FLEX LNG: PRIVATE PLACEMENT SHARES ALLOCATED

27.04.2017 08:27

http://www.newsweb.no/index.jsp?messageId=425781

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. 

Reference is made to the stock exchange release by FLEX LNG Ltd. (the “Company”) on 26 April 2017 regarding the successful placing of the private placement (the “Private Placement”) of 89,479,166 new shares in the Company (the “New Shares”). Allocation of the New Shares has been  

completed and allocation notices will be distributed today. Due to strong demand in the Private Placement, Geveran Trading Co. Ltd. (“Geveran”), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, has accepted to scale down from its pro rata share in the Private Placement to an allocation of 8,949,966 New Shares, equal to 10% of the Private Placement, to facilitate increased free float and liquidity. Following completion of the Private Placement, Geveran will accordingly own 191,131,803 shares equal to 51.95% of the shares and votes in the Company upon completion of the Private Placement. 

In light of the subscription price in the Private Placement being above the closing price on Oslo Axess on 26 April 2017, the Company has decided not to carry out a subsequent offering of shares. 

Contacts: 

Jonathan Cook, CEO  

Tel. +44 207 543 6699