Nordic American Tankers Ltd (NYSE: NAT) – Announces Results of its 2023 Annual General Meeting of Shareholders

Rhea-AI Summary

Nordic American Tankers Limited (NYSE:NAT) - Record Turnout at Annual General Meeting Signals Positive Market Prospects. Herbjorn Hansson, Founder, Chairman & CEO, reports a successful Meeting in Monaco, with all resolutions approved. Key points include the election of new Directors and the appointment of KPMG as independent auditors. The company expresses confidence in the market's strength and positive outlook.

Positive

• Record turnout at the Annual General Meeting signals strong investor engagement and confidence in the company's direction.
• All resolutions being approved and adopted indicates a unified and supportive shareholder base.
• Appointment of KPMG as independent auditors demonstrates commitment to transparency and financial integrity.

Negative

• None.

 

Thursday, November 16, 2023

 

Dear Shareholders and Investors,

 

Nordic American Tankers Limited (NYSE:NAT) conducted its Annual General Meeting of Shareholders (the "Meeting") today, on November 16, 2023 in Monaco.

 

We experienced a record turnout this year and all resolutions were approved and adopted at the Meeting:

• Election of Herbjorn Hansson, Jim Kelly, Alexander Hansson and Jenny Chu to serve as Directors of the Board.
• Approval of the appointment of KPMG as the Company's independent auditors.

 

We are in a strong market and prospects are looking very good.

 

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.

 

Contacts:       

Bjørn Giæver, CFO                                                             
Nordic American Tankers Ltd                                             
Tel: +1 888 755 8391                                  

Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171    

 

FAQ

What happened at Nordic American Tankers Limited Annual General Meeting 2023?

The Meeting experienced a record turnout, with the election of new Directors and the appointment of KPMG as independent auditors being approved.

Who were elected as Directors of the Board at the Meeting?

Herbjorn Hansson, Jim Kelly, Alexander Hansson, and Jenny Chu were elected as Directors of the Board.

Why is the market outlook positive for Nordic American Tankers Limited?

The company expresses confidence in the market's strength and positive prospects, indicating a favorable industry environment.