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Tsakos Energy Navigation Limited Notifies The Exchange Of Exercise Of Options
On 8 April 2003, options granted under the stock option plan approved in June 1998 (plan A) over 287,000 shares were exercised at $10 per share (plan A). The issued share capital after the exercise of plan A is 17,279,723 shares. There are also 163,000 shares under plan B to be exercised by their respective owners at $12 per share until 17 July 2006. No option shares under plan B have been exercised to date.
Of the 287,000 options, 69,000 will be exercised by directors and officers at the close of business (16:00 New York time) in New York