Frontline Ltd.

International Seaways Responds to Seatankers Group

Retrieved on:

Tuesday, May 30, 2023

To that end, we want to address the misleading statements made by Seatankers in its public letter today regarding the Company’s performance, governance and history of engagement with Seatankers.

Key Points:

To that end, we want to address the misleading statements made by Seatankers in its public letter today regarding the Company’s performance, governance and history of engagement with Seatankers.
We have engaged extensively with Seatankers over the last year to reach a constructive resolution.
Seatankers, however, refused to enter into any settlement that meaningfully restricted their ability to pursue proxy fights and hostile activity while on the Board.
Over the course of our engagement with Seatankers, we have monitored the disruptive and value-destructive actions by Seatankers’ founder, John Fredriksen, in connection with the failed Frontline-Euronav transaction.

FRO – Emergency Arbitration claims initiated by Euronav fully dismissed

Retrieved on:

Tuesday, February 7, 2023

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Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., announces that the Emergency Arbitration claims filed by Euronav have been fully dismissed by the Emergency Arbitrator.

Key Points:

Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., announces that the Emergency Arbitration claims filed by Euronav have been fully dismissed by the Emergency Arbitrator.
The decision was issued today, and in addition to fully dismissing the claims, orders Euronav to pay to Frontline all costs of the Emergency Arbitration proceedings, including full compensation for legal costs incurred.
This decision strengthens Frontline’s position that its decision to terminate the combination agreement was entirely lawful.

FRO – Notice of Arbitration from Euronav

Retrieved on:

Monday, January 30, 2023

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Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., confirms that it has received from Euronav NV an arbitration request for proceedings on the merits following Frontline’s decision to terminate the combination agreement as further explained in Frontline’s press release dated 9 January 2023.

Key Points:

Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., confirms that it has received from Euronav NV an arbitration request for proceedings on the merits following Frontline’s decision to terminate the combination agreement as further explained in Frontline’s press release dated 9 January 2023.
Frontline is currently analysing this request with its legal advisors.
Frontline once again confirms that its decision to terminate the combination agreement was entirely lawful.
The request for proceedings on the merits is in addition to Euronav’s earlier emergency arbitration request for urgent interim and conservatory measures as further explained in Frontline’s press release dated 18 January 2023.

FRO – Notice of Emergency Arbitration from Euronav

Retrieved on:

Wednesday, January 18, 2023

Frontline Ltd., Euronav, NYSE, Risk management, Front line (disambiguation)

Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., confirms that it has received from Euronav NV an emergency arbitration request for urgent interim and conservatory measures following Frontline’s decision to terminate the combination agreement as further explained in Frontline’s press release dated 9 January 2023.

Key Points:

Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., confirms that it has received from Euronav NV an emergency arbitration request for urgent interim and conservatory measures following Frontline’s decision to terminate the combination agreement as further explained in Frontline’s press release dated 9 January 2023.
Frontline is currently analysing this request with its legal advisors.
Frontline once again confirms that its decision to terminate the combination agreement was entirely lawful.

FRO - Withdrawing Intention to Bid - Communication in Accordance with Article 8, §1 of the Royal Decree of 27 April 2007 on Public Takeover Bids

Retrieved on:

Monday, January 9, 2023

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This notice relates to an earlier notice in accordance with article 8§1 of the Royal Decree of 27 April 2007 on Public Takeover Bids.

Key Points:

This notice relates to an earlier notice in accordance with article 8§1 of the Royal Decree of 27 April 2007 on Public Takeover Bids.
Frontline Ltd. (“Frontline”) (NYSE: FRO – OSE: FRO) refers to the notice dated 11 July 2022 in accordance with article 8§1 of the Belgian Royal Decree of 27 April 2007 on Public Takeover Bids regarding its intention to make a voluntary conditional exchange offer on all outstanding shares of Euronav NV (“Euronav”) within the context of an agreed combination agreement with Euronav (the “Combination Agreement”) (NYSE: EURN – Euronext Brussels: EURN).
This notice can be found here: https://newsweb.oslobors.no/message/566760 .
Frontline announces that as a result of the termination of the Combination Agreement, it will not make such voluntary conditional exchange offer and formally withdraws the intention expressed earlier, effective immediately.

FRO – Termination of Combination Agreement with Euronav

Retrieved on:

Monday, January 9, 2023

Frontline Ltd., Euronext, NYSE, Risk management, Euronav, Front line (disambiguation)

Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., refers to its announcement on July 11, 2022 regarding the combination between Frontline and Euronav NV ("Euronav") and subsequent updates, and announces that it no longer pursues a combination between Frontline and Euronav.

Key Points:

Frontline plc (“Frontline”) (NYSE: FRO – OSE: FRO), formerly Frontline Ltd., refers to its announcement on July 11, 2022 regarding the combination between Frontline and Euronav NV ("Euronav") and subsequent updates, and announces that it no longer pursues a combination between Frontline and Euronav.
Frontline has terminated the combination agreement it entered into with Euronav in this respect.
As a result, Frontline will not make a voluntary conditional exchange offer for all outstanding Euronav shares.
Frontline has simultaneously with this notice published a separate notice withdrawing its intention to such voluntary conditional exchange offer.

FRO – Redomiciliation of Frontline to Cyprus is Effective

Retrieved on:

Friday, December 30, 2022

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Frontline plc ("Frontline" or the "Company") (NYSE: FRO - OSE: FRO), formerly Frontline Ltd., refers to its announcement on December 20, 2022 regarding the approval by Frontline's shareholders at the Special General Meeting held on December 20, 2022, to redomicile the Company to the Republic of Cyprus under the name of Frontline plc (the "Redomiciliation").

Key Points:

Frontline plc ("Frontline" or the "Company") (NYSE: FRO - OSE: FRO), formerly Frontline Ltd., refers to its announcement on December 20, 2022 regarding the approval by Frontline's shareholders at the Special General Meeting held on December 20, 2022, to redomicile the Company to the Republic of Cyprus under the name of Frontline plc (the "Redomiciliation").
The Registrar of Companies and Official Receiver of the Republic of Cyprus has today issued a temporary redomiciliation certificate, and the Redomiciliation has therefore taken effect.
The business, assets and liabilities of Frontline Ltd. and its subsidiaries prior to the Redomiciliation are the same as Frontline plc immediately after the Redomiciliation on a consolidated basis, as well as its fiscal year.
In addition, the directors and executive officers of the Frontline plc immediately after the Redomiciliation are the same individuals who were directors and executive officers, respectively, of Frontline Ltd. immediately prior to the Redomiciliation.

FRO – Special General Meeting Approves the Redomiciliation of Frontline to Cyprus

Retrieved on:

Tuesday, December 20, 2022

As will follow from these resolutions, Frontline’s shareholders have approved the Redomiciliation of the Company to the Republic of Cyprus under the name of Frontline plc.

Key Points:

As will follow from these resolutions, Frontline’s shareholders have approved the Redomiciliation of the Company to the Republic of Cyprus under the name of Frontline plc.
Following the effective date of the Redomiciliation, shareholders of Frontline will hold one share of Frontline plc for each ordinary share of Frontline held prior to the Redomiciliation.
Upon effectiveness of the Redomiciliation, the rights of shareholders of Frontline plc will arise under Cyprus law and the Amended and Restated Memorandum and Articles of Association (the “Frontline Cyprus Charter”).
The Frontline Cyprus Charter, as approved at the Special General Meeting, will be effective from the date the Temporary Redomiciliation Certificate is issued by the Cyprus Companies' Registry.

FRO – Third Quarter and Nine Months 2022 Results

Retrieved on:

Wednesday, November 30, 2022

We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Key Points:

We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
We caution readers of this report not to place undue reliance on these forward-looking statements, which speak only as of their dates.
These forward-looking statements are no guarantee of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.
See Appendix 1 for a full description of the measures and reconciliation to the nearest GAAP measure.

FRO - Changes to the Board composition

Retrieved on:

Tuesday, October 4, 2022

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Frontline Ltd. (Frontline or the Company) announces the appointment of Mr. Marios Demetriades as a Director of the Company.

Key Points:

Frontline Ltd. (Frontline or the Company) announces the appointment of Mr. Marios Demetriades as a Director of the Company.
Marios Demetriades is an experienced Financial Services professional with significant experience as a Non-Executive Director in various listed and private companies in the Banking, Infrastructure and Shipping industries.
He previously served as the Minister of Transport, Communications and Works for the Republic of Cyprus from 2014 to 2018 and held various positions in the Accounting, Investment and Banking sectors.
Mr. Demetriades is a Cypriot citizen and resides in Cyprus.