Press release from Ship Finance International Limited - 27.09.2010
Ship Finance International Limited (the "Company") advises that the 2010 Annual General Meeting of the Company was held on September 24, 2010 at 12:10 p.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda. The following resolutions were passed:
To re-elect Paul Leand Jr. as a Director of the Company.
To re-elect Kate Blankenship as a Director of the Company.
To re-elect Hans Petter Aas as a Director of the Company.
To re-elect Cecilie Fredriksen as a Director of the Company.
To re-appoint Moore Stephens, P.C. as auditors and to authorise the Directors to determine their remuneration.
That the remuneration payable to the Company's Board of Directors of a total amount of fees not to exceed US$510,000.00 be approved for the year ended December 31, 2010.
In addition, the audited consolidated financial statements for Ship Finance International Limited for the year ended December 31, 2009 were presented to the Meeting.
Hamilton, Bermuda September 24, 2010
About Ship Finance
Ship Finance is a major ship owning company listed on the New York Stock Exchange (NYSE: SFL). Including newbuildings, the Company has a fleet of 70 vessels, including 30 crude oil tankers (VLCC and Suezmax), two chemical tankers, eight oil/bulk/ore vessels, 11 dry-bulk carrier, nine container vessels, six offshore supply vessels, one jack-up drilling rigs and three ultra-deepwater drilling units. The fleet is one of the largest in the world and most of the vessels are employed on long-term charters. The Company has declared a cash dividend for 26 consecutive quarters.
More information can be found on the Company's website: www.shipfinance.org
This press release may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Ship Finance management's examination of historical operating trends. Although Ship Finance believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Ship Finance cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in this presentation include the strength of world economies and currencies, general market conditions including fluctuations in charter hire rates and vessel values, changes in demand in the tanker market as a result of changes in OPEC's petroleum production levels and world wide oil consumption and storage, changes in the Company's operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission.