Nordic American Offshore Ltd. (NYSE:NAO) Results of Annual General Meeting of Shareholders
19 December 2017 - 12:28AM
Hamilton, Bermuda, December 18, 2017
Nordic American Offshore LTD (the "Company")
(NYSE: NAO) conducted its Annual General Meeting of Shareholders
(the "Meeting") on December 12, 2017 in Hamilton, Bermuda.
The following resolutions were approved and adopted at the
Meeting:
1. Election of David M.
Workman as Class A Director to serve until the 2020 Annual General
Meeting of Shareholders. After this AGM, the Board of Directors
consist of:-
Herbjørn Hansson (Executive
Chairman)-
Marianne Lie (Executive Vice
Chair)- Jim
Kelly- Paul
J. Hopkins-
David Workman
2. Approval of the
appointment of KPMG AS as the Company's independent auditors until
the close of the next Annual General Meeting of Shareholders;
and
3. Approval of the
reduction of the Company's share premium account by approximately
$391.2 million, to zero as of December 29, 2017. This accounting
adjustment is implemented to facilitate dividend adjustment under
Bermuda law.
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," "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 PSV
market, as a result of changes in the general market conditions of
the oil and natural gas industry which influence charter hire rates
and vessel values, demand in platform supply vessels, our operating
expenses, including bunker prices, dry docking and insurance
costs, governmental rules and regulations or actions taken by
regulatory authorities as well as potential liability from pending
or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to
accidents or political events, the availability of financing and
refinancing, vessel breakdowns and instances of off-hire and other
important factors described from time to time in the reports filed
by the Company with the Securities and Exchange Commission.
Contacts:
Herbjørn Hansson, Executive Chairman Nordic American Offshore
Ltd.Tel: +1 866 805 9504 or + 47 901 46 291
Bjørn Giæver, CFONordic American Offshore Ltd.Tel:
+1 888 755 8391 or +47 91 35 00 91
Gary J. WolfeSeward & Kissel LLP, New York, USATel: +1 212
574 1223
Web-site: http://www.nao.bm/
SK 28327 0001 7761294
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/6e0a976d-aa27-4373-ba42-14cc20ca7b17
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