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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): May 5, 2000
OMI CORPORATION
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(Exact name of registrant as specified in its charter)
THE MARSHALL ISLANDS 001-14135 52-2098714
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation) Identification No.)
ONE STATION PLACE
STAMFORD, CT 06902
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(Address and zip code of principal executive offices)
(203) 602-6700
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(Registrant's telephone number, including area code)
NOT APPLICABLE
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
On May 5, 2000, OMI Corporation issued a press release announcing the
departure of Vincent de Sostoa, Senior Vice President and Chief Financial
Officer of OMI Corporation later in the second quarter. The full text of the
press release is set forth in Exhibit 99.1 and is incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.
(c) Exhibits
99.1 Press release of OMI Corporation dated May 5, 2000.
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SIGNATURE
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 hereunto duly authorized.
Dated: May 11, 2000
OMI CORPORATION
By: /s/ Craig H. Stevenson, Jr.
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Name: Craig H. Stevenson, Jr.
Title: Chief Executive Officer and
President
OMI CORPORATION ANNOUNCES RESIGNATION
Contact: Fredric S. London
Senior Vice President
OMI Corporation
(203) 602-6789
STAMFORD, CONNECTICUT, May 5, 2000 - OMI Corporation (the "Company")
(NYSE:OMM) today announced that Vincent J. de Sostoa, its Senior Vice President,
Treasurer and Chief Financial Officer had accepted a job offer with a start-up
technology company and would leave the Company later in the second quarter.
Craig H. Stevenson, Jr. commented "Vince has been an invaluable help to OMI
in the last decade and we will miss his professional expertise and miss him as a
colleague and friend. He has been offered an exceptional opportunity in another
industry and we wish him well."
Mr. Stevenson will assume the role of Chief Financial Officer while the
Company determines whether to replace Mr. de Sostoa from outside or within.
OMI Corporation is a major international tanker owner and operator. Its
fleet currently comprises 20 vessels, consisting of four wholly-owned Suezmax
tankers, three chartered in Suezmaxes, nine handysize product carriers, three
66,000 dwt product carriers currently carrying crude oil and one jointly-owned
vessel. One Suezmax tanker is on order for delivery in May 2000.
