Nordic American Tanker Shipping Ltd. (NAT) - (NYSE: NAT) (OSE: NAT) to be exclusively listed on the New York Stock Exchange
13 Januar 2005 - 9:43AM
PR Newswire (US)
Nordic American Tanker Shipping Ltd. (NAT) - (NYSE: NAT) (OSE: NAT)
to be exclusively listed on the New York Stock Exchange HAMILTON,
Bermuda, Jan. 13 /PRNewswire-FirstCall/ -- The common shares of
Nordic American Tanker Shipping Ltd. (NAT) will from January 17th
be listed on the New York Stock Exchange only. The Company noted
that the delisting in Oslo is a result of small trading volume in
Oslo, and the preference of European investors to trade the shares
in New York where trading volume and liquidity are good. The
delisting in Oslo will save costs, and NAT can concentrate its
investor relations efforts in the US market. January 14th will be
the last day of the secondary listing on the Oslo Stock Exchange.
NAT owns 4 double hull suezmax tankers built in 1997, and has
communicated a growth strategy. In November 2004 NAT successfully
raised approx. $ 113 mill in a follow-on offering, and moved its
listing from the American Stock Exchange to the NYSE under the
ticker symbol NAT. 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 world wide 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 and our Annual Report
on Form 20-F. Contacts: Scandic American Shipping Ltd. Manager for
Nordic American Tanker Shipping Ltd. P.O. Box 56 3201 Sandefjord,
Norway Tel: + 47 33 42 73 00 E-mail: Web-site: http://www.nat.bm/
Rolf Amundsen Chief Financial Officer Nordic American Tanker
Shipping Ltd. Tel: +1 800 601 9079 or + 47 908 26 906 Gary Wolfe
Seward & Kissel LLP, New York, USA Tel: +1 212 574 1223
Herbjorn Hansson Chairman & CEO Nordic American Tanker Shipping
Ltd. Tel: +1 866 805 9504 or +47 901 46 291 DATASOURCE: Nordic
American Tanker Shipping Ltd. CONTACT: Rolf Amundsen, Chief
Financial Officer of Nordic American Tanker Shipping Ltd.,
+1-800-601-9079 or +47-908-26-906; or Gary Wolfe of Seward &
Kissel LLP, New York, USA, +1-212-574-1223; or Herbjorn Hansson,
Chairman & CEO of Nordic American Tanker Shipping Ltd.,
+1-866-805-9504 or +47-901-46-291 Web site: http://www.nat.com/
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