Team Tankers International Ltd. : Final Settlement of Purchase Prices

Reference is made to the stock exchange announcement made by Team Tankers International Ltd ("Team Tankers" or the "Company) on 4 April 2018 regarding the closing of the Company's acquisitions of all of the outstanding shares in each of Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd...

London, 31/07/2018 (informazione.news - comunicati stampa - trasporti)

Reference is made to the stock exchange announcement made by Team Tankers International Ltd ("Team Tankers" or the "Company) on 4 April 2018 regarding the closing of the Company's acquisitions of all of the outstanding shares in each of Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd.

The final purchase prices payable for the shares in Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd. have been set to USD $10.4 million and USD $54.4 million respectively, and the final subscription price for the shares in the Company has been set to USD 2.01 per share (approximately NOK 16.37 at current exchange rates). As a consequence of these post-closing adjustments, Thunder Bay Ltd has today redelivered 477,738 shares in the Company to Team Tankers at the subscription price.    

After this transaction Team Tankers owns a total of 4,327,369 treasury shares, representing 2.06% of issued shares in the Company and Thunder Bay Ltd owns 20,618,361 shares in the Company, representing 9.84% of the shares and votes in the Company.

Hamilton, Bermuda, 31 July 2018
Team Tankers International Ltd.

For further information, please contact:

Hans Feringa, President and CEO
T: +1 203 221 3420

Kevin Kilcullen, CFO
T: +1 203 221 3433

This information is subject to the disclosure requirements pursuant to section 4-2 and 4-3 of the Norwegian Securities Trading Act.