FRO - Demerger of Golden Ocean Group Limited
Press release from Frontline Ltd. 07.12.2004
We refer to the press release issued on December 1 regarding the above.
The shares in Golden Ocean Group Limited ("Golden Ocean") will as previously announced be spun off to Frontline's shareholders and the ex-dividend date for Frontline shares will be December 8 for shares listed in Oslo.
For shares listed on the New York Stock Exchange the ex-dividend date will be set as soon as the Cash Price, as defined in the December 1 press release, has been determined and announced.
The Company is currently preparing a prospectus and a listing application with the Oslo Stock Exchange ("OSE"). Subject the latter's approval, the tentative starting date for trade of the shares at OSE looks like December 15. We will revert with more information when the date is finally set. The prospectus will be made available on the Company's web-site, in addition to being mailed to all Frontline shareholders.
December 7, 2004
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda
Questions should be directed to:
Contact: Tor Olav Troim: Director, Frontline Ltd
+47 23 11 40 00
Oscar Spieler: Chief Executive Officer, Frontline Management AS
+47 23 11 40 79
Tom Jebsen, Chief Financial Officer, Frontline Management AS
+47 23 11 40 21
