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Spin off/demerger



Company Spin off % Number of FRO
shares per ITCL,
SFL or GOGL share
Cost allocation
per ITCL,
SFL or
GOGL
share
Dividend per
FRO share
Report date Ex dividend
date
Distribution
date
Q1 2008 Independent Tankers Corporation 17.53 5:1 $ 1.72
NOK8.78
$ 0.34
NOK1.756
20.02.2008 14.03.2008 (NYSE)
26.02.2008 (OSE & LSE)
26.03.2008 (NYSE)
06.03.2008 (OSE & LSE)
Q4 2006 Ship Finance 11.02 28:3 $ 26.00
NOK157.31
$ 2.7857
NOK16.855
27.02.2007 06.03.2007 22.03.2007
Q4 2005 Ship Finance 5.14 20:1 $ 17.04
NOK122.31
$ 0.852
NOK6.116
17.02.2006 02.03.2006 20.03.2006
Q4 2004 Ship Finance 10.00 10:1 $ 20.58
NOK125.56
$ 2.058
NOK12.556
22.02.2005 09.03.2005 24.03.2005
Q4 2004 Ship Finance 25.00 4:1 $ 22.15
NOK148.27
$ 5.5375
NOK37.069
28.01.2005 03.02.2005 18.02.2005
Q3 2004 Golden Ocean 100.00 1:3 $ 0.60

NOK0.00
$1.800

NOK0.000
07.12.2004 23.12.2004
(NYSE)
08.12.2004
(OSE)
11.01.2005

13.12.2004
Q3 2004 Ship Finance 13.20 15:2 $ 23.65
NOK157.67
$3.400
NOK21.020
15.11.2004 29.11.2004 15.12.2004
Q2 2004 Ship Finance 10.00 10:1 $ 21.13
NOK122.16
$ 2.113
NOK12.216
19.08.2004 08.09.2004 24.09.2004
Q1 2004 Ship Finance 25.00 4:1 $ 14.75

NOK26.00
$ 3.688

NOK6.500
26.05.2004 17.06.2004
(NYSE)
03.06.2004
(OSE)
16.06.2004

16.06.2004

Cost allocation in US is set basis the share price on distribution date, while the cost allocation in Norway is set basis the share price on the last date including the dividend (the date before ex dividend date).

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