Team Tankers International Ltd. : Distribution of shares to the Chief Financial Officer

As previously announced in February 2016, Mr. Kevin Kilcullen, Chief Financial 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. Kilcullen has today received 60,000 shares (net post tax) (the "Vested Shares"). Mr. Kilcullen has not paid any cash consideration for the Vested Shares. Following the distribution of the Vested Shares, Mr. Kilcullen is the owner of 120,000 shares and he has a right to acquire a further 200,000 shares under the equity award announced in 2016. After this transaction, the Company has outstanding equity awards in respect of a total of 2,731,417 shares. The Company has issued to date a total of 188,482,074 shares of which 3,763,499 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.

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Source: Team Tankers International Ltd. via GlobeNewswire
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