Nordic American Offshore Ltd. (NYSE:NAO) Announces receipt of notices from the NYSE which have been corrected
June 06 2017 - 7:48AM
Hamilton, Bermuda, June 6, 2017
Nordic American Offshore Ltd. (the "Company") announced today
that it received notice from the New York Stock Exchange (the
"NYSE"), dated May 8, 2017, that the Company at that time was not
in compliance with the NYSE's continued listing standards because
the average closing price of the Company's common shares was less
than $1.00 per share over a 30 trading-day period. This
non-compliance has been corrected.
On June 1, 2017, NYSE informed NAO that the non-compliance had
been corrected.
About the Company The Company is an international company
formed for the purpose of acquiring, owning and operating platform
supply vessels, or PSVs, and currently owns ten high quality PSVs
constructed at shipyards in Norway during the period from 2012 to
2016.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words "believe,"
"anticipate," "intend," "estimate," "forecast," "project," "plan,"
"potential," "will," "may," "should," "expect," "pending" and
similar expressions identify forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions
were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations, beliefs or projections. We undertake no
obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise.
Important factors that, in our view, could cause actual results
to differ materially from those discussed in the forward-looking
statements include the strength of world economies and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand in the PSV market, as a result
of changes in the general market conditions of the oil and natural
gas industry which influence charter hire rates and vessel values,
demand in platform supply vessels, our operating expenses,
including bunker prices, dry docking and insurance
costs, governmental rules and regulations or actions taken by
regulatory authorities as well as potential liability from pending
or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to
accidents or political events, the availability of financing and
refinancing, vessel breakdowns and instances of off-hire and other
important factors described from time to time in the reports filed
by the Company with the Securities and Exchange Commission.
Contacts: Herbjørn
Hansson, Executive ChairmanNordic American Offshore Ltd.Tel:
+1 866 805 9504 or + 47 901 46 291 |
Gary J. WolfeSeward &
Kissel LLP, New York, USATel: +1 212 574 1223 |
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/10bc8897-49ab-4506-9250-ff4907b69864
Nordic American Offshore Ltd. (NYSE:NAO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nordic American Offshore Ltd. (NYSE:NAO)
Historical Stock Chart
From Sep 2023 to Sep 2024