Nordic American Offshore Ltd. (NYSE:NAO) Announcement of move to Bermuda

HAMILTON, Bermuda, Sept. 26, 2016 (GLOBE NEWSWIRE) -- Nordic American Offshore Ltd. (“NAO” or the “Company”) today announced it will move its corporate domicile from the Republic of the Marshall Islands to Bermuda. Effective September 27, 2016, the Company’s common shares will commence trading under new CUSIP number G65772108 (a company identification number).

All shares of the Company will automatically convert by operation of law into shares of the same class of the redomicilied NAO on a one-for-one basis. A registration statement on Form F-4 (File No. 333-211868) relating to the common shares of NAO has been declared effective by the Securities and Exchange Commission. This press release is neither an offer to purchase nor a solicitation of an offer to sell or exchange securities. No offer, solicitation, purchase, sale or exchange will be made in any jurisdiction in which such offer, solicitation, sale or exchange would be unlawful.

The change of corporate domicile will not affect the day-to-day business of the Company and NAO will continue to be listed on the New York Stock Exchange (NYSE). The matter mentioned in this press release is of an administrative nature only and does not necessitate any action by shareholders.

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.

Contact Information

Jan H. A. Moller,
Head of Investor Relations & Finance Manager
Nordic American Offshore Ltd.
Tel: + 47 33 42 73 06 or + +47 90 11 53 75

Herbjørn Hansson, Chairman
Nordic American Offshore Ltd.
Tel: +1 866 805 9504 or + 47 90 14 62 91

Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223

Press release PDF:

Source:Nordic American Offshore Ltd