TransMontaigne Oil files registration statement relating to proposed public offering of its common stock

Business Wire, Dec 26, 1996

DENVER--(BUSINESS WIRE)--Dec. 26, 1996--TransMontaigne Oil Co. (ASE:TMG) announced the filing on Tuesday, Dec. 24, 1996, of a registration statement on Form S-2 with the Securities and Exchange Commission relating to the proposed public offering of 4.35 million shares of its common stock, which includes 600,000 shares being offered in a non-underwritten offering to an institutional investor pursuant to certain antidilution rights and 350,000 shares offered by certain selling stockholders.

The underwritten offering will be managed by Dillon, Read & Co. Inc., A.G. Edwards & Sons Inc. and Petrie Parkman & Co. If the underwriters' over-allotment option is exercised in full, TransMontaigne will sell an additional 562,500 shares of common stock.

The net proceeds to TransMontaigne from the offering will be used to repay bank debt and for general corporate purposes.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the preliminary prospectus, when available, may be obtained by contacting: Dillon, Read & Co. Inc., 535 Madison Ave., New York, N.Y. 10022; A.G. Edwards & Sons Inc., One North Jefferson Ave., St. Louis, Mo. 63103; or Petrie Parkman & Co., 475 17th St., Suite 1100, Denver, Colo. 80202.

CONTACT: TransMontaigne Oil Co., Denver

Richard E. Gathright or Harold L. Logan Jr.,

303/626-8200