American Shipping Company ASA: Primary Insider Notification
November 10 2016 - 1:55AM
Reference is made to previous stock exchange announcements of 11
January 2016 and 5 November 2015 relating to Aker ASA's ("Aker")
indirect 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.
Aker, through its wholly-owned subsidiary Aker Capital II AS, has
today terminated said agreements. Concurrently with the termination
Aker Capital AS, a wholly-owned subsidiary of Aker and the direct
owner of Aker Capital II AS, has 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 1 December 2017. The swap prices for
the contracts with SEB and DNB are NOK 24.5841 and NOK 24.6133 per
share respectively.
In addition to the financial exposure provided by the
abovementioned two swap agreements, through Aker Capital II AS,
Aker 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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