American Shipping Company ASA (OB:AMSC) commences share repurchases on December 13, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2023. As per the mandate, the company is authorized to repurchase its own shares. The shares will be repurchased at price falling in the price range from NOK 1 per share to NOK 300 per share. The share repurchases will be used in connection with the incentive scheme for employees. The authorization is valid up to the Annual General Meeting in 2024 but no longer than June 30, 2024.

On December 12, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 150,000 shares.