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United States

American Shipping Company ASA (AMSCA.OL)

AMSCA.OL on Oslo Stock Exchange

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Summary

Name Age Since Current Position

Annette Malm Justad

59 2010 Chairman of the Board

Pal Magnussen

2015 President, Chief Executive Officer

Morten Bakke

2016 Chief Financial Officer

Leigh Jaros

2014 Controller

Peter Knudsen

59 2012 Director

Audun Stensvold

2016 Director

Biographies

Name Description

Annette Malm Justad

Ms. Annette Malm Justad has served as Chairman of the Board of Directors at American Shipping Company ASA since April 1, 2010, and she has been Member of the Company's Board of Directors since December 2007. From 2006 through 2010, she held the position of CEO of Eitzen Maritime Services ASA, a Norwegian marine shipping services Company. Prior to that, she has held various positions in companies such as Yara International ASA, Norgas Carriers/IM Skaugen ASA, and Norsk Hydro ASA. Ms. Justad is chairman of the board of Store Norske Spitsbergen Kulkompani AS and SeaBird Exploration Plc, a member of the Board of Port of London Authority, Odfjell, and Awilco LNG ASA. Ms. Justad holds a Master degree of Technology Management from NTH/MIT (Sloan School)/NHH in addition to a Master of Science in Chemical Engineering from NTH.

Pal Magnussen

Mr. Pal Lothe Magnussen has been appointed President and Chief Executive Officer of American Shipping Company ASA, effective as of January 1, 2015. He no longer serves as Chief Financial Officer of the Company, effective as of January 1, 2015. He has held this position since June 1, 2014. He comes from the position as Director of the Investment Banking Division in DNB Markets where he has worked since 2007. Prior to that, he worked for five years as Vice President of Corporate Banking in DNB Bank in New York, Singapore and Oslo. He also has experience as project manager in the Norwegian Trade Council and Fornybar Energi ASA. Mr. Magnussen holds MBA in Corporate Finance from Columbia University, New York, and a Master of Science in International Business from the Norwegian School of Management, Oslo.

Morten Bakke

Mr. Morten Bakke has been appointed Chief Financial Officer of American Shipping Company ASA effective as of April 4, 2016. He has 13 years of corporate finance, shipping and offshore experience of which 10 years with DVB Corporate Finance. He was previously at Chartered Accountants Moore Stephens and Credit Suisse, both in London. Morten has advised multiple offshore, shipping and private equity firms on a variety of M&A deals. He holds a Master of Science degree in Shipping, Trade and Finance from Cass Business School and Bachelor of Arts in Business Studies from University of Greenwich.

Leigh Jaros

Ms. Leigh Jaros has served as Controller of American Shipping Company ASA since July 2008. She no longer serves as Chief Financial Officer at the Company, effective as of June 1, 2014. She has held this position since July 1, 2011. She has over ten years of progressively responsible corporate financial experience including financial reporting, analysis and budgeting. Prior to joining the Company, she was employed by Aker Philadelphia Shipyard as its Accounting Supervisor. She holds a Bachelor of Science in Finance and Economics from West Chester University.

Peter Knudsen

Mr. Peter Ditlef Knudsen has been Member of the Board of Directors of American Shipping Company ASA since March 7, 2012. Peter D. Knudsen is the Managing Partner of NorthCape Capital AS. Mr. Knudsen previously worked as CEO of Oslo listed Camillo Eitzen & Co. ASA from November 2008 to February 2012. Prior to Camillo Eitzen & Co. ASA, Mr. Knudsen was employed by Nordea Bank (Shipping Offshore and Oil Services) for 15 years, and his last position was as a General Manager of Nordea Bank in Singapore. Mr. Knudsen has also been employed with GIEK, Den norske Creditbank, Jotun Fonds and Stemoco Shipping. Mr. Knudsen holds an MBA from Arizona State University. Mr. Knudsen is presently the Chairman of the Board of Rem Offshore ASA and Board member of Uglands Rederi AS.

Audun Stensvold

Mr. Audun Stensvold has been Director of American Shipping Company ASA since April 27, 2016. Audun Stensvold is currently Investment Director of Aker ASA. Prior to his appointment as an investment director, he was CFO and Investment Director for Converto, which manages the Aker-owned Converto Capital Fund. He has also served as Vice President of Aker’s M&A and Business Development team. Before joining Aker, Mr. Stensvold worked as a strategy and finance consultant for Selmer, and as a financial analyst for DnB NOR. Mr. Stensvold holds a Masters degree in Business and Economics from the Norwegian School of Economics (NHH).

Basic Compensation

Name Fiscal Year Total

Annette Malm Justad

66,764

Pal Magnussen

502,391

Morten Bakke

--

Leigh Jaros

179,306

Peter Knudsen

54,169

Audun Stensvold

--
As Of  30 Dec 2015

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