Nordic American Tankers Ltd (NYSE: NAT) – NAT Board Members buy NAT shares
Doug Penick, a board member of NAT, purchased 50,000 shares at USD 2.30 each, increasing his total holdings to 125,000 shares. Additionally, Alexander Hansson acquired 100,000 shares earlier today. Jim Kelly, another board member, holds 175,000 shares. This significant investment by board members reflects confidence in NAT's future. Penick joined the board on July 19, 2021, after a notable career at Goldman Sachs. The PR also includes a cautionary statement regarding forward-looking statements, highlighting that future performance is subject to various uncertainties.
- Board members' substantial share purchases indicate confidence in NAT.
- Doug Penick's background at Goldman Sachs may bring valuable expertise.
- Concerns about continuity due to recent management changes.
- Potential for experience gaps with new board members.
Tuesday, August 31, 2021
Dear Shareholders and Investors,
US based Board Member of NAT, Doug Penick, today bought 50,000 NAT shares at USD 2.30 per share. He holds a total of 125,000 NAT shares. Among other things, he has a background from Goldman Sachs for many years.
Doug Penick was elected to the NAT Board July 19th, 2021 at the NAT AGM.
NAT Board Member and Chairman of the Audit Committee, Jim Kelly, is holding 175,000 NAT shares. Jim has background as managing editor of Time Magazine.
Earlier today, Alexander Hansson bought 100,000 NAT shares.
It is encouraging that Members of the Board have substantial shareholdings 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 recent share purchases did NAT board members make?
When was Doug Penick elected to the NAT Board?
How many shares does Jim Kelly hold in NAT?
What does the recent share purchase by NAT board members indicate?
