American Shipping Company ASA : Primary Insider Notification
December 01 2017 - 2:30AM
Reference is made to previous stock exchange
announcement of 10 November 2016 relating to Aker ASA's ("Aker")
indirect total return swap ("TRS") agreements with financial
exposure to 18,687,620 underlying shares in American Shipping
Company ASA ("AMSC"), equal to 30.83 per cent of the share capital
in AMSC.
In connection with the expiry of said
agreements, Aker, through its wholly-owned subsidiary Aker Capital
AS, has today entered into two new TRS agreements with
Skandinaviska Enskilda Banken AB ("SEB") and DNB Bank ASA ("DNB")
with financial exposure to 9,182,520 and 9,505,100 underlying
shares in AMSC respectively. The expiry date of the new TRS
agreements has been set to 30 November 2018. The swap prices for
the contracts with SEB and DNB are NOK 20.6575 and NOK 20.6514 per
share respectively.
In addition to the financial exposure provided
by the abovementioned two swap agreements, Aker Capital AS also
holds 11,557,022 shares in AMSC, equaling 19.07 per cent of the
shares and votes of AMSC.
The information contained herein is subject to
the disclosure requirements of section 4-2 of the Norwegian
Securities Trading Act.
This information is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: American Shipping Company ASA via
Globenewswire
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