FRN American Shipping Company ASA Senior Unsecured Callable PIK Bond Issue 2007/2012 (ISIN NO 001 035651.2) - Summons of Bondholders Meeting
Today, at the request of American Shipping Company ASA, the loan trustee of the issued Senior Unsecured Callable PIK Bond (ISIN NO 001 035651.2), Norsk Tillitsmann ASA has called a bondholders meeting for October 5, 2011 to consider a request for extension of the maturity date of the loan from 28 February 2012 to 28 February 2018. It is further proposed that the equity requirement of USD 80 million in Clause 13.2 of the Loan Agreement is deleted and that the borrower may, in its sole discretion, make any of the interest payments until the maturity date in the form of additional bonds (Payment-in-Kind).
American Shipping Company ASA has received notice that Aker ASA, directly or through one of its subsidiaries, is offering to purchase all outstanding bonds for an offer price equaling 40% of the bonds' par value as of the last interest date, being 29 August 2011.
Please find the summons attached.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
