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Team Tankers International Ltd. : Distribution of shares to the President and CEO

GlobeNewswire

Team Tankers International Ltd.: Distribution of shares to the President and CEO

As previously announced on 1 September 2015, Mr. Hans Feringa, President and Chief Executive Officer 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. Feringa has today received 282,723 shares (net post tax) (the "Vested Shares"). Mr. Feringa has not paid any cash consideration for the Vested Shares. Following the distribution of the Vested Shares, Mr. Feringa is the owner of 1,036,651 shares and he has a right to acquire a further 942,410 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 2,831,417 shares. The Company has issued to date a total of 188,482,074 shares of which 3,812,258 shares are held by the Company as treasury shares.

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The Board of Directors

Team Tankers International Ltd.

Hamilton, Bermuda

Questions should be directed to:

Hans Feringa: President and CEO

T: +1 203 221 3600

Kevin Kilcullen: CFO

T: +1 203 221 3600

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 on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Team Tankers International Ltd. via GlobeNewswire
HUG#2132420