FRO - issue of new shares
June 08 2015 - 2:40AM
Reference is made to the announcement on May 29,
2015, that Frontline Ltd. (NYSE/OSE: FRO) (the "Company"
or "Frontline") had entered into a heads of agreement to
amend the terms of the long term charter agreements with Ship
Finance International Limited ("Ship Finance").
The new agreement has now been completed, and 55
million new Frontline shares have after close of trading on June 5,
2015, been issued to Ship Finance. Following such issuance,
Frontline has an issued share capital of USD 198,375,854 divided
into 198,375,854 ordinary shares par value USD 1 each.
Frontline has agreed to register the new shares
for resale with the US Securities and Exchange Commission. The new
shares will be eligible for listing and trading on the Oslo Stock
Exchange upon approval of a listing prospectus by the Norwegian
Financial Supervisory Authority (expected during July 2015).
June 5, 2015
Frontline Ltd.
Hamilton, Bermuda
Questions should be directed to:
Robert Hvide Macleod: Chief Executive Officer,
Frontline Management AS
+47 23 11 40 00
Inger M. Klemp: Chief Financial Officer,
Frontline Management AS
+47 23 11 40 00
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Frontline Ltd. via Globenewswire
HUG#1926836
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