Nordic American Offshore Ltd. (NYSE:NAO) - the Executive Chairman and his family increase its holding in NAO.
October 03 2017 - 10:48AM
Hamilton, Bermuda, October 3, 2017
A company owned by the NAO Executive Chairman, Herbjorn Hansson
and his son, Alexander, today bought 500,000 shares in NAO at an
average price of $1.48 per share. Following today's transaction,
the Hansson family holds shares equivalent to 13.2% of the common
shares of NAO.
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," "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 90 14
62 91
Gary J. WolfeSeward & Kissel LLPNew York, USATel: +1 212 574
1223
Web-site: www.nao.bm
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/e8f4a196-0e15-4170-8ed6-156e133bd877
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