Ardmore Shipping Corporation Announces Decision Not to Pursue Public Offering of Senior Notes

Hamilton, Bermuda - Bermuda, Nov. 19, 2018

Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") today announced that it has decided not to pursue the previously announced public offering of senior unsecured notes at this time due to capital market conditions.

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein.


Ardmore Shipping Corporation Announces Proposed Public Offering of Senior Notes

Hamilton, Bermuda - Bermuda, Nov. 19, 2018

Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") today announced that, subject to market conditions, it plans to offer senior unsecured notes due 2023 (the "Notes") in an underwritten public offering pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. In connection with the proposed offering, Ardmore intends to grant the underwriters a 30-day option to purchase additional Notes, solely to cover over-allotments.

Ardmore intends to use the net proceeds of the offering for general corporate purposes, which may include funding future vessel acquisitions. Following the offering, Ardmore intends to file an application to list the Notes on The New York Stock Exchange.

Morgan Stanley and Stifel will act as joint book-running managers for the public offering. B. Riley FBR, BB&T Capital Markets, Janney Montgomery Scott and Ladenburg Thalmann will act as co-managers for the offering.

When available, copies of the prospectus supplement and accompanying base prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department and Stifel, Nicolaus & Company, Incorporated, at One South Street, 15th Floor, Baltimore, MD 21202, Attn: Syndicate Department, telephone: 1- 855-300-7136, e-mail: syndprospectus@stifel.com.

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus supplement and accompanying base prospectus.

About Ardmore Shipping Corporation
Ardmore owns and operates a fleet of MR product and chemical tankers ranging from 25,000 to 50,000 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 mid-size product and chemical tankers. Ardmore's current fleet consists of 28 vessels, all of which are in operation.

Ardmore's core strategy is to continue to develop a modern, high-quality fleet of product and chemical tankers, build key long-term commercial relationships and maintain its cost advantage in assets, operations and overhead, while creating synergies and economies of scale as the Company 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 Shipping Corporation press release