DHT Holdings, Inc.: Frontline Lawsuit is Dismissed
HAMILTON, BERMUDA, June 19, 2017 - DHT Holdings, Inc. (NYSE:DHT) ("DHT") today announced that the legal action filed by Frontline Ltd. in the High Court of the Republic of the Marshall Islands, which challenged DHT's transaction with BW Group and DHT's Rights Plan, has been dismissed, with prejudice. Frontline is now precluded from bringing similar claims against DHT, its directors and BW Group in any other court. Under Marshall Islands' law, the dismissal also constitutes a ruling on the merits in favor of DHT.
"We are very pleased with the dismissal," said Erik Lind, Chairman of DHT's Board of Directors. "We have consistently stated, both in court and to our shareholders, that Frontline's claims are without merit. Two courts have now agreed with us, and we welcome the dismissal as an appropriate end to the matter."
Cravath, Swaine & Moore LLP is serving as legal counsel to DHT.
About DHT Holdings, Inc.
DHT is an independent crude oil tanker company operating a fleet of crude oil tankers in the VLCC and Aframax segments. We operate through our wholly owned management companies in Oslo, Norway and Singapore. For further information: www.dhtankers.com.
Forward Looking Statements
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Svein Moxnes Harfjeld, Co-CEO: +47 23115080
Trygve P. Munthe, Co-CEO: +47 23115080