Nordic American Tankers Ltd (NYSE: NAT) – Non-Executive Vice Chairman of NAT, Alexander Hansson buys more shares

Rhea-AI Summary

On May 30, 2024, Alexander Hansson, Non-Executive Vice Chairman of Nordic American Tankers (NAT) and son of founder Herbjorn Hansson, purchased 350,000 shares of NAT at $4.0029 per share, totaling approximately $1.4 million. This acquisition increases his private holdings to 3,000,000 shares, reinforcing the Hansson family's position as the largest private shareholders in the company.

This transaction highlights continued confidence in NAT's stock by its leadership. The company, listed on NYSE under the symbol NAT, may see investor interest due to this insider buying activity.

Positive

• Alexander Hansson's purchase of 350,000 shares demonstrates strong insider confidence in NAT's stock.
• The Hansson family is the largest private shareholder in NAT, indicating a stable ownership structure.
• Increased insider holdings to 3,000,000 shares suggests a long-term commitment to the company's success.

Negative

• The purchase of shares by an insider does not guarantee stock performance improvement.
• No concrete financial data was provided to support the company's current performance or future prospects.
• Potential overreliance on the Hansson family could pose a risk if their strategic decisions fail.

 

Thursday, May 30, 2024

 

Dear Shareholders and Investors,

 

Alexander Hansson, Non-Executive Vice Chairman of Nordic American Tankers Ltd (NAT) and son of Herbjorn Hansson, Founder, Chairman & CEO, has today bought 350,000 shares in NAT at $4.0029 per share for a total sum of $1,4 million.

Following these transactions, Monaco based Alexander Hansson privately owns 3,000,000 shares in NAT.

As in the past, the Hansson family is the largest private shareholder group in the company.

For contacts, please see at the end of this communication.   

 

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 is the significance of Alexander Hansson buying 350,000 shares of NAT?

Alexander Hansson's purchase of 350,000 shares signifies strong insider confidence in Nordic American Tankers, potentially boosting investor interest.

How much did Alexander Hansson spend on NAT shares?

Alexander Hansson spent approximately $1.4 million on 350,000 NAT shares at $4.0029 per share.

How many NAT shares does Alexander Hansson own after his recent purchase?

After the recent purchase, Alexander Hansson owns 3,000,000 shares of NAT.

What is the stock symbol for Nordic American Tankers?

The stock symbol for Nordic American Tankers is NAT.

What could be the impact of insider buying on NAT's stock?

Insider buying, like Alexander Hansson's recent purchase, can indicate confidence in the company's future, potentially leading to increased investor interest and stock price movement.