Lysaker, October 19, 2023 - Reference is made to the announcements made on
August 22, 2023 regarding the signing by AMSC ASA ("AMSC") and Project Merchant
Acquisition LLC (the "Buyer"), a newly-formed company owned and controlled by a
fund managed by Maritime Partners, LLC, of a share purchase agreement for the
Buyer's purchase of American Tanker Holding Company, Inc., a wholly-owned
subsidiary of AMSC (the "Transaction").
AMSC is pleased to announce that the Transaction was successfully completed
today. The Transaction comprised all of AMSC's Jones Act business including the
10 MR tankers, respective bareboat contracts, secured bank debt, unsecured bond
and US corporate structure.
As previously indicated, the board of directors of AMSC intends to resolve that
USD 170 million of the cash proceeds from the Transaction are distributed to
shareholders as an additional dividend as soon as practically possible.
Company Contacts
Pål Lothe Magnussen, +47 90 54 59 59, pm@amscasa.com
About AMSC
Established in 2005 and listed on the Euronext Oslo Stock Exchange (ticker
AMSC), AMSC owns the subsea construction vessel Normand Maximus, which is
bareboat chartered to a single purpose subsidiary of Solstad Offshore ASA.
Further information is available at www.amscasa.com.
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This information is considered to include inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Leigh Jaros, Controller, AMSC
ASA, on October 19, 2023 at 00:45 CET.