Frontline, Frontline 2012 Merger Cleared

zoom The merger transactions by and among Frontline, Frontline 2012 and Frontline Acquisition Ltd., a wholly-owned subsidiary of Frontline, pursuant to which Frontline Acquisition Ltd. will merge with and into Frontline 2012, has been approved today at the special general meeting of the shareholders of the respective companies. The merger will see Frontline as the surviving legal entity and Frontline 2012 becoming a wholly-owned subsidiary of Frontline, creating the second biggest tanker shipping company. The closing of the merger is expected to take place following close of trade on the Oslo Stock Exchange and close of the NOTC today. Once completed, Frontline together with its subsidiary Frontline 2012 will have a fleet of approximately 90 vessels, including vessels on commercial management, vessels on time charter in and newbuildings due for delivery in the next 24 months.