Höegh LNG : Management stock option plan - Exercise of options and share issue
Reference is made to Höegh LNG Holdings Ltd.'s ("Höegh LNG" or the "Company") stock exchange notices where the Company announced its Stock Option Program for senior management and key employees dated 2 February 2012 (Round 1) and 4 February 2014 (Round 2).
One option holder has exercised 11,332 options with a strike price of NOK 50.56 (adjusted for dividends in accordance with the stock option agreement) granted to the option holder in Round 1. The Company has resolved to settle the value of the exercised options in kind by the issuance of 6,639 new shares at par value to the option holder.
Following the issuance of the new shares, the issued share capital of Höegh LNG will be USD 768,292.36 consisting of 76,829,236 fully paid common shares, each with a par value of USD 0.01.
As per 20 October 2015, a total of 703,012 options are outstanding in Round 1 and 1,384,000 options in Round 2.
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About Höegh LNG:
Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs). The Company has developed low-cost solutions for floating liquefaction terminals (FLNG) 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 and the strategy is to continue to focus its growth plans on the FSRU and the FLNG market, with the objective of securing long-term contracts with strong counterparts at attractive returns. Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London, Miami, Jakarta, Klaipeda and Cairo. The company employs approximately 100 office staff and 500 seafarers
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