Acquisition
 Press
release from Frontline Ltd. - 21.12.1999 |
Frontline requestes compulsory redemption in ICB Shipping AB
Frontline, the owner of more than 90 per cent of the shares representing more than 90 per cent of the votes in ICB Shipping AB (publ) (”ICB”) has today requested compulsory redemption of the remaining outstanding shares in ICB.
Frontline will call for compulsory redemption of the remaining shares in ICB at a price equal to SEK 112.58 per A-share and SEK 72.58 per B-share, which is the same price as was paid to the so called A-group in the agreement dated 23 September 1999.
Shareholders who do not wish to await the compulsory redemption can up to 21 January 2000 sell their shares at no cost to Frontline at the same price as will be called for in the compulsory redemption. Information regarding Frontline’s offer and an Acceptance Form will be mailed to ICB’s shareholders together with a notice on the compulsory redemption. The Acceptance Form is to be sent to D. Carnegie AB, Värdepappersservice, Box 16080, 103 22 Stockholm.
Frontline has asked the board of ICB to request de-listing of ICB from the OM Stockholmsbörsen as soon as possible.
Hamilton, Bermuda
December 21, 1999
Questions to be directed to:
Tom E. Jebsen, Finansdirektör i Frontline, tel +47 23 11 40 00
