American Shipping Company ASA: Purchase of Treasury Shares

Reference is made to American Shipping Company ASA's ("American Shipping Company" or the "Company") stock exchange notice on 25 June 2020 where the Company announced that it had completed its up to 52,000 share buyback programme in connection with its incentive program for employees. Instructions have been made on 29 June 2020, for the shares to be 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 23 June 2020.  The shares were allocated to the employees at an average price of NOK 20.00 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.