Scorpio Tankers Inc. Announces Purchase of Common Shares by Scorpio Services Holding Limited
September 02 2020 - 5:03PM
Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the
“Company”) announced that Scorpio Services Holdings Limited
(“SSH”), a related party, has purchased 103,896 common shares of
the Company in the open market at an average price of $11.10 per
share.
About Scorpio Tankers Inc.
Scorpio Tankers is a provider of marine
transportation of petroleum products worldwide. The Company’s fleet
consists of 134 owned, finance leased or bareboat chartered-in
product tankers (42 LR2 tankers, 12 LR1 tankers, 62 MR tankers and
18 Handymax tankers) with an average age of 4.8 years. The Company
also has a leasehold interest in an MR product tanker that is
currently under construction. Additional information about the
Company is available at the Company’s
website www.scorpiotankers.com, which is not a part of this
press release.
Forward-Looking Statements
Matters discussed in this press release may
constitute forward‐looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward‐looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words "believe," "expect," "anticipate," "estimate," "intend,"
"plan," "target," "project," "likely," "may," "will," "would,"
"could" and similar expressions identify forward‐looking
statements.
The forward‐looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, management’s examination of historical operating
trends, data contained in the Company’s records and other data
available from third parties. Although management believes that
these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond the Company’s control, there can be no assurance that the
Company will achieve or accomplish these expectations, beliefs or
projections. The Company undertakes no obligation, and specifically
declines any obligation, except as required by law, to publicly
update or revise any forward‐looking statements, whether as a
result of new information, future events or otherwise.
In addition to these important factors, other
important factors that, in the Company’s view, could cause actual
results to differ materially from those discussed in the
forward‐looking statements include unforeseen liabilities, future
capital expenditures, revenues, expenses, earnings, synergies,
economic performance, indebtedness, financial condition, losses,
future prospects, business and management strategies for the
management, length and severity of the ongoing novel coronavirus
(COVID-19) outbreak, including its effect on demand for petroleum
products and the transportation thereof, expansion and growth of
the Company’s operations, risks relating to the integration of
assets or operations of entities that it has or may in the future
acquire and the possibility that the anticipated synergies and
other benefits of such acquisitions may not be realized within
expected timeframes or at all, the failure of counterparties to
fully perform their contracts with the Company, the strength of
world economies and currencies, general market conditions,
including fluctuations in charter rates and vessel values, changes
in demand for tanker vessel capacity, changes in the Company’s
operating expenses, including bunker prices, drydocking and
insurance costs, the market for the Company’s vessels, availability
of financing and refinancing, charter counterparty performance,
ability to obtain financing and comply with covenants in such
financing arrangements, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential
liability from pending or future litigation, general domestic and
international political conditions, potential disruption of
shipping routes due to accidents or political events, vessels
breakdowns and instances of off‐hires, and other factors. Please
see the Company's filings with the SEC for a more complete
discussion of certain of these and other risks and
uncertainties.
Contact Information
Scorpio Tankers Inc. (212) 542-1616
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