Höegh LNG - Management stock option plan - Mandatory notification of trade
Oslo, 2 February 2012
Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company", ticker "HLNG") announces that its Board of Directors has approved a long-term management stock option plan aimed to align the interests of the senior management of Höegh LNG with those of the shareholders.
Senior management of Höegh LNG has been granted the right to acquire up to a certain maximum number of shares in the Company at a fixed strike price ("the Option"). The strike price will equal the subscription price in the contemplated private placement, and the options will vest with one third on 31 December 2013, 2014 and 2015 respectively. The options are non-tradable and conditional upon the participant being employed by the Company or its subsidiaries at the vesting date. The stock option plan is expected to constitute 735,000 options equivalent to 735,000 Höegh LNG shares.
It is the Company's intention to make equivalent option grants on a bi-annual basis. The strike price for such grants will be determined by the Board of Directors. Subsequently recruited employees may be invited to participate in the stock option programme.
The following primary insiders of the Company have been granted options under the long-term management stock option plan. The total number of shares (if any) and options held by the primary insiders and their respective close associates following the option grant is included in brackets.
Sveinung Støhle, President and CEO, 200,000 options (2,631 shares and 200,000 options)
Steffen Føreid, CFO, 70,000 options (276 shares and 70,000 options)
Stephan Tschudi-Madsen, COO, 70,000 options (2,276 shares and 70,000 options)
Vegard Hellekleiv, SVP Regas, 35,000 options (1,315 shares and 35,000 options)
Ragnar Wisløff, MD Höegh LNG Asia, 35,000 options (1,750 shares and 35,000 options)
Geirmund Aasbø, SVP Project Services, 35,000 options (1,315 shares and 35,000 options)
Jan Folkmann Wright, VP HSEQ, 17,000 options (276 shares and 17,000 options)
Lars Mårdalen, VP Finance & Corporate Planning, 17,000 options (17,000 options)
Camilla Nyhus-Møller, VP Legal, 17,000 options (17,000 options)
In addition, the primary insiders Sveinung Støhle, Steffen Føreid, Stephan Tschudi-Madsen, Vegard Hellekleiv, Ragnar Wisløff, Geirmund Aasbø, Lars Mårdalen and Camilla Nyhus-Møller have ownership interests in Höegh LNG through Methane Ventures Ltd.
About Höegh LNG:
Höegh LNG is a fully integrated floating LNG services company with almost 40 years of experience, offering long-term floating production, transportation, regasification and terminal solutions for the liquefied natural gas (LNG) market.
The Company operates a fleet of five LNG marine transportation vessels and two shuttle and regasification vessels (SRVs). In addition to transporting LNG, the SRVs act as floating regasification terminals delivering natural gas to the market. The Company has ordered two floating storage and regasification vessels (FSRUs) at Hyundai Heavy Industries. The Company holds a significant project development portfolio for both 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 CEO +47 975 57 402
Steffen Føreid, CFO + 47 975 57 406
Arild Jæger, 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.