NEW YORK--(BUSINESS WIRE)--GA Holdings LLC (“GAH”) today announced, as the largest shareholder in Ardmore Shipping Corporation (NYSE:ASC) (“Ardmore”), its participation in the Dividend Reinvestment Plan (the “DRIP”) recently adopted by Ardmore. Greenbriar Equity Group LLC (“Greenbriar”) is the primary shareholder of GAH.
Ardmore recently adopted a DRIP on April 2, 2015. The DRIP allows participants to obtain additional Ardmore common shares by automatically reinvesting all or any portion of the cash dividends paid on common shares held by the DRIP participant.
Regg Jones, Managing Partner at Greenbriar Equity Group, commented “We believe Ardmore has created significant value that has yet to be reflected in the stock price. By enrolling in the DRIP, GAH is better positioned to benefit from Ardmore’s strong growth prospects and favorable product tanker industry fundamentals.”
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. Ardmore 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 Ardmore 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.