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Frontline Ltd. (NYSE:FRO) shares dropped 10% to $2.79 on no official news. The company on Sept. 5 announce that it has completed a private placement of 34.1 million new ordinary shares of $2.00 par value at a subscription price of $6.60, raising $225 million in gross proceeds to the Company (the "Private Placement").
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The proceeds will be used to finance the announced investment in Avance Gas Holding Ltd (AGHL), the current newbuilding program and further expansion.
Additionally, The Board of Frontline Ltd. (the "Company" or "Frontline") on August 28 announces a net loss attributable to the Company of $120.3 million in the second quarter, equivalent to a loss per share of $1.54, compared with a net loss of $18.8 million for the first quarter, equivalent to a loss per share of $0.24.
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) shares increased 1.34% to $17.43. The company announced the results of the stockholder vote at its Annual Meeting of Stockholders held on Sept. 18. The following directors were elected: Strauss Zelnick, Chairman; Robert A. Bowman; SungHwan Cho; Michael Dornemann; Brett Icahn; J. Moses; James L. Nelson and Michael Sheresky.
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In addition, the Company's stockholders approved: the Amendment to the Take-Two Interactive Software, Inc. 2009 Stock Incentive Plan to increase the available shares reserved thereunder; The advisory vote to approve the compensation of the named executive officers; and the appointment of Ernst & Young LLP as its independent registered public accounting firm for the fiscal year ending March 31, 2014.
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