American Shipping Company ASA - Primary insider disclosure

Reference is made to American Shipping Company ASA's ("American Shipping Company" or the "Company") stock exchange notice on 20 April 2020 where the Company announced that it had completed its up to 40,000 share buyback program in connection with its incentive program for employees. The shares have on 22 April 2020 been transferred to the relevant employees and primary insiders in accordance with the incentive program, as further set out in the stock exchange notice published by the Company on 15 April 2020.  The shares were allocated to the employees at an average price of NOK 19.92 per share. Following this distribution, the Company holds 0 treasury shares.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.