Bli medlem
Bli medlem

Du är här


Frontline Ltd.: FRO - Results from Special General Meeting

Hamilton, Bermuda, January 29, 2016

Frontline Ltd. (the "Company"), advises that the Special General Meeting of
the shareholders of the Company was held on January 29, 2016 and the
shareholders approved a Capital Reorganisation including a 1-for-5 reverse
stock split of the Company's ordinary shares.

The Capital Reorganisation will take effect, and the Company's ordinary shares
will begin trading on a split-adjusted basis on the New York Stock Exchange
("NYSE") as of the opening of trading on Wednesday, February 3, 2016 and the
Oslo Stock Exchange ("OSE") on February 4, 2016, under the existing trading
symbol "FRO." Conversion of the Company's shares between the NYSE and OSE
will be restricted from February 1, 2016 to February 4, 2016. The new CUSIP
number and ISIN number for the ordinary shares following the reverse stock
split are G3682E192 and BMG3682E1921, respectively.

When the reverse stock split becomes effective, every five shares of the
Company's issued and outstanding ordinary shares will be automatically
combined into one issued and outstanding ordinary share. This will reduce the
number of outstanding ordinary shares from approximately 781.9 million shares
to approximately 156.3 million shares.

No fractional shares will be issued in connection with the reverse split of
the issued and outstanding ordinary shares. Shareholders who would otherwise
hold a fractional share of the Company's ordinary shares will receive a cash
payment in lieu thereof at a price equal to that fraction to which the
shareholder would otherwise be entitled multiplied by the closing price of
the Company's ordinary shares on the NYSE on December 29, 2015.

Shareholders with shares held in book-entry form or through a bank, broker, or
other nominee are not required to take any action and will see the impact of
the reverse stock split reflected in their accounts on or after February 3,
2016. Such beneficial holders may contact their bank, broker, or nominee for
more information.

Shareholders with shares held in certificate form will receive instructions
from the Company's exchange agent, Computershare, for exchanging their stock
certificates for a new certificate representing the ordinary shares resulting
from the reverse split.

Additional information about the reverse stock split can be found in the
Company's proxy statement furnished to the Securities and Exchange Commission
on January 11, 2016, a copy of which is available on the Commission's website

Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements, which include
statements concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements, which are other
than statements of historical facts. Words such as "believe," "anticipate,"
"intends," "estimate," "forecast," "project," "plan," "potential," "may,"
"expect," "pending" and similar expressions identify forward-looking
statements. The forward-looking statements in this press release are based
upon various assumptions. Although we believe that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we will
achieve or accomplish these expectations, beliefs or projections. The
information set forth herein speaks only as of the date hereof, and we
disclaim any intention or obligation to update any forward-looking statements
as a result of developments occurring after the date of this communication.

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


Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.