Höegh LNG - Issuing of shares to Directors as part remuneration
Reference is made to the Annual General Meeting of Höegh LNG Holdings Ltd. (the "Company") held 23 May 2012 and a subsequent Board Meeting held the same day, 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 calendar year ending 31 December 2011.
Each Director received yesterday 1,384 shares. The shares constitute a total remuneration of USD 10,000, based on a price per share of NOK 43.20 (the number of shares equal to the number which could be purchased on Oslo Børs for USD 10,000 on close of business on 23 May 2012 with an exchange rate of NOK 5.9823 per US dollar (being the exchange rate quoted on the Norges Bank website 23 May 2012)).
The share capital of the Company is by this increased by USD 83.04, from USD 698,772.15 to USD 698,855.19, by issuing 8,304 new shares. The new number of issued shares is 69,885,519.
The following Directors received shares (the number of shares held by the respective Director after the share issue are included in brackets):
- Morten W. Høegh (1,384 shares. Please also see below.)
- Leif O. Høegh (1,384 shares. Please also see below.)
- Guy D. Lafferty (1,384 shares. In addition, he holds as primary beneficiary of a family trust which ultimately holds 67,060 shares in the Company.)
- Andrew Jamieson (1,384 shares)
- Jon Erik Reinhardsen (22,174 shares)
- Ditlev Wedell-Wedellsborg (1,384 shares)
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% of the shares in the Company.
About Höegh LNG
Höegh LNG is a fully integrated floating LNG services company with almost 40 years experience, offering long-term floating production, transportation, regasification and terminal solutions for the liquefied natural gas (LNG) market.
The Company operates a fleet of six LNG carriers and two floating storage and regasification units (FSRUs). In addition Höegh LNG has three FSRUs under construction at Hyundai Heavy Industries. The Company holds a significant project development portfolio for floating regasification as well as floating LNG production (FLNG).
Höegh LNG is a Bermuda company, which has also established presence in Oslo, Singapore, London and Tampa. In total the Company employs about 80 office staff and about 350 sea farers.
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
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.