Ardmore Shipping Corporation (NYSE:ASC) (“Ardmore” or the “Company”)
today announced that its Board of Directors has declared a cash dividend
of $0.10 per share for the quarter ending June 30, 2015. The cash
dividend is payable on August 14, 2015 to all shareholders of record on
July 31, 2015.
In April 2015, Ardmore adopted a Dividend Reinvestment Plan (“DRIP”),
which enables participants to obtain additional common shares of the
Company by automatically reinvesting all or any portion of the cash
dividends paid on common shares held by the DRIP participant. Any
beneficial holders of Ardmore’s common shares who are interested in
participating in the DRIP are advised to contact their bank or brokerage
firm representative for the appropriate enrollment procedures and
respective deadlines for DRIP participation before the record date of
July 31, 2015.
The DRIP is administered through the Company’s transfer agent,
Computershare Trust Company, N.A. (“Computershare”). Shareholders and
other persons may obtain a copy of the DRIP prospectus and enrollment
forms by contacting Computershare at (877) 373-6374, or visiting
Computershare’s website at www.computershare.com/investor.
About Ardmore Shipping Corporation
Ardmore owns and operates a fleet of mid-size product and chemical
tankers ranging from 17,500 to 50,300 deadweight tonnes. The Company
provides seaborne transportation of petroleum products and chemicals
worldwide to oil majors, national oil companies, oil and chemical
traders, and chemical companies, with its modern, fuel-efficient fleet
of tankers.
Ardmore’s core strategy is to develop a modern, high-quality fleet of
product and chemical tankers, build key long-term commercial
relationships, maintain its cost advantage in assets, operations and
overhead, while creating significant synergies and economies of scale as
the Company grows. Ardmore provides its services to customers through
voyage charters, commercial pools and time charters and enjoys close
working relationships with key commercial and technical management
partners. Ardmore views the continued development of these relationships
as crucial to its long-term success.
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,”
“intends,” “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.
In addition to these important factors, other important factors that, in
our view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the failure of
counterparties to fully perform their contracts with us, the strength of
world economies and currencies, general market conditions, including
fluctuations in charter rates and vessel values, changes in demand for
tanker vessel capacity, changes in our operating expenses, including
bunker prices, drydocking and insurance costs, the market for our
vessels, competition in the tanker industry, availability of financing
and refinancing, charter counterparty performance, ability to obtain
financing and comply with covenants in such financing arrangements,
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, piracy or
political events, vessels breakdowns and instances of off-hires and
other factors. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks and
uncertainties.
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