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

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Hamilton, Bermuda, 3 December, 2018 - Reference is made to the stock exchange notice by Höegh LNG Holdings Ltd. ("Höegh LNG") dated 6 June 2016 regarding the award of 53,568 phantom units in Höegh LNG Partners LP ("HMLP") by Höegh LNG to senior management and key employees of Höegh LNG AS. On 30 November 2018, 17,856 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 6 June 2016 regarding the award of 21,500 phantom units by the board of directors of HMLP to Richard Tyrrell. On 30 November 2018, 7,167 of the phantom units vested, making 8,941 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 20,046,139.

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, will receive cash settlement upon vesting of 6,999 phantom units. After the transactions, he holds 137,738 shares and 635,250 options in Höegh LNG and 15,915 common units and 22,558 phantom units in HMLP.
  • Steffen Føreid, CFO, will receive cash settlement upon vesting of 3,066 phantom units. After the transaction, he holds 21,805 shares and 264,100 options in Höegh LNG and 11,073 common units and 10,090 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 278,800 options in Höegh LNG and 1,514 common units and 5,334 phantom units in HMLP. In addition, he owns 23,934 shares in Höegh LNG and 5,178 common units in HMLP 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 23,364 shares and 278,800 options in Höegh LNG and 5,334 phantom units in HMLP.
  • Tom Solberg, COS, will receive cash settlement after vesting of 1,333 phantom units. After the transaction, he holds 178,800 options in Höegh LNG and 5,334 phantom units in HMLP.
  • Camilla Nyhus-Møller, Chief Legal & Compliance Officer, will receive cash settlement after vesting of 1,375 phantom units. After the transaction, she holds 66,600 options in Höegh LNG and 2,630 phantom units in HMLP.
  • Richard Tyrrell, Chief Development Officer, will receive 8,941 common units in HMLP after adjusting for dividend distributions from HMLP upon vesting of 7,166 phantom units. After the transaction, he holds 9,215 shares and 91,067 options in Höegh LNG and 8,941 common units and 21,751 phantom units in HMLP. In addition, Rachel Brask-Tyrrell, related party of Richard Tyrrell, owns 4,126 common 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, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 155 office staff and 525 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 
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.

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