SSI Buy-back of shares
On 9th December 2014 Siem Shipping Inc. announced that its Board of Directors had resolved to initiate an ad-hoc share buy-back program to purchase shares in the Company at a maximum price of NOK 60 per share for a maximum aggregate amount of USD5 million with acceptances to be in inverse order of size of shareholdings tendered in the offer. Subsequently, on 7th January , the Board announced an extension of the buy-back program until 1730 Hrs on 30th January 2015.
The Board can now announce that 527,674 shares have been accepted in the buy-back programme for an aggregate consideration of NOK 31.7 million (USD 4.1 million). It is planned that the settlement for the shares acquired by the Company in the buy-back programme will take place later this week. Following the acquisition, the Company will own 527,674 shares of Siem Shipping Inc., or 5.5% of its 9,647,479 issued shares.

Board of Directors

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