SFL - Share incentive program 2009 and correction relating to the
1Q09 dividend election>
SFL - Share incentive program 2009 and correction relating to the 1Q09 dividend election
(Thomson Reuters ONE) - Press release from Ship Finance International Limited, July 13, 2009Ship Finance International Limited (NYSE:SFL) ("Ship Finance" or "theCompany") today announced that there will be an adjustment to theshare option awards to the Company's management team.A total of 505,000 new options will be awarded to employees while allof the 355,000 previously awarded options to employees will becancelled. The new options will be issued pursuant to the Company'sShare Option Scheme and will have a five-year term with a three-yearvesting period. The initial strike price will be equal to theweighted average share price for the three trading days following thedate of this announcement, and the first options will be exercisablein July 2010.The Company also refers to its press release dated July 3, 2009,regarding elections concerning the first quarter 2009 stock dividend. Due to a reporting error in the number of shareholders who electedto receive the stock dividend, this figure is higher than previouslycommunicated. Fifty-two percent (52%) of our shareholders elected toreceive shares in lieu of a cash dividend, and the correct number ofnew shares issued is approximately 1.0 million. Accordingly, the cashdividend paid was then reduced to approximately $10.7 million.July 13, 2009The Board of DirectorsShip Finance International LimitedHamilton, BermudaContact Persons:Ole B. Hjertaker: Chief Executive Officer, Ship Finance Management AS+47 23114011 / +47 90141243Magnus T. Valeberg: Vice President, Ship Finance Management AS+47 23114012 / +47 93440960About Ship FinanceShip Finance is a major ship owning company listed on the New YorkStock Exchange (NYSE: SFL). Including newbuildings, the Company has afleet of 67 vessels, including 33 crude oil tankers (VLCC andSuezmax), two chemical tankers, eight oil/bulk/ore vessels, onedry-bulk carrier, 13 container vessels, six offshore supply vessels,one jack-up drilling rigs and three ultra-deepwater drilling units.The fleet is one of the largest in the world and most of the vesselsare employed on long-term charters.More information can be found on the Company's website:www.shipfinance.orgCautionary Statement Regarding Forward Looking StatementsThis press release may contain forward looking statements. Thesestatements are based upon various assumptions, many of which arebased, in turn, upon further assumptions, including Ship Financemanagement's examination of historical operating trends. AlthoughShip Finance believes that these assumptions were reasonable whenmade, because assumptions are inherently subject to significantuncertainties and contingencies which are difficult or impossible topredict and are beyond its control, Ship Finance cannot giveassurance that it will achieve or accomplish these expectations,beliefs or intentions.Important factors that, in the Company's view, could cause actualresults to differ materially from those discussed in thispresentation include the strength of world economies and currencies,general market conditions including fluctuations in charter hirerates and vessel values, changes in demand in the tanker market as aresult of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in the Company's operatingexpenses including bunker prices, dry-docking and insurance costs,changes in governmental rules and regulations or actions taken byregulatory authorities, potential liability from pending or futurelitigation, general domestic and international political conditions,potential disruption of shipping routes due to accidents or politicalevents, and other important factors described from time to time inthe reports filed by the Company with the United States Securitiesand Exchange Commission.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 13.07.2009 - 19:31 Uhr
Sprache: Deutsch
News-ID 3514
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