FRO - Grant of share options to members of the Board of Directors and management
(Thomson Reuters ONE) -
Frontline Ltd. ("Frontline" or the "Company") hereby announces that 1,170,000
share options have been awarded to employees and board members in accordance
with the terms of the Company's Share Option Scheme. The share options will have
a five-year term and will vest equally one third over a three-year vesting
period. The exercise price is USD 8.00. The exercise price will be adjusted for
any distribution of dividends made before the relevant options are exercised.
The following primary insiders have been allocated options according to the
above and they have the following number of shares and options in the Company:
Primary insider New share options Total share options Shareholding
Robert Hvide Macleod (CEO) 798,000 798,000 220,000
Inger Marie Klemp (CFO) 120,000 120,000 180,000
John Fredriksen (Chairman) 198,000 198,000 0*)
Kate Alexandra Blankenship 21,000 21,000 2,343
(director)
Ola Lorentzon (director) 21,000 21,000 3,000
Georgina Souza (director) 12,000 12,000 0
*) Hemen Holding Limited is a Cyprus holding company, which is indirectly
controlled by trusts established by Mr. Fredriksen, for the benefit of his
immediate family. Mr. Fredriksen disclaims beneficial ownership of the
80,803,422 ordinary shares held by Hemen, except to the extent of his voting and
dispositive interest in such shares of common stock. Mr. Fredriksen has no
pecuniary interest in the shares held by Hemen.
July 5, 2016
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 Ltd. via GlobeNewswire
[HUG#2026207]
Unternehmensinformation / Kurzprofil:
Datum: 06.07.2016 - 08:15 Uhr
Sprache: Deutsch
News-ID 481725
Anzahl Zeichen: 2684
contact information:
Town:
Hamilton
Kategorie:
Business News
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