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.


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Source: Team Tankers International Ltd. via Globenewswire