Frontline Ltd. has published a public prospectus in connection with (i) a secondary offering of 3,500,000 Frontline shares (ii) a private placement of an additional 4,715,000 Frontline shares and (iii) the conversion of USD 35 million of Frontline debt to 8,230,000 shares in Frontline.
The subscription price is NOK 33.00 per share for the secondary offering, and the conversion price is NOK 33.00 for the debt conversion.
Shareholders and warrant holders as of September 30, 1999, have received purchase rights to purchase shares in the secondary offering in proportion to their respective holding. The rights cannot be sold or transferred..
The subscription period for the secondary offering and the private placement is October 18 to October 29, 1999.
The shares mentioned in (ii) and (iii) above have been registered at the Norwegian Registry of Securities (VPS), and will be tradable from Monday October 18, 1999.
These materials do not constitute an offer of securities for sale in the United States; the securities described herein may not be offered or sold in the United States unless they are registered or exempt from registration under the securities laws of the United States; any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the Company, information about the management of the Company, and financial statements of the Company.
The prospectus can be downloaded from internet at: