AMSC ASA - Director's Dealing 2017

American Shipping Company ASA : Primary Insider Notification

Reference is made to previous stock exchange announcement of 10 November 2016

relating to Aker ASA's ("Aker") indirect total return swap ("TRS") agreements

with financial exposure to 18,687,620 underlying shares in American Shipping

Company ASA ("AMSC"), equal to 30.83 per cent of the share capital in AMSC.

In connection with the expiry of said agreements, Aker, through its wholly-owned

subsidiary Aker Capital AS, has today entered into two new TRS agreements with

Skandinaviska Enskilda Banken AB ("SEB") and DNB Bank ASA ("DNB") with financial

exposure to 9,182,520 and 9,505,100 underlying shares in AMSC respectively. The

expiry date of the new TRS agreements has been set to 30 November 2018. The swap

prices for the contracts with SEB and DNB are NOK 20.6575 and NOK 20.6514 per

share respectively.

In addition to the financial exposure provided by the abovementioned two swap

agreements, Aker Capital AS also holds 11,557,022 shares in AMSC, equaling

19.07 per cent of the shares and votes of AMSC.

The information contained herein is subject to the disclosure requirements of

section 4-2 of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

AI assistant