options to acquire 73,750 ordinary shares in the company. 70,000 shares were acquired at a strike price of NOK 44.50 per share and the remaining 3,750 at a strike price of NOK 58 per share. The total proceeds were NOK 3,332,500.

In addition 285 warrants have been exercised by holders of Frontline warrants and the company issued 28 shares in exchange for the proceeds which were $445.

The total number of outstanding shares now stands at 76,975,303 and outstanding warrants at 25,916,894.