As previously announced on 1 September 2015, Mr. Hans Feringa, President and CEO of Team Tankers International Ltd. (the "Company"), has on certain conditions been granted equity awards in the Company as a part of his long term incentive program.

Mr.  Feringa has today received 282,723 shares (net post tax) (the "Vested Shares").  Mr. Feringa has not paid any cash consideration for the Vested Shares. Following the distribution of the Vested Shares, Mr. Feringa is the owner of 753,928 shares and has a right to acquire a further 1,413,616 shares under the equity award as announced on 1 September 2015.

After this transaction, the Company has outstanding equity awards in respect of a total of 4,003,409 shares. The Company has issued to date a total of 188,482,074 shares of which 387,148 shares are held by the Company as treasury shares.

The Board of Directors


Team Tankers International Ltd.

Hamilton, Bermuda


Questions should be directed to:


Hans Feringa: President and CEO

T: +1 203 221 3420

 

Kevin Kilcullen: CFO

T: +1 203 221 3433

 
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


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Source: Team Tankers International Ltd. via Globenewswire