Nordic American Tankers Ltd (NAT) – All board members buy shares in NAT

Rhea-AI Summary

On September 30, 2021, board member Dough Penick of Nordic American Tankers (NAT) purchased 50,000 shares at $2.565 each, raising his total holdings to 175,000 shares. This action reflects confidence in the company's future, as all NAT board members have increased their shareholdings throughout September. The company emphasizes that this trend indicates a strong belief in NAT's prospects and stability.

Positive

• Board member purchases increase investor confidence.
• All board members have raised their shareholdings, signaling strong internal belief in NAT's future.

Negative

• None.

Friday, October 1, 2021

Dear Shareholders and Investors, 

This is to advise you that our board member Dough Penick of Dallas, yesterday (Thursday September 30, 2021) bought 50,000 shares at
$ 2.565 per share, increasing his holding to 175,000 NAT shares. Dough Penick was elected to the NAT Board July 19 this year.   

During September all NAT board members have increased their holdings of NAT shares.

It is a vote of confidence that board members buy shares in NAT.    

 

Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO

Nordic American Tankers Ltd.                                                           www.nat.bm  

  

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,” “will,” “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 tanker market, as a result of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.

NAT is a Bermuda based company.

 

Contacts:       

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

Bjørn Giæver, CFO                                                             
Nordic American Tankers Ltd                                             
Tel: +1 888 755 8391 or +47 91 35 00 91                                 

Herbjørn Hansson, Founder, Chairman & CEO
Nordic American Tankers Ltd
Tel: +1 866 805 9504 or +47 90 14 62 91    

FAQ

What was the recent share purchase by Dough Penick of NAT?

On September 30, 2021, Dough Penick bought 50,000 shares of Nordic American Tankers at $2.565 each.

How much of NAT stock does Dough Penick now own?

Dough Penick now holds a total of 175,000 shares of Nordic American Tankers.

What does the increase in board members' shareholdings in NAT signify?

The increase indicates strong internal confidence in the company's future performance and stability.

When was Dough Penick elected to the NAT Board?

Dough Penick was elected to the NAT Board on July 19, 2021.