Höegh LNG - Completion of subsequent offering and increase in share capital
Reference is made to the stock exchange notice dated 8 March 2012 regarding publication of prospectus and commencement of the subscription period under the Subsequent Offering of up to 636,552 Subsequent Offering Shares in Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company", ticker "HLNG") at a subscription price of NOK 53.00.
The subscription period under the Subsequent Offering expired on 22 March 2012 at 17.30 CET. Based on the number of subscriptions received under the Subsequent Offering, a committee of the Board of Directors of the Company has today resolved to implement the Subsequent Offering and to issue 226,536 new shares at NOK 53.00 per share, raising gross proceeds of approximately NOK 12.0 million, subscribed for in the Subsequent Offering, thereby increasing the Company's issued share capital by USD 2,265.36 to USD 698,772.15 consisting of 69,877,215 fully paid common shares, each with a nominal value of USD 0.01.
All new shares offered were subscribed for by Eligible Shareholders holding Subscription Rights.
Payment for the Subsequent Offering Shares falls due on 28 March 2012 and delivery will take place on or about 2 April 2012. Following issue of the Subsequent Offering Shares, the total number of issued shares in the Company will increase by 226,536 from 69,650,679 to 69,877,215 shares.
The new shares may not be transferred or traded before they are issued fully paid and registered in the share register of the Company held in the VPS, expected to be on or about 30 March 2012. The shares will be listed and tradable on the Oslo Stock Exchange when registered on the subscribers' VPS accounts. It is expected that admission to trading and listing will take place on or about 2 April 2012.
The offering is managed by DNB Markets, ABG Sundal Collier and Pareto Securities (together the "Joint Bookrunners").
About Höegh LNG
The company operates a fleet of five LNG carriers and two floating storage and regasification units (FSRUs). In addition to transporting LNG, the FSRUs act as floating LNG import terminals delivering natural gas to the market. Höegh LNG has three FSRUs on order at Hyundai Heavy Industries. The company holds a significant project development portfolio for floating regasification as well as floating LNG production (FLNG).
Headquartered in Oslo, Norway, Höegh LNG has established presence in Singapore, London and Florida. In total the Company employs about 70 office staff and about 350 sea farers.
Contacts:
Sveinung Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
Arild Jæger, Head of 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.