SFL – 2016 Annual General Meeting

Ship Finance International Limited (the “Company”) advises that the 2016 Annual General Meeting of the Shareholders of the Company was held on September 23, 2016 at 11:15 a.m. at the Rosewood Tucker’s Point Hotel, 60 Tucker’s Point Drive, Hamilton Parish HS02, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2015 were presented to the Meeting.

In addition, the following resolutions were passed:

  1. To re-elect Hans Petter Aas as a Director of the Company.
  2. To re-elect Paul Leand, Jr., as a Director of the Company.
  3. To re-elect Kate Blankenship as a Director of the Company.
  4. To re-elect Harald Thorstein as a Director of the Company.
  5. To re-elect Bert M. Bekker as a Director of the Company.
  6. That with effect on or about September 30, 2016 or such other time as may be determined by the Directors of the Company, the re-organisation of the Company’s share capital (the “Capital Adjustment”) be undertaken as more particularly set out in the Proxy Statement.
  7. That Bye-law 55 of the Company’s Bye-laws relating to the quorum necessary for the transaction of company business at a General Meeting be and is amended and re-stated.
  8. That Moore Stephens, P.C. be re-appointed as auditors of the Company and that the Directors be authorised to determine their remuneration.
  9. That the remuneration payable to the Company’s Board of Directors of a total amount of fees not to exceed US$800,000.00 be approved for the year ended December 31, 2016.

Hamilton, Bermuda

September 23, 2016


About Ship Finance

Ship Finance International Limited (NYSE: SFL) has an unprecedented track record in the maritime industry, being consistently profitable and paying dividends every quarter since 2004. The Company’s fleet of more than 70 vessels is split between tankers, bulkers, container vessels and offshore assets, and Ship Finance’s long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time. More information can be found on the Company’s website: www.shipfinance.bm

Cautionary Statement Regarding Forward Looking Statements

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 worldwide 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.