FLEX LNG Ltd - Notice of allotment of new shares

16.02.2018 12:11

http://www.newsweb.no/index.jsp?messageId=444583

Hamilton, Bermuda, 16 February 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 44,130 new shares to the members of the Board of Directors for the period covering 1 July 2017 to 31 December 2017, 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 20,226 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 01/07/2017 to 31/12/2017. The shares constitute a total remuneration of USD 28,750, based on a price per share of NOK 11.23. 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 13 February 2018.

After the issue of these shares, Mr. David McManus will have a holding of 865,829 shares in the Company, representing 0.235% 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 9,146 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 01/07/2017 to 31/12/2017. The shares constitute a total remuneration of USD 13,000, based on a price per share of NOK 11.23. 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 13 February 2018.

After the issue of these shares, Mr. Marius Hermansen will have a holding of 48,077 shares in the Company, representing 0.013% 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 7,035 ordin4ary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 01/07/2017 to 31/12/2017. The shares constitute a total remuneration of USD 10,000, based on a price per share of NOK 11.23. 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 13 February 2018.

After the issue of these shares, Mr. Ola Lorentzon will have a holding of 7,985 shares in the Company, representing 0.002% 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 7,723 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the period 22/09/2017 to 31/12/2017. The shares constitute a total remuneration of USD 10,978, based on a price per share of NOK 11.23. 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 13 February 2018.

After the issue of these shares, Mr. Nikolai Grigoriev will have a holding of 7,723 shares in the Company, representing 0.002% of the total shares outstanding.

The shares will be issued and registered as soon as possible. Once issued the total shares outstanding will be 368,016,512.

For any further information, please contact:

Øystein M. Kalleklev, CFO

E-mail: ir@flexlng.com

Telephone: +47 23 11 40 58