2013-09-24 14:29:02 -
This is a correction of the announcement from 14:48 23.09.2013 CEST. Reason for
the correction: Item 5 re: Capital Reorganisation was incorrectly omitted from
the previous announcement.
Independent Tankers Corporation Limited (the "Company") advises that the 2013
Annual General Meeting of the Company was held on September 20, 2013 at 11:00
a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda. The
following resolutions were passed:
1) To re-elect Tor Olav Trøim as a Director of the Company;
2) To re-elect Kate Blankenship as a Director of the Company.
3) To re-elect Inger M. Klemp as a Director of the Company.
4) To re-appoint PricewaterhouseCoopers AS of Oslo, Norway as auditors and
to authorise the Directors to determine their remuneration.
5) That, with effect from 12:00 p.m. (Bermuda time)
on September 30, 2013,
or such other time as may be determined by the Board of Directors of the Company
(the "Effective Date") a capital reorganisation (the "Capital
of the Company be implemented as follows :
a) the issued and paid-up share capital of the Company be reduced from
US$22,447,549.80 to US$748,251.66 by cancelling the paid-up capital of the
Company to the extent of US$0.29 on each of the issued shares of par value
US$0.30 in the share capital of the Company as at the Effective Date so that
each issued share of US$0.30 shall from the Effective Date have a par value of
US$0.01 be treated in all respects as one (1) fully paid-up share of par value
US$0.01 (the "Capital Reduction");
b) that subject to and forthwith upon the Capital Reduction taking effect,
the amount of credit arising therefrom be credited to the contributed surplus
account of the Company and that the Directors of the Company be authorized to
apply any credit balance in the contributed surplus account of the Company in
accordance with the Bye-laws of the Company and all applicable laws;
c) that subject to and forthwith upon the Capital Reduction taking effect,
all the 591,841,501 authorised but unissued shares of US$0.30 each in the
Company be cancelled and the authorized share capital of the Company of
US$200,000,000.00 be diminished by US$177,552,450.20 representing the amount of
shares so cancelled and forthwith upon such cancellation, the authorized share
capital of the Company be restored to US$200,000,000.00 by creating
19,925,174,834 shares of par value US$0.01 each; and
d) that subject to and forthwith upon the Capital Reduction taking effect,
the register of shareholders (and each branch register and sub-register) shall
be amended such that the shares in issue on the Effective Date shall be recorded
as having a par value of US$0.01 each.
6) That the remuneration payable to the Company's Board of Directors of a
total amount of fees not to exceed US$50,000 be approved for the year ended
December 31, 2013.
In addition, the audited consolidated financial statements for the Company for
the year ended December 31, 2012 were presented to the Meeting.
September 20, 2013
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Independent Tankers Corporation Limited via Thomson Reuters ONE