FLEX LNG Ltd - Notice of allotment of new shares

07.09.2018 08:50

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Hamilton, Bermuda, 6 September 2018.

FLEX LNG Ltd (Oslo Børs: FLNG) announce that in accordance with the resolution by the shareholders at the annual shareholders meeting (ASM) of FLEX LNG Ltd (“FLEX LNG” or the “Company”) held on 22 September 2017, the Board of Directors of FLEX LNG has resolved to issue 43,828 new shares to the members of the Board of Directors for the period covering 1 Januray 2018 to 30 June 2018, as part of their remuneration for that period.

The following allotment has been agreed:

David McManus

This is to inform that Mr. David McManus, Chairman of the Board of FLEX LNG Ltd, has been allotted 16,857 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 01/01/2018 to 30/06/2018. The shares constitute a total remuneration of USD 25,000, based on a price per share of NOK 12.08. The price per share is calculated on the basis of the volume weighted average trading price of the Company’s shares over a period of ten consecutive trading days ending on the day of the cash remuneration settlement, being 14 July 2018.

After the issue of these shares, Mr. David McManus will have a holding of 882,686 shares in the Company, representing 0.240% of the total shares outstanding.

Marius Hermansen

This is to inform that Mr. Marius Hermansen, a board member of FLEX LNG Ltd, has today been allotted 6,743 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 01/01/2018 to 30/06/2018. The shares constitute a total remuneration of USD 10,000, based on a price per share of NOK 12.08. The price per share is calculated on the basis of the volume weighted average trading price of the Company’s shares over a period of ten consecutive trading days ending on the day of the cash remuneration settlement, being 14 July 2018.

After the issue of these shares, Mr. Marius Hermansen will have a holding of 54,826 shares in the Company, representing 0.015% of the total shares outstanding.

Ola Lorentzon

This is to inform that Mr. Ola Lorentzon, a board member of FLEX LNG Ltd, has been allotted 6,743 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 01/01/2018 to 30/06/2018. The shares constitute a total remuneration of USD 10,000, based on a price per share of NOK 12.08. The price per share is calculated on the basis of the volume weighted average trading price of the Company’s shares over a period of ten consecutive trading days ending on the day of the cash remuneration settlement, being 14 July 2018.

After the issue of these shares, Mr. Ola Lorentzon will have a holding of 14,728 shares in the Company, representing 0.004% of the total shares outstanding.

Nikolai Grigoriev

This is to inform that Mr. Nikolai Grigoriev, a board member of FLEX LNG Ltd, has been allotted 13,485 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 01/01/2018 to 30/06/2018. The shares constitute a total remuneration of USD 20,000, based on a price per share of NOK 12.08. The price per share is calculated on the basis of the volume weighted average trading price of the Company’s shares over a period of ten consecutive trading days ending on the day of the cash remuneration settlement, being 14 July 2018.

After the issue of these shares, Mr. Nikolai Grigoriev will have a holding of 46,208 shares in the Company, representing 0.0126% of the total shares outstanding.

The shares will be issued and registered as soon as possible. Once issued the total shares outstanding will be 368,060,340.  

For any further information, please contact:

Øystein M. Kalleklev, CEO

E-mail: ir@flexlng.com

Telephone: +47 23 11 40 58