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Commission File No. 0-29106
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of February, 2000
KNIGHTSBRIDGE TANKERS LIMITED
(Translation of registrant's name into English)
Cedar House
41 Cedar Avenue
Hamilton HM 12
Bermuda
(Address of principal executive offices)
Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by
furnishing the information contained in this Form is also thereby
furnishing the information to the commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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Item 1. INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached as Exhibit 1 is a copy of the press release of
Knightsbridge Tankers Limited (the "Company"), dated February 15,
2000, relating to the mailing of the statement filed as
Exhibit 2.
Attached as Exhibit 2 is a copy of a letter distributed
by Knightsbridge Tankers Limited to its U.S. shareholders
containing tax information that those shareholders may need in
order to make a "QEF" election.
Item 2. ADDITIONAL INFORMATION
Royal Dutch Petroleum Company and The Shell Transport
and Trading Company, Public Limited Company file annual reports
on Form 20-F (File Nos. 1-3788 and 1-4039) and periodic reports
on Form 6-K with the Securities and Exchange Commission pursuant
to the Securities Exchange Act of 1934, as amended. Such annual
reports contain the financial statements of the Royal Dutch/Shell
Group of Companies.
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EXHIBIT #1
FOR IMMEDIATE RELEASE
KNIGHTSBRIDGE TANKERS LIMITED
announces
Distribution of PFIC Information
Contact: Karl Molander
Knightsbridge Tankers Limited
Investor Relations
(011)+46-8-613 30 30
Hamilton, Bermuda, February 22, 2000: Knightsbridge
Tankers Limited (Nasdaq: VLCCF) announced today that it has
provided to Depository Trust Company for distribution to its
shareholders "PFIC Earnings" information required by its United
States shareholders who have made "QEF" elections. Copies of the
"PFIC Earnings" information are also being mailed to shareholders
directly and filed with the Securities and Exchange Commission.
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EXHIBIT #2
KNIGHTSBRIDGE LOGO
February 15, 2000
TO: The Shareholders of
Knightsbridge Tankers Limited
That Are United States Taxpayers
As you are aware, Knightsbridge Tankers Limited
("Knightsbridge") is a "Passive Foreign Investment Company"
("PFIC") for United States income tax purposes. The following is
a PFIC annual information statement for the taxable year of
Knightsbridge beginning on January 1, 1999 and ending on December
31, 1999. This statement is being provided so that you may
report your pro rata share of Knightsbridge's income in the event
that you have elected to treat Knightsbridge as a "qualified
electing fund" ("QEF") under the applicable provisions of the
United States Internal Revenue Code.
You should keep this statement in your records but do
not need to attach this statement to your IRS Form 8621, "Return
by a Shareholder of a Passive Foreign Investment Company or
Qualified Electing Fund". In order to assist you in completing
Form 8621, the address of Knightsbridge is: Cedar House, 41
Cedar Avenue, Hamilton HM 12, Bermuda.
Knightsbridge Tankers Limited
Investor Relations Knightsbridge Tankers Limited
P.O.Box 7007, S-103 86, Stockholm, Sweden Registered Office
Telephone: Int + 46-8-613 30 30 Cedar House, 41 Cedar Avenue
Telefax: Int + 46-8-613 99 09 Hamilton HM 12, Bermuda
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PFIC Annual Information Statement
1. This Information Statement applies to the taxable year of
Knightsbridge Tankers Limited ("Knightsbridge") beginning on
January 1, 1999 and ending on December 31, 1999 (the
"Taxable Year").
2. (i) Your pro rata share of the ordinary earnings of
Knightsbridge for the Taxable Year may be determined as
follows:
(a) If you owned the same number of Knightsbridge shares
from January 1, 1999 through December 31, 1999,
multiply the number of such Knightsbridge shares by
$0.333992.
(b) If you did not own Knightsbridge shares for the
entire period beginning January 1, 1999 and ending
December 31, 1999, multiply the number of shares you
owned by $0.333992, divide the result by 365, and
multiply by the number of days during 1999 that you
held such shares.*
(c) If you owned different numbers of Knightsbridge
shares at different times during 1999, perform the
calculation specified in (b) above separately for
each lot of shares owned.
(ii) Your pro rata share of the net capital gain of
Knightsbridge for the Taxable Year is zero.
3. The amount of cash and the fair market value of other
property distributed or deemed distributed by Knightsbridge
during the Taxable Year is as follows:
Cash: See note**
____________________
* For example, if you acquired 100 shares on July 1, 1999
and held them throughout the remainder of 1999, your pro
rata share of Knightsbridge's ordinary earnings would be
$16.84 (i.e., 100 shares x $0.333992 x 184/365).
** On February 9, 1999, Knightsbridge made a distribution of
$0.45 per share to shareholders of record on January 25,
1999. On May 11, 1999, Knightsbridge made a distribution
of $0.45 per share to shareholders of record on April 26,
1999. On August 11, 1999, Knightsbridge made a
distribution of $0.45 per share to shareholders of record
(footnote continued)
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Fair Market Value of Property: 0
4. Knightsbridge will permit you to inspect and copy
Knightsbridge's permanent books of account, records, and
such other documents as may be maintained by Knightsbridge
to establish that Knightsbridge's ordinary earnings and net
capital gain are computed in accordance with U.S. income tax
principles, and to verify these amounts and your pro rata
shares thereof.
KNIGHTSBRIDGE TANKERS LIMITED
Date: February 15, 2000 By: /s/ Ola Lorentzon
_____________________________
Name: Ola Lorentzon
Title: Deputy Chairman
THIS INFORMATION IS PROVIDED IN ORDER TO ASSIST SHAREHOLDERS IN
MAKING CALCULATIONS, AND DOES NOT CONSTITUTE TAX ADVICE.
SHAREHOLDERS ARE ADVISED TO CONSULT THEIR OWN TAX ADVISORS
CONCERNING THE OVERALL TAX CONSEQUENCES OF THE OWNERSHIP OF
COMMON SHARES ARISING IN THEIR OWN PARTICULAR SITUATIONS UNDER
UNITED STATES FEDERAL, STATE, LOCAL OR FOREIGN LAW.
____________________
(footnote continued)
on July 27, 1999. On November 10, 1999, Knightsbridge
made a distribution of $0.45 per share to shareholders of
record on October 26, 1999. The total amount of these
four distributions exceeded the sum of Knightsbridge's
earnings and profits for the Taxable Year and
Knightsbridge's earnings and profits accumulated in prior
years. Accordingly, 18.555% of each distribution is a
dividend and 81.445% of each distribution is a non-taxable
return of capital.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly
authorized.
KNIGHTSBRIDGE TANKERS LIMITED
(registrant)
Dated: February 23, 2000 By: /s/ Ola Lorentzon
___________________________
Ola Lorentzon
Director, Deputy Chairman
and Treasurer
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