning company with nine modern handy size product tankers, one modern handy size shuttle tanker and one subsea construction vessel on bareboat charters with various counterparties. AMSC has a significant contract backlog, as well as a profit sharing agreement with Overseas Shipholding Group, which offers visibility with respect to future earnings and potential dividend capacity. The Company has an ambition to pay attractive dividends to its shareholders.
Further information is available at www.americanshippingco.com.
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This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.