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Höegh LNG : Issuance of shares to Directors as part remuneration

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Reference is made to the stock exchange notice dated 26 May 2016 and the Annual General Meeting of Höegh LNG Holdings Ltd. (the "Company) held 26 May 2016 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 12 May 2015 (and 15 September 2015 in the case of Jørgen Kildahl) and ending 26 May 2016. 
Each Director received 1,357 shares on 8 June 2016, save for Jørgen Kildahl who received 904 shares, and a total of 7,689 new shares have been issued. The 7,689 share issue constitute a total remuneration of USD 85,000 based on the closing price of NOK 91.50 of the Company's shares on 26 May 2016 and an exchange rate of NOK 8.2799 per US Dollar, which was the exchange rate quoted on the Norges Bank website at 26 May 2016.
The new number of issued shares in the Company following the share issue is 76,884,059 and the new share capital is USD 768,840.59. 
The following Directors have received shares (the number of shares held by the respective Director after the share issue is included in brackets):

  • Morten W. Høegh (5,713 shares and 2,130 common units in Höegh LNG Partners LP. Please also see below)
  • Leif O. Høegh (5,713 shares. Please also see below)
  • Andrew Jamieson (5,713 shares and 2,130 common units in Höegh LNG Partners LP)
  • Ditlev Wedell-Wedellsborg (5,713 shares. In addition, Ditlev Wedell-Wedellsborg owns 11,800 shares in the Company through Niki Invest Aps. and 16,210 common units in Höegh LNG Partners LP through DWW Landbrug Aps.)
  • Chris Finlayson (1,357 shares)
  • Jørgen Kildahl (904 shares)

Disclosing regarding Morten W. Høegh and Leif O. Høegh 
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 31,933,849 shares, representing 41.54% of the shares in the Company and 287,500 common units in Höegh LNG Partners LP.
In addition, the following co-investment vehicles for management of Höegh Capital Partners, indirectly controlled by Leif O. Høegh and a family trust under which Morten W. Høegh is a primary beneficiary, holds shares in the Company as follows: 

  • Brompton Cross V Limited holds 28,500 shares, representing 0.04% of the shares in issue.
  • Brompton Cross VI Limited holds 31,916 shares, representing 0.04% of the shares in issue and 20,000 common units in HMLP. 
  • Brompton Cross VII Limited holds 40,800 shares, representing 0.05%of the shares in issue and 25,000 common units in HMLP.
  • Brompton Cross VIII Limited holds 28,500 shares, representing 0.04% of the shares in issue.

The percentage has been calculated based on a total of 76,884,059 shares in issue.

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About Höegh LNG:

Höegh LNG provides floating energy solutions and 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 and the strategy is to continue to focus growth plans on the FSRU market, with the objective of securing long-term contracts with strong counterparts at attractive returns. Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London, Miami, Jakarta, Klaipeda and Cairo. The company employs approximately 110 office staff and 500 seafarers

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
Birgitte Hjertum, VP Strategy, Communication and Investor Relations, Telephone +47 975 57 432

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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