FRNT - Frontline 2012 Ltd. Completed Private Placement
11 January 2013 - 6:51PM
NOT FOR
DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR TO U.S. NEWS
WIRE SERVICES OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE
WOULD BE UNLAWFUL
Frontline 2012 Ltd. ("Frontline
2012" or the "Company") is pleased to announce that it has
completed a private placement of 59 million new ordinary shares of
$2.00 par value at a subscription price of $5.25, raising $310
million in gross proceeds to the Company (the "Private
Placement").
The proceeds from the Private
Placement will be used to part finance new building investments.
These investments includes four Capesize newbuilding contracts and
four VLGC newbuilding contracts already committed and leaves
capacity for significant further contracts which are currently at
an advanced negotiating stage or can be exercised through existing
option agreements.
The Private Placement was
significantly oversubscribed and the shares have been successfully
placed with high quality investors who support the long term
strategy of building Frontline 2012 into the leading global
commodity shipping company focused on modern fuel efficient
tonnage.
RS Platou Markets AS, DNB Markets,
Fearnley Fonds, Arctic Securities and SpareBank 1 Markets have
acted as joint lead managers and book-runners for the Private
Placement.
The Board of Directors
Frontline 2012 Ltd.
Hamilton, Bermuda,
January 10, 2013
For further information, please contact:
Jens Martin Jensen: Chief Executive Officer, Frontline Management
AS
+47 23 11 40 99
Inger M. Klemp: Chief Financial Officer, Frontline Management
AS
+47 23 11 40 76
***
Important Notice
The Private
Placement and this announcement and other information in connection
with the Private Placement may be restricted by law in certain
jurisdictions. Frontline 2012 assumes no responsibility in the
event there is a violation by any person of such restrictions.
Persons in whose possession this announcement or such other
information should come are required to inform themselves about and
to observe any such restrictions. This announcement is not for
distribution, directly or indirectly, in or into any jurisdiction
in which it is unlawful to make any such offer or solicitation to
such person or where prior registration or approval is required for
that purpose.
This document
is not an offer to sell, or the solicitation of an offer to buy or
subscribe for securities in the United States, Australia, Canada,
Japan or in any jurisdiction in which such offer, solicitation or
sale is unlawful. Securities may not be offered or sold in the
United States absent registration under the US Securities Act of
1933 (the "Securities Act") or an exemption from, or in a
transaction not subject to, registration. Subject to certain
exceptions, the securities referred to herein may not be offered or
sold in Australia, Canada or Japan or to, or for the account or
benefit of, any national, resident or citizen of Australia, Canada
or Japan. The offer and sale of the securities referred to herein
has not been and will not be registered under the Securities Act or
under the applicable securities laws of Australia, Canada or Japan.
The new shares to be offered may not be offered or sold within the
United States, except to qualified institutional buyers ("QIB"), as
defined in Rule 144A under the U.S. Securities Act ("Rule 144A"),
through affiliates of the Managers, in reliance upon the exemption
from the registration requirements provided by section 4(2) of the
U.S. Securities Act Rule 144A, and to certain non-U.S. persons in
offshore transactions in reliance on Regulation S under the U.S.
Securities Act. The shares to be offered will be subject to certain
restrictions on transfer.
This document is
only addressed to and is only directed at persons in member states
of the European Economic Area (the "EEA") who are "qualified
investors" within the meaning of Article 2.1(e) of the Prospectus
Directive (Directive 2003/71/EC). In addition, in the United
Kingdom, these materials are directed solely at persons who (i)
have professional experience in matters relating to investments
falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) are
persons falling within Article 49(2)(a) to (d) of the Order and
other persons to whom it may lawfully be communicated (all such
persons together being referred to as "relevant persons"). These
materials are addressed only to, and directed only at, relevant
persons and qualified investors and must not be acted on or relied
on (i) in the United Kingdom, by persons who are not relevant
persons or (ii) in any member state of the EEA other than the
United Kingdom, by qualified investors. Any investment or
investment activity to which these materials relate is available
only to, and will be engaged in only with, in the United Kingdom,
relevant persons, and in any member state of the EEA other than the
United Kingdom,
Forward
Looking Statements
This press release contains
forward looking statements. These statements are based upon various
assumptions, many of which are based, in turn, upon further
assumptions, including Frontline 2012 Ltd's management's
examination of historical operating trends. Although Frontline 2012
Ltd believes that these assumptions were reasonable when made,
because assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond its control, Frontline 2012 cannot give
assurance that it will achieve or accomplish these expectations,
beliefs or intentions.
Important factors that, in the
Company's view, could cause actual results to differ materially
from those discussed in this press release include the strength of
world economies and currencies, general market conditions including
fluctuations in charter hire rates and vessel values, changes in
demand in the tanker market as a result of changes in OPEC's
petroleum production levels and world wide oil consumption and
storage, changes in the Company's operating expenses including
bunker prices, dry-docking and insurance costs, changes in
governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation,
general domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
and other important factors described from time to time in the
reports filed by the Company.
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Frontline 2012 Ltd. via Thomson Reuters ONE
HUG#1669765
Frontier Airlines Hldgs (MM) (NASDAQ:FRNT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Frontier Airlines Hldgs (MM) (NASDAQ:FRNT)
Historical Stock Chart
From Jul 2023 to Jul 2024