ARDMORE SHIPPING CORP

Ticker: ASC CUSIP: Y0207T100 Class: Common Stock

Ativo Capital Management LLC's Holding History (CIK: 0001423065)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016

Shares 62,321 Value ($000) $527 Avg Close $7.24 Range $5.74 - $10.19

Q4 2015

Shares 47,020 Value ($000) $598 Avg Close $10.03 Range $8.94 - $11.78

Q3 2015

Shares 15,010 Value ($000) $187 Avg Close $9.69 Range $7.56 - $11.73

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	62,321	$527	$7.24	$5.74 - $10.19
Q4 2015	47,020	$598	$10.03	$8.94 - $11.78
Q3 2015	15,010	$187	$9.69	$7.56 - $11.73