Ocean Yield ASA ("Ocean Yield" or the "Company"), a ship owning company with investments in vessels on long-term charters, announced today that the Company's ordinary shares have been approved to trade on the OTCQX Best Market. Effective today, 20 June 2017, Ocean Yield's ordinary shares are available for trading in the United States on OTCQX under the symbol "OYIEF".
OTCQX International Tier of the OTCQX Best Market is designed for established, investor-focused international companies that have met high financial standards, follow best practice corporate governance, are current in their home country financial reporting and have been sponsored by a professional third-party advisor. The OTCQX market is considered by the SEC as an "established public market" for the purpose of determining the public market price of a security. Trading on OTCQX indicates that a company is committed to providing a transparent market for its investors and maintaining high financial and operating standards.
Ocean Yield ASA's Chief Executive Officer Lars Solbakken said in a comment: "We are pleased to be able to provide a mechanism that facilitates trading in Ocean Yield shares in US dollars. This will make it easier for U.S. investors to invest in our stock and improve overall trading liquidity of the shares. Ocean Yield is committed to high standards of transparency and the disclosure channels made available through an OTCQX quotation will allow more ready access to information about the Company to U.S. investors."
U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for Ocean Yield on www.otcmarkets.com.
Eirik Eide (CFO), Tel +47 24 13 01 91
Investor Relations contact:
Marius Magelie (SVP Finance & IR), Tel +47 24 13 01 82
Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity. Ocean Yield ASA has an ambition to pay attractive quarterly dividends to its shareholders.