Scorpio Tankers Inc. Announces a Stock Buyback Program and Delivery of STI Matador
MONACO--(Marketwire - July 9, 2010) - The Board of Directors of Scorpio Tankers Inc. (NYSE: STNG )
(the "Company" and "Scorpio Tankers") authorized a share buyback program of $20 million. Scorpio Tankers
expects to repurchase these shares in the open market, at times and prices that are considered to be appropriate
by the Company.
The Company also announces the delivery of STI Matador, a 40,000 dead weight ton product tanker, which
was previously agreed to be purchased. The vessel will be a participant in the Scorpio Handymax Tanker Pool,
which is owned by a related party.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers
Inc. currently owns four LR1 product tankers, two Handymax tankers, and one post-Panamax tanker with an
average age of 5.5 years and has signed agreements to purchase two Handymax tankers. Additional information
about the Company is available at the Company's website www.scorpiotankers.com .
Matters discussed in this press release may constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their business. Forward-looking statements
include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical facts. The Company desires to
take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe harbor legislation. The words "believe,"
"anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should,"