Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Monday, 17 July 2017

Team Tankers International Ltd. : Distribution of shares to the Executive Chairman

Team Tankers International Ltd.    

Published: 20:42 CEST 17-07-2017 /GlobeNewswire /Source: Team Tankers International Ltd. / : TEAM /ISIN: BMG870871057

Team Tankers International Ltd. : Distribution of shares to the Executive Chairman

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.

This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Team Tankers International Ltd., P.O.Box 1794 Vika, Oslo 0122, Norway
If you would like to unsubscribe and stop receiving these e-mails click here.