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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 12 May 2015 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 22 May 2014 and ending 12 May 2015. 

Each Director will receive 754 shares. The shares constitute a total remuneration of USD 10,000, based on a price per share of NOK 99.00 (the number of shares equal to the number, which could be purchased on Oslo Børs for USD 10,000 on close of business on 12 May 2015 with an exchange rate of NOK 7.4691 per US dollar (being the exchange rate quoted on the Norges Bank website 12 May 2015)).

The shares will be issued shortly. The share capital of the Company will, following the share issue, be increased by USD 37.70, from USD 698,988.27 to USD 699,025.97, when issuing 3,770 new shares. The new number of issued shares will then be 69,902,597. 

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

  • Morten W. Høegh (3,602 shares. Please also see below.)
  • Leif O. Høegh (3,602 shares. Please also see below.)
  • Guy D. Lafferty (3,602 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 (3,602 shares)
  • Ditlev Wedell-Wedellsborg (3,602 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.

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 31,174,789 shares, representing 44.60% 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 IV Limited 28,500 shares, representing 0.04% of the shares in issue.
  • Brompton Cross V Limited 28,500 shares, representing 0.04% of the shares in issue.
  • Brompton Cross VI Limited 31,916 shares, representing 0.05% of the shares in issue.
  • Brompton Cross VII Limited 40,800 shares, representing 0.06%of the shares in issue.

Aequitas Investments Limited, which is indirectly controlled by Leif O. Høegh and a family trust under which Morten W. Høegh is the primary beneficiary, holds 65,000 common units in Höegh LNG Partners LP. In addition, Aequitas Investments Limited has ownership in the Company through its ownership in Leif Höegh & Co. Ltd., Brompton Cross IV Limited, Brompton Cross V Limited, Brompton Cross VI Limited and Brompton Cross VII Limited.

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). The Company has developed low-cost solutions for floating liquefaction terminals (FLNG) and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the leading provider of floating LNG solutions and the strategy is to continue to focus its growth plans on the FSRU and the FLNG 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 and Klaipeda.  The company employs approximately 95 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 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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