Höegh LNG : Employee benefit plans - Additional awards - Mandatory notification of trade
Hamilton, Bermuda, 21 March 2019 - Höegh LNG Holdings Ltd. (the "company") has in place two employee benefits plans for senior management and key employees in the Höegh LNG group; (i) the biennial award of stock options in the company (the "stock option program") and (ii) the biennial award of phantom units in Höegh LNG Partners LP ("HMLP") (the "phantom unit program").
Reference is made to the stock exchange notice dated 23 March 2018 were the stock option program round 4 and the phantom unit program round 2 were announced and the stock exchange notice dated 3 December 2018 were the new CFO of Höegh LNG AS, Håvard Furu, was announced.
As further set out below, the board of directors of the company (the "HLNGH board") has approved additional awards under both programs to the new CFO of Höegh LNG AS and the board of directors of HMLP (the "HMLP board") has approved new awards of phantom units to the new CEO/CFO of HMLP.
Stock option program round 4
The HLNGH Board has approved the award of 50,940 stock options in the company in the round 4 stock option program to Håvard Furu at the same terms as set out in the stock exchange notice dated 23 March 2018.
After the issuance of the above stock options, the total number of stock options outstanding in the company is 2,059,689.
Phantom unit program round 2
The HLNGH board has approved the total award of 3,954 phantom units in HMLP in the round 2 phantom unit program to Håvard Furu.
In addition, the HMLP board has approved the total award of additional 10,917 phantom units to the new CEO/CFO of HMLP, Steffen Føreid.
Both awards are on the same terms as set out in the stock exchange notice dated 23 March 2018.
Disclosure of number of stock options and phantom units and total ownership interests in the company and HMLP following above awards
Following the awards as set out above, the total ownership interests subject to disclosure requirements held by the said primary insiders are as follows:
- Håvard Furu, CFO: 50,940 stock options in the company and 3,954 phantom units in HMLP
- Steffen Føreid, CEO/CFO of HMLP: 30,189 shares and 134,100 options in the company and 11,073 common units and 21,007 phantom units in HMLP
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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, the Philippines, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 155 office staff and 545 seafarers.
Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Erik Folkeson, VP IR and Strategy, Telephone +47 414 21 769
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.