NAT

Nordic American Tankers Ltd. Non-Executive Vice Chairman Alexander Hansson Acquires 350,000 Shares, Solidifying Family's Majority Stake

Alexander Hansson purchased 350,000 shares, increasing his family's stake to 7,805,659 shares in Nordic American Tankers.

Quiver AI Summary

On December 2, 2024, Alexander Hansson, Non-Executive Vice Chairman of Nordic American Tankers Ltd (NAT), purchased 350,000 shares at a price of $2.6471 each, bringing his total holdings to 3,550,000 shares. Following this acquisition, the Hansson family now collectively owns 7,805,659 shares, making them the largest private shareholder group in the company. The press release is accompanied by a cautionary statement regarding forward-looking statements, outlining the risks and uncertainties that may affect future performance and results. Key factors influencing these outcomes include market conditions, operating expenses, regulatory changes, and geopolitical events.

Potential Positives

  • Alexander Hansson's purchase of 350,000 shares signals strong confidence in the company's future, as he increases his personal stake significantly.
  • The Hansson family now represents the largest private shareholder group, which could indicate stability and alignment between major shareholders and management.
  • This move may reflect positively on investor sentiment and potentially attract more investment interest in the company.

Potential Negatives

  • The considerable purchase of shares by the Non-Executive Vice Chairman may raise concerns about the company's stock price stability, suggesting a lack of confidence from market investors.
  • The press release heavily relies on forward-looking statements but acknowledges significant uncertainties that could materially affect future performance, which may indicate potential risks that are not fully addressed.
  • The vague nature of the cautionary statements regarding potential risks and challenges may lead to shareholder frustration over a lack of concrete operational insights and assurance in the company's stability.

FAQ

Who is the largest shareholder group in Nordic American Tankers?

The Hansson family is the largest private shareholder group, owning 7,805,659 shares in total.

How many shares did Alexander Hansson purchase?

Alexander Hansson bought 350,000 shares at a price of $2.6471 per share.

What is the total number of shares held by Alexander Hansson?

After the recent purchase, Alexander Hansson now holds a total of 3,550,000 shares.

What does the forward-looking statement cautionary note indicate?

The note indicates that forward-looking statements involve risks and uncertainties that may affect actual results.

What factors could influence Nordic American Tankers' future performance?

Factors include market conditions, operating expenses, regulatory changes, and geopolitical events.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.


$NAT Hedge Fund Activity

We have seen 97 institutional investors add shares of $NAT stock to their portfolio, and 111 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release





Monday, December 2, 2024






Dear Shareholders and Investors,





Non-Executive Vice Chairman of NAT, Alexander Hansson, has today bought 350,000 shares at $2.6471 per share. He is now holding 3,550,000 shares.



Following this transaction the Hansson family owns an aggregate of 7,805,659 shares – being the largest private shareholder group in the company.







For contacts, please see at the end of this communication.





Sincerely,



Herbjorn Hansson


Founder, Chairman & CEO



Nordic American Tankers Ltd.

www.nat.bm








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 worldwide 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, our Annual Report on Form 20-F, and our reports on Form 6-K.






Contacts:



Bjørn Giæver, CFO


Nordic American Tankers Ltd


Tel: +1 888 755 8391



Alexander Kihle, Finance Manager


Nordic American Tankers Ltd


Tel: +47 91 724 171










This article was originally published on Quiver News, read the full story.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Data is currently not available

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.