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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 2014 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 23 May 2013 and ending 22 May 2014. 
Each Director will receive 962 shares. The shares constitute a total remuneration of USD 10,000, based on a price per share of NOK 61.75 (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 2014 with an exchange rate of NOK 5.9409 per US dollar (being the exchange rate quoted on the Norges Bank website 22 May 2014)).
The shares will be issued shortly. The share capital of the Company will, following the share issue, be increased by USD 57.72, from USD 698,930.55 to USD 698,988.27, when issuing 5,772 new shares. The new number of issued shares will then be 69,898,827.
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)
  • Jon Erik Reinhardsen (24,932 shares)
  • Ditlev Wedell-Wedellsborg (3,602 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 four floating storage and regasification units (FSRUs) that act as floating LNG import terminals, and four LNG transportation vessels. In addition, Höegh LNG has two 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, Tampa and Jakarta.  The company employs approximately 95 office staff and 350 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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