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Höegh LNG : Approval of delivery of shares to Directors as part remuneration

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Hamilton, Bermuda, 4 June 2020 -  Reference is made to the Annual General Meeting of Höegh LNG Holdings Ltd. (the "Company”) held 5 June 2019 and a Board Meeting held on 4 June 2020 approving the delivery of shares to each of the below listed directors (the "Directors") of the Company as part remuneration for services rendered by them for the period June 2019 to June 2020.

Each Director will receive 11,822 shares and a total of 47,288 shares will be allocated from shares held by the Company. The shares constitute a total remuneration of USD 60,000 based on the closing price of NOK 11.96 of the Company's shares on 4 June 2020 and an exchange rate of NOK 9.4265 per US Dollar, which is the exchange rate quoted on the Norges Bank website at 4 June 2020. The number of shares held by the Company will be 1,009,265 following the allocation.

The following Directors will receive shares (the number of shares held by the respective Director following the delivery of the shares is included in parenthesis):

  • Andrew Jamieson (25,562 shares and 8,537 common units in Höegh LNG Partners LP (HMLP)).
  • Ditlev Wedell-Wedellsborg (25,562 shares. In addition, Ditlev Wedell- Wedellsborg owns 15,242 shares in the Company through Niki Invest Aps. and 16,210 common units in HMLP through DWW Landbrug Aps.).
  • Chris Finlayson (21,206 shares).
  • Jørgen Kildahl (20,753 shares).
 

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Contacts: 

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402 
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Knut Johan Arnholdt, VP IR and Strategy, Telephone +47 922 59 131

About Höegh LNG: 

Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP (NYSE:HMLP). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 175 office staff and 600 seafarers.

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