|
Hamilton, Bermuda - November 30, 2015 Frontline Ltd. (NYSE/OSE: FRO) ("Frontline") has completed its previously announced merger with Frontline 2012 Ltd. (NOTC: FRNT) ("Frontline 2012"), with Frontline as the surviving legal entity and Frontline 2012 becoming a wholly-owned subsidiary of Frontline. The merger was consummated after close of trading on the Oslo Stock Exchange on November 30, 2015. Trading in the new shares of Frontline issued as merger consideration to former Frontline 2012 shareholders (the "Merger Shares") will commence on the Oslo Stock Exchange on December 1, 2015. Trading in the Merger Shares will begin before delivery of the Merger Shares to eligible Frontline 2012 shareholders' VPS accounts and therefore no account-to-account transactions and no transactions with settlement prior to December 3, 2015 will be allowed in the Merger Shares on the Oslo Stock Exchange in this period. Prior to completion of the merger, Frontline had 198,375,854 common shares outstanding with a par value of USD 1.00 each. Following completion of the merger, Frontline will have up to 781,937,956 common shares outstanding. The exact number of shares outstanding after completion of the merger will depend on rounding for fractions in connection with the issue of merger consideration shares. Frontline Ltd. press release |
