Team Tankers International Ltd.: Distribution of shares to the President and CEO
September 01 2016 - 9:08AM
As previously announced on 1
September 2015, Mr. Hans Feringa, President and CEO of Team Tankers
International Ltd. (the "Company"), has on certain conditions been
granted equity awards in the Company as a part of his long term
incentive program.
Mr. Feringa has today
received 282,723 shares (net post tax) (the "Vested
Shares"). Mr. Feringa has not paid any cash consideration for
the Vested Shares. Following the distribution of the Vested Shares,
Mr. Feringa is the owner of 753,928 shares and has a right to
acquire a further 1,413,616 shares under the equity award as
announced on 1 September 2015.
After this transaction, the
Company has outstanding equity awards in respect of a total of
4,003,409 shares. The Company has issued to date a
total of 188,482,074 shares of which 387,148 shares are
held by the Company as treasury shares.
The Board of Directors
Team Tankers International Ltd.
Hamilton, Bermuda
Questions should be directed to:
Hans Feringa: President and CEO
T: +1 203 221 3420
Kevin Kilcullen: CFO
T: +1 203 221 3433
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 Corporate Solutions on behalf
of Nasdaq 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: Team Tankers International Ltd. via
Globenewswire