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Höegh LNG - Approval of issuing of shares to Directors as part remuneration

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Reference is made to the Annual General Meeting of Höegh LNG Holdings Ltd. (the "Company") held 22 May 2013 and a subsequent Board Meeting approving the issuance 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 commencing 1 January 2012 and ending on 22 May 2013.

Each Director will receive 1,256 shares. The shares constitute a total remuneration of USD 10,000, based on a price per share of NOK 46.00 (the number of shares equal to the number which could be purchased on Oslo Børs for USD 10,000 on close of business on 22 May 2013 with an exchange rate of NOK 5.78 per US dollar (being the exchange rate quoted on the Norges Bank website 22 May 2013)).

The shares will be issued shortly. The share capital of the Company will following the share issue be increased by USD 75.36, from USD 698,855.19 to USD 698,930.55, when issuing 7,536 new shares.  The new number of issued shares will then be 69,893,055.

The following Directors will receive shares (the number of shares held by the respective Director after the share issue are included in brackets):

  • Morten W. Høegh (2,640 shares. Please also see below.)
  • Leif O. Høegh (2,640 shares. Please also see below.)
  • Guy D. Lafferty (2,640 shares. In addition, Interstellar Enterprises Limited, a trust where Guy D. Lafferty is the principal beneficiary, owns 67,060 shares in the Company.)
  • Andrew Jamieson (2,640 shares) 
  • Jon Erik Reinhardsen (23,970 shares) 
  • Ditlev Wedell-Wedellsborg (2,640 shares. In addition, Ditlev Wedell-Wedellsborg owns 8,800 shares in the Company through Niki Invest Aps)


Leif Höegh & Co. Ltd., which is indirectly controlled by Leif O. Høegh and a family trust under which Morten W. Høegh is the primary beneficiary, holds a total of 31,027,210 shares, representing 44.4% of the shares in the Company.


About Höegh LNG

Höegh LNG is a provider of floating LNG infrastructure services, offering regasification, transportation and production services under long-term contracts.  The company operates a fleet of six LNG transportation vessels and two floating storage and regasification units (FSRUs). In addition, Höegh LNG has four new FSRUs on order and has developed a solution for floating LNG production (FLNG).  Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London and Tampa.  The Company employs about 80 office staff and about 350 sea farers.

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
Arild Jæger, Investor Relations, Telephone +47 975 57 408

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.

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