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2016-02-18

Nordic American Offshore Ltd: Nordic American Offshore Ltd. (NYSE:NAO) - Announces agreement to acquire shares in NAO together with the Executive Chairman in a

Hamilton, Bermuda, February 18, 2016.

The NYSE listed Nordic American Offshore Ltd. ("NAO" or "the Company") today
announced that it has agreed to acquire in a private transaction 1,571,749 of
its common shares at a price of $4.50 per share. The closing price for the
NAO common stock on the New York Stock Exchange on February 17, 2016, was
$4.37. NAO has the right to nominate the purchasers in this private
transaction.

In addition, the Company's Executive Chairman, Herbjorn Hansson, and members
of his family have increased their investment in NAO by purchasing 100,000
shares on the same terms as NAO. Following these transactions, there are
20,765,485 shares in issue in NAO.

Herbjorn Hansson, commented: "These transactions are a further evidence of our
belief in Nordic American Offshore Ltd."

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements in order to encourage
companies to provide prospective information about their business.
Forward-looking statements include statements concerning plans, objectives,
goals, strategies, future events or performance, and underlying assumptions
and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intend," "estimate," "forecast," "project,"
"plan," "potential," "may," "should," "expect," "pending" and similar
expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were reasonable
when made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict
and are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. We undertake no
obligation to update any forward-looking statement, whether as a result of
new information, future events or otherwise.

Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions,
including fluctuations in charter rates and vessel values, changes in demand
in the PSV market, as a result of changes in the general market conditions of
the oil and natural gas industry which influence charter hire rates and
vessel values, demand in platform supply vessels, our operating expenses,
including bunker prices, dry docking and insurance costs, governmental rules
and regulations or actions taken by regulatory authorities as well as
potential liability from pending or future litigation, general domestic and
international political conditions, potential disruption of shipping routes
due to accidents or political events, the availability of financing and
refinancing, vessel breakdowns and instances of off-hire and other important
factors described from time to time in the reports filed by the Company with
the Securities and Exchange Commission.

Contacts:

Herbjørn Hansson, Executive Chairman
Nordic American Offshore Ltd.
Tel: +1 866 805 9504 or + 47 90 14 62 91

Gary J. Wolfe
Seward&Kissel LLP, New York, USA
Tel: +1 212 574 1223

Web-site: www.nao.bm

Press release PDF
http://hugin.info/159489/R/1987197/729330.pdf

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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: Nordic American Offshore Ltd via Globenewswire

HUG#1987197

Författare WKR

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