February 6, 2017 / 5:55 AM / 10 months ago

BRIEF-DHT Holdings board unanimously rejects Frontline offer

Feb 6 (Reuters) - Dht Holdings Inc says:

* DHT Holdings board unanimously rejects unsolicited proposal from Frontline.

* the DHT board concluded that the “Frontline proposal is wholly inadequate and not in the best interests of DHT or its shareholders”

* “We believe that Frontline’s proposal substantially undervalues our company and represents an opportunistic attempt to acquire DHT at a low point in the cycle,” said Erik Lind, Chairman of DHT.

* Says “We are confident that DHT will generate significantly more value to shareholders as an independent company than the prospects afforded by this proposal.”

* Says: The execution of DHT’s strategic plan will continue to drive significant and sustainable value for DHT shareholders

* The Frontline proposal would not properly value DHT’s contribution to a combined company and would result in unacceptable dilution to DHT’s shareholders.

* About DHT Holdings, Inc Source text for Eikon: Further company coverage: (Reporting by Gwladys Fouche)

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