AMSC ASA — Major Shareholding Notification 2016

Dec 23, 2016

American Shipping Company ASA: Major shareholder disclosure

American Shipping Company ASA: Major shareholder disclosure

Aker Capital II AS has today completed a parent-subsidiary merger with its

parent company Aker Capital AS (owning 100% of the shares in Aker Capital II AS

prior to the merger), with Aker Capital AS as the surviving entity.

As part of the parent-subsidiary merger, Aker Capital AS has assumed Aker

Capital II AS' holding of shares in American Shipping Company ASA. Following

completion of the parent-subsidiary merger, Aker Capital AS accordingly owns

11,557,022 of the issued shares and votes in American Shipping Company ASA, or

19.07 per cent of the share capital. Through two TRS agreements, Aker Capital AS

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

Company ASA, equal to 30.83 per cent of the share capital of the company.

END

This information is subject to the disclosure requirements pursuant to section

4-3 of the Norwegian Securities Trading Act.