Frontline shareholders approve new director, key capital mandates

Frontline plc held its 2025 annual general meeting on December 8, 2025, in Limassol, Cyprus. Shareholders reviewed the audited consolidated financial statements for the year ended December 31, 2024. Key resolutions included the re-election of six directors: John Fredriksen, James O'Shaughnessy, Ola Lorentzon, Cato Stonex, Orjan Svanevik, and Dr. Maria Papakokkinou. Richard C. Prince was elected as a new director. PricewaterhouseCoopers of Limassol, Cyprus, was re-appointed as auditors, with the directors authorized to determine their remuneration.

Shareholders approved total board of directors' fees not exceeding $600,000 for the year ended December 31, 2025. Crucially, two significant mandates were passed, effective from December 8, 2025, for a twelve-month period. The first permits the exclusion of shareholders' pre-emption rights for public offers of a maximum of 377,377,111 ordinary shares, each with a nominal value of $1, at a subscription price not lower than $1 per share.

The second mandate similarly excludes pre-emption rights for public offers of up to 377,377,111 debentures, other convertible securities, or options, also with a nominal value of $1 each, at a subscription price not lower than $1 per security. These measures grant the board of directors flexibility in future capital raises. An advisory vote also approved the company's remuneration report for 2024.