Teekay Tankers Announces Approval of Authorized Share Capital Increase at Adjourned Annual General Meeting
June 18 2018 - 7:56AM
Teekay Tankers Ltd. (Teekay Tankers or the Company)
(NYSE:TNK) announced today that at its adjourned 2018 Annual
General Meeting held on June 15, 2018, shareholders approved the
proposal to amend the Company’s articles of incorporation to
increase the number of authorized shares of Teekay Tankers’ Class A
common stock from 285,000,000 to 485,000,000, with a corresponding
increase in the number of authorized shares of capital stock from
485,000,000 to 685,000,000. This action was in addition to
the election of the seven nominated directors at the original
meeting held on June 13, 2018.
About Teekay Tankers
Teekay Tankers currently owns a fleet of 52
double-hull tankers, including 26 Suezmax tankers, 17 Aframax
tankers, and nine Long Range 2 (LR2) product tankers, and has four
Suezmax tankers related to capital leases and three contracted time
charter-in vessels. Teekay Tankers’ vessels are employed through a
mix of short- or medium-term fixed rate time charter contracts and
spot tanker market trading. The Company also owns a Very Large
Crude Carrier (VLCC) through a 50 percent-owned joint venture. In
addition, Teekay Tankers owns a ship-to-ship transfer business.
Teekay Tankers was formed in December 2007 by Teekay Corporation as
part of its strategy to expand its conventional oil tanker
business.
Teekay Tankers’ common stock trades on the New
York Stock Exchange under the symbol “TNK.”
For Investor Relations enquiries
contact:
Ryan HamiltonTel: +1 (604) 609-2963Website:
www.teekay.com
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