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Nordic American Tanker Ltd Completes Acquisition Of Scandic American Shipping Ltd

Friday, 11 Jan 2013 05:46am EST 

Nordic American Tanker Ltd announced that it had acquired 100% of the shares of Scandic American Shipping Ltd., management company since 2004. This transaction has been completed. The Company acquired Scandic from a company controlled by Herbjorn Hansson, NAT's Chairman and CEO, and his closest family. As part of the consideration payable to the seller, the Company issued an aggregate of 1,910,112 common shares of the Company, which are subject to a one-year lock up agreement. Following this transaction, Mr. Hansson and members of his family own about 5.6% or 3.1 million shares of the Company's outstanding shares. 

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0.1 +1.16%
11 Jul 2014