27 January 2016 - Pål Magnussen, the CEO of American Shipping Company ASA ("AMSC" or the "Company"), has today acquired 30,000 shares in AMSC from the Company. The price per share was NOK 19.44, a total consideration of NOK 583,200, which constitutes today's closing price, less a price reduction of 20% to compensate for the lock-up restrictions on the shares for a period of three years.
The acquisition was carried out as part of the incentive scheme for the Company's employees, as announced in a stock exchange notice of January 18, 2016.
Following the transaction, the Company holds 0 treasury shares and Pål Magnussen holds a total of 50,000 shares in AMSC, constituting approximately 0.08% of the Company's shares and votes.
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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.