Shareholders at a special general meeting of Frontline Ltd have approved the Bermudian-based shipping company’s redomiciliation to Cyprus.

Frontline is engaged primarily in the ownership and operation of oil tankers and product tankers.

The company’s board of directors had previously unanimously approved the redomiciliation.

Frontline will continue as a public company limited by shares incorporated in the Republic of Cyprus under the name of Frontline Plc.

The current directors of Frontline (Bermuda) – John Fredriksen, James O’Shaughnessy, Ola Lorentzon, Steen Jakobsen, Ole B Hjertaker and Marios Demetriades – will continue as the directors of Frontline Plc.

The redomiciliation remains subject to certain final conditions including the issuance of a temporary redomiciliation certificate by the Registrar of Companies and Official Receiver of the Republic of Cyprus.

If such remaining conditions are satisfied, the company said, the redomiciliation is expected to be completed by December 31 or shortly thereafter following which the company's shares will continue to trade on the New York Stock Exchange and the Oslo Stock Exchange under the existing ticker symbol FRO.