Distribution of dividend

  • November 5, 2015

On 4 November 2015, the Board of Directors of Aker Philadelphia Shipyard ASA (Oslo: AKPS) resolved to pay a dividend to the shareholders of AKPS as of expiry of 10 November 2015, of USD 0.25 per share, in aggregate USD 3,026,975.25.

The dividend is classified for accounting purposes as a repayment of previous paid in share premium. The resolution was made pursuant to an authorization granted by the Annual General Meeting of AKPS on 15 April 2015.

The shares in AKPS will be traded ex-dividend from and including 11 November 2015. The dividend will be paid on or about 20 November 2015 to the bank account registered on the relevant shareholder's securities depository (VPS) account.

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Aker Philadelphia Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market.  It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships. Aker Philadelphia Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Converto Capital Fund, which in turn is majority-owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope:  oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Det norske oljeselskap, Aker BioMarine, Ocean Yield, Havfisk and Akastor.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.