Bermuda
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Not Required
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer Identification No.)
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Title of securities to be registered
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Amount to be registered (1)
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Proposed maximum offering price per share
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Proposed maximum aggregate offering price
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Amount of registration fee (3)
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Common Shares,
par value $1.00 per share
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69,000
21,000
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$10.00(2)
$12.00(2)
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$690,000
$252,000
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$63.48
$23.18
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TOTAL
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90,000
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$86.66
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(1)
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Pursuant to Rule 416(a), the number of shares of Common Stock being registered shall be adjusted to include any additional shares which may become issuable as a
result of stock splits, stock dividends or similar transactions in accordance with the provisions of the Stock Option Plan.
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(2)
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Calculated pursuant to Rule 457(h) for the purpose of calculating the registration fee, based upon the price at which outstanding options under the Tsakos
Energy Navigation Limited Stock Option Plan may be exercised.
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(3)
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Calculated pursuant to Section 6(b) of the Securities Act of 1933 as follows: Proposed maximum aggregate offering price per share multiplied by .000092.
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*
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Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the
Securities Act of 1933, as amended, and the Introductory Note to Part I of Form S-8.
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Prospectus
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·
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These shares of common stock are being offered by the selling stockholders identified in this prospectus. We have issued or will issue the shares of our common
stock to the selling stockholders under our Stock Option Plan.
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·
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The selling stockholders may offer their shares of common stock through public or private transactions, in the principal markets on which our common stock is
traded at the time of sale or elsewhere, at prevailing market prices or at privately negotiated prices.
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·
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The selling stockholders may sell their shares of common stock directly or through brokers and dealers acting as principal or agent. In effecting the sales, the
brokers or dealers may receive commissions or discounts from the selling stockholders. We will pay substantially all of the expenses incident to the registration of the shares, except for sales commissions and other sellers compensation
applicable to the sale of the shares.
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·
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The selling stockholders and any broker or dealers that participate with the selling stockholders in the distribution of the shares of common stock may be
deemed to be underwriters within the meaning of the Securities Act of 1933. Any commissions or discounts received by them and any profit on the sale of the shares may be deemed to be underwriting commissions or discounts under the
Securities Act.
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·
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Our common shares are traded on the New York Stock Exchange under the symbol TNP. On January
30, 2003, the last reported sale price of our
common shares on the New York Stock Exchange was $
14.85 per share. We urge you to obtain a current price quotation.
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Page
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1
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2
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2
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2
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3
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5
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5
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5
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·
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450 Fifth Street, N.W.
Washington, DC 20549 |
·
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The prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the Securities Act), dated March 5, 2002, respect to our
Registration Statement on with from F-1 (Registration No. 333-82326).
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·
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Current Reports on Form 6-K, filed with the SEC on May 15, 2002, June 7, 2002, August 26, 2002 and December 24, 2002.
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·
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The description of our common stock and associated rights contained in our registration statement filed with the SEC under Section 12 of the Securities Exchange
Act, including all amendments and reports filed with the SEC that update those descriptions.
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Name and Position with Company
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Number of Shares Owned Prior to Sales Under This Prospectus (1)
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Number of Shares Available for Sales Under this Prospectus
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Percentage of Common Stock Owned Before Sales
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Number of Shares Owned After Sales (2)
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Percentage of Common Stock Owned After Sales (2) (3)
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D. John Stavropoulos
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56,272
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12,000
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*
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44,272
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*
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Chairman of the Board of Directors
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Nikolas Tsakos
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15,000
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15,000
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*
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0
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0
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President, Chief Executive Officer and Director
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Michael Jolliffe
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10,000
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10,000
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*
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0
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0
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Deputy Chairman of the Board of Directors and Director
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George Saroglou
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12,000
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12,000
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*
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0
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0
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Chief Operating Officer and Director
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Name and Position with Company
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Number of Shares Owned Prior to Sales Under This Prospectus (1)
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Number of Shares Available for Sales Under this Prospectus
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Percentage of Common Stock Owned Before Sales
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Number of Shares Owned After Sales (2)
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Percentage of Common Stock Owned After Sales (2) (3)
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Paul Durham
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8,000
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8,000
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*
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0
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0
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Finance Director and Chief Accounting Officer
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Emmanuel G. Pantelides
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5,000
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5,000
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*
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0
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0
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Secretary
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Peter Nicholson
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10,000
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10,000
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*
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0
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0
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Director
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Antonio Taragoni
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10,000
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10,000
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*
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0
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0
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Director
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Paul Labrinakos
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8,000
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8,000
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*
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0
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0
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Marine Director
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(1)
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Number of shares includes shares of common stock, options to purchase shares of common stock, owned directly or indirectly by the selling stockholders,
including shares acquired under the Stock Option Plan.
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(2)
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Based upon the number to be owned if all of the shares of common stock available for sale under this prospectus were resold.
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(3)
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Percentage is based upon 17,064,523 shares of our common stock outstanding as of December 31, 2002.
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·
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on the New York Stock Exchange, on the Oslo Børs or on another securities exchange within or without the United States or in the over-the-counter market
in the United States or elsewhere (any of which may involve crosses and block transactions);
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·
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to purchasers directly;
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·
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in ordinary brokerage transactions in which the broker solicits purchasers;
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·
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through underwriters, dealers and agents who may receive compensation in the form of underwriting discounts, concessions or commissions from a seller and/or the
purchasers of the shares for whom they may act as agent;
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·
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through the writing of options on the shares;
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·
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through the pledge of shares as security for any loan or obligation, including pledges to brokers or dealers who may from time to time effect distributions of
the shares or other interests in the shares;
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·
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through purchases by a broker or dealer as principal and resale by such broker or dealer for its own account pursuant to this prospectus;
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·
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through block trades in which the broker or dealer so engaged will attempt to sell the shares as agent or as riskless principal but may position and resell a
portion of the block as principal to facilitate the transaction;
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·
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through exchange distributions in accordance with the rules of the applicable exchange;
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·
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in any combination of one or more of these methods; or
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·
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in any other lawful manner.
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Item 3.
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Incorporation of Documents by Reference.
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Item 4.
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Description of Securities.
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Item 5.
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Interests of Named Experts and Counsel.
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Item 6.
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Indemnification of Directors and Officers.
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Item 7.
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Exemption from Registration Claimed.
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Item 8.
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Exhibits.
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Exhibit
Numbers
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Exhibits
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4.1
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Form of Share Certificate (Filed as Exhibit 4.1 to Tsakos Energy Navigation Limiteds Registration Statement on Form F-1 (Registration no. 333-82326),
and incorporated by reference thereto)
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4.2
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Stock Option Plan (Filed as Exhibit 10.1 to Tsakos Energy Navigation Limiteds Registration Statement on Form F-1 (Registration no. 333-82326), and
incorporated by reference thereto)
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5
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Opinion of Mello Jones & Martin
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23.1
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Consent of Mello Jones & Martin (included in its opinion filed as Exhibit 5 to this Registration Statement)
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24
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Powers of Attorney (included on signature pages hereof)
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Item 9.
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Undertakings.
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(a)
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The undersigned registrant hereby undertakes:
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T
SAKOS
E
NERGY
N
AVIGATION
L
IMITED
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By:
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/
S
/ N
IKOLAS
P. T
SAKOS
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Name:
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Nikolas P. Tsakos
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Title:
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President
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Signature
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Title
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Date
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/
S
/ D. J
OHN
S
TAVROPOULOS
D. John Stavropoulos
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Chairman of the Board of Directors
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January 31, 2003
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/
S
/ N
IKOLAS
P. T
SAKOS
Nikolas P. Tsakos
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President, Chief Executive Officer, Director (Principal Executive Officer)
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January 31, 2003
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Signature
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Title
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Date
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/
S
/ G
EORGE
V.
S
AROGLOU
George V. Saroglou
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Chief Operating Officer and Director
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January 31, 2003
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/
S
/ E
MMANUEL
G.
P
ANTELIDES
Emmanuel G. Pantelides
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Secretary
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January 31, 2003
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/
S
/ P
AUL
D
URHAM
Paul Durham
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Chief Accounting Officer (Principal Accounting Officer)
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January 31, 2003
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/
S
/ M
ICHAEL
G.
J
OLLIFFE
Michael G. Jolliffe
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Deputy Chairman of the Board of Directors
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January 31, 2003
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Director
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January 31, 2003
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Peter Nicholson
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Director
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January 31, 2003
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Antonio Taragoni
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Director
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January 31, 2003
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Torben Janholt
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Exhibit
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Description
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4.1
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Form of Share Certificate (Filed as Exhibit 4.1 to Tsakos Energy Navigation Limiteds Registration Statement on Form F-1 (Registration no. 333-82326),
and incorporated by reference thereto)
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4.2
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Stock Option Plan (Filed as Exhibit 10.1 to Tsakos Energy Navigation Limiteds Registration Statement on Form F-1 (Registration no. 333-82326), and
incorporated by reference thereto)
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5
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Opinion of Mello Jones & Martin
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23.1
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Consent of Mello Jones & Martin (included in its opinion filed as Exhibit 5 to this Registration Statement)
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24
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Powers of Attorney (included on signature pages hereof)
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1.
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The Company has been duly incorporated and is validly existing under the laws of Bermuda.
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2.
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The Shares, when issued and paid for as contemplated by the Companys Stock Option Plan, will be validly issued, fully paid and non-assessable.
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