Reference is made to previous stock exchange announcement of 18 December 2014 issued by Converto Capital Fund AS ("CCF"), a subsidiary of Aker ASA, relating to the entry into a TRS agreement with financial exposure to 9,182,520 underlying shares in American Shipping Company ASA ("AMSC"), equal to 15.15 per cent of the share capital of AMSC. CCF has today terminated said agreement and entered into a new TRS agreement giving financial exposure to 9,182,520 underlying shares in AMSC, equal to 15.15 per cent of the share capital of AMSC. The expiry date of the new TRS agreement has been set to 21 November 2016. The swap price for the contract is NOK 35.5886 per share.
The stock exchange announcement of 18 December 2014 also announced the entry into a second TRS agreement with financial exposure to 4,005,100 shares in AMSC, equal to 6.61 per cent of the share capital of AMSC. CCF has today terminated this agreement and entered into a new TRS agreement with financial exposure to 4,005,100 shares in AMSC, equal to 6.61 per cent of the share capital of AMSC. The expiry date of the new TRS agreement has been set to 21 November 2016. The swap price for the contract is NOK 35.6166 per share.
In addition to the financial exposure provided by the abovementioned two swap agreements, CCF 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.