Team Tankers International Ltd. : Distribution of shares to the Executive Chairman
July 17 2017 - 2:42PM
July 17, 2017
Team Tankers International Ltd.:
Distribution of shares to the Executive Chairman
As previously announced on 1
September 2015, Mr. Morten Arntzen, Executive Chairman 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. Arntzen has today
received 176,702 shares (net after estimated tax) (the "Vested
Shares"). Mr. Arntzen has not paid any cash consideration for
the Vested Shares. Following the distribution of the Vested Shares,
Mr. Arntzen is the owner of 353,404 shares and he has a right to
acquire a further 589,007 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
3,302,622 shares. The Company has issued to date a
total of 188,482,074 shares of which 1,376,003 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