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2016-01-18

American Shipping Company ASA: American Shipping Company ASA :Primary insider disclosure

18 January 2016 - On April 22, 2015, the Annual General Meeting of American
Shipping Company ASA ("AMSC" or the "Company") granted the Board of Directors
of AMSC an authorization to purchase treasury shares in connection with the
Company's incentive scheme for employees. In accordance with this
authorization, the Company will today place an order with an investment
broker for purchase of 30,000 treasury shares, with execution from January
19, 2016 and onwards.

The 30,000 shares will be sold to the Company's CEO, Pål Magnussen, as part of
the incentive scheme for the Company's employees. The purchase price shall be
the stock price at the date AMSC delivers the shares, less a price reduction
of 20% to compensate for the lock-up restrictions on the shares for a period
of three years.
Following the acquisition of the shares, Pål Magnussen will hold 50,000 shares
in AMSC, constituting approximately 0.08% of the Company's shares and votes.
***

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: American Shipping Company ASA via Globenewswire

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