Reference is made to previous stock exchange announcements, i.a. on 27 June 2013 and 23 December 2013, issued by Converto Capital Fund AS ("CCF"), a subsidiary of Aker ASA, relating to 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 with final expiry date on June 27, 2014. The swap may be issued as three months rolling contracts and CCF has today entered into a new contract with expiry 27 June 2014, with a swap price of NOK 41.3198 per share.
As per today, CCF holds 11,557,022 shares in AMSC, equaling 19.07 per cent of the shares and votes of AMSC. In addition to the financial exposure provided by the said swap agreement, CCF also has, as previously announced, financial exposure to 4,005,100 shares in AMSC under a total return swap agreement, equal to 6.61 % of the share capital of AMSC.
Lars Solbakken, CEO of Ocean Yield ASA, a subsidiary of Aker ASA, is a board member of AMSC.
The information contained herein is subject to the disclosure requirements of section 4-2 of the Norwegian Securities Trading Act.