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OFFON

FRONTLINE LTD.

(FRO)
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FRO – 2021 Annual General Meeting

05/26/2021 | 01:03pm EDT

Frontline Ltd. (the “Company”) advises that the 2021 Annual General Meeting of the Shareholders of the Company was held on May 26, 2021 at 9:00 a.m. at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2020 were presented to the Meeting.

In addition, the following resolutions were passed:

1.   To set the maximum number of Directors to be not more than eight.

2.   To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorised to fill such vacancies as and when it deems fit.

3.   To re-elect John Fredriksen as a Director of the Company.

4.   To re-elect James O’Shaughnessy as a Director of the Company.

5.   To re-elect Ola Lorentzon as a Director of the Company.

6.   To re-elect Tor Svelland as a Director of the Company.

7.   To re-appoint PricewaterhouseCoopers AS of Oslo, Norway as auditors and to authorise the Directors to determine their remuneration.

8.   To approve the remuneration of the Company’s Board of Directors of a total amount of fees not to exceed US$600,000 for the year ended December 31, 2021.

Following the re-election of John Fredriksen as a Director at the 2021 Annual General Meeting, it is announced that he has stepped down as Chairman and President of the Company. The Board of Directors has appointed Ola Lorentzon as Chairman of the Company with effect from today’s date.

Hamilton, Bermuda
May 26, 2021

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

 


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ę GlobeNewswire 2021
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Financials (USD)
Sales 2021 464 M - -
Net income 2021 56,9 M - -
Net Debt 2021 2 003 M - -
P/E ratio 2021 29,3x
Yield 2021 1,90%
Capitalization 1 564 M 1 564 M -
EV / Sales 2021 7,68x
EV / Sales 2022 5,17x
Nbr of Employees 84
Free-Float 49,2%
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Technical analysis trends FRONTLINE LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Last Close Price 7,90 $
Average target price 8,22 $
Spread / Average Target 4,05%
EPS Revisions
Managers and Directors
Lars H. Barstad Chief Executive Officer
John Fredriksen Chairman & President
Inger Marie Klemp Chief Financial Officer
Ola Lorentzon Independent Director
James O'Shaughnessy Independent Director
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