OSLO, Norway, May 23, 2001 (PRIMEZONE) — In connection with the expiry on May 11, 2001 of the warrants issued by Frontline (Nasdaq:FRONY), a final amount of 2,805 shares have been issued in exchange for proceeds equal to USD 36,418.
An employee of Frontline has exercised options to acquire a total of 3,750 shares in Frontline. All shares have been acquired at a strike price of NOK 58 per share. Total proceeds were NOK 217,500.
Total number of outstanding shares after this is 77,004,066.
CONTACT: Frontline Ltd., Oslo
Tom E. Jebsen, CFO
+47 23 11 40 00
Kate Blankenship
+1 441 295 6935