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Nordic American Tankers Limited Message Board

  • mlpnewby59 mlpnewby59 Mar 5, 2006 11:02 AM Flag

    Insiders buying Secondary

    This is from the preliminary prospectus:

    Under the Management Agreement, the Manager, Scandic American Shipping Ltd., provides management, administrative and advisory services to us. The Manager is owned by Herbj�rn Hansson, our Chairman, and Andreas Ove Ugland, one of our directors, and may engage in business activities other than with respect to the Company. At our request, the Manager will be offered, in the offering 100,000 common shares at the same price as is offered to other investors. The Manager has advised us that it intends to purchase 100,000 common shares at that price.

    Good News Indeed!

15.18-0.05(-0.33%)1:35 PMEDT