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 23 June 2020 where the Company announced its intention to purchase up to 52,000 treasury shares in connection with its incentive program for employees. American Shipping Company has on 25 June 2020 purchased 14,492 shares in the Company on the Oslo Stock Exchange at an average price of NOK 24,9311 per share, which implies a total consideration of NOK 361,302. The purchase of treasury shares was carried out in accordance with an authorization granted by the Annual General Meeting of the Company on 27 April 2020.

Following the transaction, the Company holds a total of 52,000 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.