American Shipping Company ASA: Purchase of Treasury Shares

Reference is made to American Shipping Company ASA's ("American Shipping Company" or "Company") stock exchange notice on 15 April 2020 where the Company announced its intention to purchase up to 40,000 treasury shares in connection with its incentive program for employees. American Shipping Company has on 20 April 2020 purchased 20,000 shares in the Company on the Oslo Stock Exchange at an average price of NOK 24,5089 per share, which implies a total consideration of NOK 490,178. The purchase of treasury shares was carried out in accordance with an authorization granted by the Annual General Meeting of the Company on 25 April 2019.

Following the transaction, the Company holds a total of 40,000 treasury shares and has thereby completed its announced buyback programme for the Company’s incentive programme for employees.

The information contained herein is subject to the disclosure requirements of section 4-2 and 5-12 of the Norwegian Securities Trading Act.