FRO - Cancellation of Fractional Shares
03 Dezembro 2015 - 1:11PM
HAMILTON, BERMUDA - December 3, 2015
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.
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#1971220
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