FRO - Cancellation of Fractional Shares
04 December 2015 - 2:22AM
In connection with the previously announced closing of the merger
between Frontline Ltd. (NYSE/OSE: FRO) (the "Company") and
Frontline 2012 Ltd. ("Frontline 2012"), the Company will today
cancel 307 common shares, which account for the fractional shares
that will not be distributed to Frontline 2012 shareholders as
merger consideration. Also, as previously disclosed, the Company
plans to distribute cash in lieu of the fractional shares to
shareholders of Frontline 2012 as of November 30, 2015, as
registered in the shareholder register of Frontline 2012 on
December 2, 2015.
Following the cancellation of shares, the
Company will have 781,937,649 common shares outstanding, each with
a par value of USD 1.00.
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. Forward-looking statements
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, but not limited to "believe," "anticipate,"
"intends," "estimate," "forecast," "project," "plan," "potential,"
"may," "should," "expect," "pending" and similar expressions
identify forward-looking statements. The forward-looking statements
in this press release are based upon various assumptions, many of
which are based, in turn, upon further assumptions. Although
Frontline believes 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 the control of Frontline,
Frontline cannot assure you that they will achieve or accomplish
these expectations, beliefs or projections. The information set
forth herein speaks only as of the date hereof, and Frontline
disclaims 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.
HUG#1971220
CONTACT: Inger Marie Klemp (CFO), +47 23 11 40 00
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