Nordic American Offshore Ltd. (NYSE:NAO) Results of Annual General Meeting of Shareholders
December 18 2017 - 8:27AM
YASTEST
Hamilton, Bermuda, December 18, 2017
Nordic American Offshore LTD (the
"Company") (NYSE: NAO) conducted its Annual General Meeting of
Shareholders (the "Meeting") on December 12, 2017 in Hamilton,
Bermuda. The following resolutions were approved and adopted
at the Meeting:
1.
Election of David M. Workman as Class A Director to serve until the
2020 Annual General Meeting of Shareholders. After this AGM, the
Board of Directors consist of:
- Herbjørn
Hansson (Executive Chairman)
- Marianne
Lie (Executive Vice Chair)
- Jim
Kelly
- Paul J.
Hopkins
- David
Workman
2.
Approval of the appointment of KPMG AS as the Company's independent
auditors until the close of the next Annual General Meeting of
Shareholders; and
3.
Approval of the reduction of the Company's share premium account by
approximately $391.2 million, to zero as of December 29, 2017. This
accounting adjustment is implemented to facilitate dividend
adjustment under Bermuda law.
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 Chairman
Nordic American Offshore Ltd.
Tel: +1 866 805 9504 or + 47 901 46 291
Bjørn Giæver, CFO
Nordic American Offshore Ltd.
Tel: +1 888 755 8391 or +47 91 35 00 91
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223
Web-site: http://www.nao.bm/
SK 28327 0001 7761294
Press release (PDF)
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: Nordic American Offshore Ltd via
Globenewswire
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