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Höegh LNG: HMLP phantom unit vesting - mandatory notification of trade

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Hamilton, Bermuda, 1 December, 2020 - Reference is made to the stock exchange notices by Höegh LNG Holdings Ltd. ("Höegh LNG") dated 23 March 2018 and 21 March 2019 regarding the award of 47,806 phantom units in Höegh LNG Partners LP ("HMLP") by Höegh LNG to senior management and key employees of Höegh LNG AS. On 30 November 2020, 13,465 of the phantom units vested, all of which will be settled in cash.

Reference is further made to the stock exchange notice by Höegh LNG dated 23 March 2018 regarding the award of 14,584 phantom units by the board of directors of HMLP to Richard Tyrrell. On 30 November 2020, 4,861 of the phantom units vested, making 6,627 common units in HMLP eligible for delivery after adjusting for dividend distributions from HMLP since the time of award. The vesting will be settled through the delivery of newly issued common units.

Following the issue, the total number of common units in HMLP will be 33,308,439.

The following primary insiders of Höegh LNG will receive cash settlement or common units in HMLP as further detailed below in connection with the vesting of the phantom units:

  • Sveinung J. S. Støhle, President & CEO of Höegh LNG and CEO of HMLP, will receive cash settlement upon vesting of 5,186 phantom units. After the transactions, he holds 199,392 shares and 494,625 options in Höegh LNG and 15,915 common units and 14,827 phantom units in HMLP.
  • Håvard Furu, CFO of Höegh LNG and CFO of HMLP, will receive cash settlement after vesting of 1,318 phantom units. After the transaction, he holds 114,690 options in Höegh LNG and 5,774 phantom units in HMLP.
  • Ragnar Wisløff, Head of Change and Transformation, will receive cash settlement upon vesting of 1,333 phantom units. After the transaction, he holds 263,800 options in Höegh LNG and 4,334 phantom units in HMLP. In addition, he owns 23,934 shares in Höegh LNG through his wholly owned company Fri Agenda AS.
  • Vegard Hellekleiv, COO, will receive cash settlement after vesting of 1,333 phantom units. After the transaction, he holds 35,582 shares and 263,800 options in Höegh LNG and 4,334 phantom units in HMLP.
  • Tom Solberg, COS, will receive cash settlement after vesting of 1,333 phantom units. After the transaction, he holds 263,800 options in Höegh LNG and 4,334 phantom units in HMLP.
  • Camilla Nyhus-Møller, Chief Legal & Compliance Officer, will receive cash settlement after vesting of 418 phantom units. After the transaction, she holds 3,665 shares and 100,350 options in Höegh LNG and 4,876 phantom units in HMLP.
  • Richard Tyrrell, Chief Development Officer, will receive 6,627 common units in HMLP after adjusting for dividend distributions from HMLP upon vesting of 4,861 phantom units. After the transaction, he holds 21,715 shares and 109,400 options in Höegh LNG and 6,627 common units and 7,862 phantom units in HMLP.
  • Øivin Iversen, CTO, will receive cash settlement after vesting of 1,333 phantom units. After the transaction, he holds 6,464 shares and 263,800 options in Höegh LNG and 4,334 phantom units in HMLP.

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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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