Nordic American Tankers Ltd (NYSE: NAT) – Board Members buy Shares in NAT

Rhea-AI Summary

Nordic American Tankers Ltd (NAT) reported significant increases in share ownership among its Board members. Alexander Hansson acquired 150,000 shares, raising his total to 1,135,000 shares. Jim Kelly holds 210,000 shares, while Doug Penick, who joined the Board on July 19, 2021, owns 175,000 shares. The Hansson family remains the largest private shareholder with nearly 5 million shares. This active share purchasing reflects strong confidence from the Board in the company's future prospects.

Positive

• Board members have increased their shareholdings, indicating confidence in NAT's future.
• Alexander Hansson's purchase of 150,000 shares adds to his significant stake.

Negative

• None.

Friday, December 10, 2021

Dear Shareholders and Investors, 

 

We are pleased to report to you that Board Members have recently increased the number of NAT shares they own.

Board member Alexander Hansson has since November 26 bought 150,000 shares. His private holding is 1,135,000 shares.

Board member Jim Kelly has 210,000 shares in NAT. Board member Doug Penick joined the Board July 19, 2021. He has 175,000 shares.

The Hansson family is the largest private shareholder, holding marginally below 5 million shares.

I applaud the strong support by the NAT Board.

 

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 

FAQ

What recent share purchases were made by NAT Board members?

Alexander Hansson purchased 150,000 shares, increasing his total to 1,135,000 shares. Jim Kelly owns 210,000 shares, and Doug Penick has 175,000 shares.

How many shares does the Hansson family hold in Nordic American Tankers?

The Hansson family holds approximately 5 million shares, making them the largest private shareholders in NAT.

What does the increase in Board member shareholdings indicate for NAT?

The increase in shareholdings suggests strong confidence from the Board in the company's future performance and potential growth.

When did Doug Penick join the NAT Board?

Doug Penick joined the Nordic American Tankers Board on July 19, 2021.

What is the significance of Board members buying more shares in NAT?

Increased share ownership by Board members can signal confidence in the company's strategy and financial health, potentially attracting more investor interest.