Increased NAT Ownership in Nordic American Offshore

In the NAT press release of December 1, 2014, we informed the investor market that NAT had acquired further shares in Nordic American Offshore Ltd. (NAO), increasing the ownership from 17.1% to 18.0%. Following the weaker stock market environment in the oil sector, NAT ownership in NAO has increased to 19.2% the first two days of this week.

 

The recent aggregate NAT purchase of 488,216 shares in NAO amounts to an investment of $5.8 million. The shares were bought in the open market during the period November 28, 2014 through December 9, 2014 at prices ranging from $12.89 to $10.39 per share. NAO has 23,431,370 shares in issue.

Nordic American Offshore Ltd. is a separate and independent company of NAT. A subsidiary of NAT is the business manager of NAO as it is for NAT.

NAO was listed on the New York Stock Exchange June 12, 2014 and owns 10 platform supply vessels of which four are newbuildings to be delivered in 2015.