Re: Directed share issue NOK 735 mill.
 Press
release from Frontline Ltd. - 01.09.1997 |
Frontline Ltd has as of September 1, 1997 completed a directed issue of 21 million shares subscribed at NOK 35 per share towards a syndicate lead by Alfred Berg and Carnegie. Gross proceeds were NOK 735,000,000. Number of issued shares in Frontline Ltd is thereby increased from 108,201,507 to 129,201,507. The condition regarding the completion of this issue in connection with Frontline’s voluntary tender offer to ICB Shipping AB is thus lifted.
Best regards, Frontline Management AS Tom E. Jebsen
