DHT Holdings, Inc.: Frontline Lawsuit is Dismissed
June 19 2017 - 4:00AM
HAMILTON, BERMUDA, June 19, 2017 - DHT Holdings, Inc. (NYSE:DHT)
("DHT") today announced that the legal action filed by Frontline
Ltd. in the High Court of the Republic of the Marshall Islands,
which challenged DHT's transaction with BW Group and DHT's Rights
Plan, has been dismissed, with prejudice. Frontline is now
precluded from bringing similar claims against DHT, its directors
and BW Group in any other court. Under Marshall Islands' law, the
dismissal also constitutes a ruling on the merits in favor of
DHT.
"We are very pleased with the dismissal," said Erik Lind,
Chairman of DHT's Board of Directors. "We have consistently
stated, both in court and to our shareholders, that Frontline's
claims are without merit. Two courts have now agreed with us,
and we welcome the dismissal as an appropriate end to the
matter."
Cravath, Swaine & Moore LLP is serving as legal counsel to
DHT.
About DHT Holdings, Inc.DHT is an independent crude oil
tanker company operating a fleet of crude oil tankers in the VLCC
and Aframax segments. We operate through our wholly owned
management companies in Oslo, Norway and Singapore. For
further information: www.dhtankers.com.
Forward Looking StatementsThis press release may contain
assumptions, expectations, projections, intentions and beliefs
about future events. When used in this document, words such
as "believe," "intend," "anticipate," "estimate," "project,"
"forecast," "plan," "potential," "will," "may," "should" and
"expect" and similar expressions are intended to identify
forward-looking statements but are not the exclusive means of
identifying such statements. These statements reflect DHT's
current views with respect to future events and are based on
assumptions and subject to risks and uncertainties. Given
these uncertainties, you should not place undue reliance on these
forward-looking statements. These forward-looking statements
represent DHT's estimates and assumptions only as of the date of
this press release and are not intended to give any assurance as to
future results. Investing in DHT's securities involves risk,
and investors should be able to bear the loss of their
investment. For a detailed discussion of the risk factors
that might cause future results to differ, please refer to DHT's
Annual Report on Form 20-F, filed with the SEC on March 23,
2017.
DHT undertakes no obligation to publicly update or revise any
forward-looking statements contained in this press release, whether
as a result of new information, future events or otherwise, except
as required by law. In light of these risks, uncertainties
and assumptions, the forward-looking events discussed in this press
release might not occur, and DHT's actual results could differ
materially from those anticipated in these forward-looking
statements.
Media ContactsSvein Moxnes Harfjeld, Co-CEO: +47
23115080Trygve P. Munthe, Co-CEO: +47 23115080
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