Höegh LNG : Mandatory Notification of Trade
Reference is made to the stock exchange notice issued by Höegh LNG Holdings Ltd. ("Höegh LNG") today 10 September 2015 regarding Höegh LNG's completion of a NOK 844 million (USD ~100 million equivalent) private placement (the "Private Placement").
Leif Höegh & Co. Ltd. ("LHC"), which is represented on the board of directors of Höegh LNG due to its ownership stake by Morten W. Høegh (Chairman) and Leif O. Høegh (Deputy Chairman), advises that LHC was allocated 692,000 shares in the Private Placement at a subscription price of NOK 122 per share.
Following the transaction, LHC 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 31,866,789 shares, representing 41.48% of the shares in Höegh LNG and 287,500 common units in Höegh LNG Partners LP. In addition, Leif O. Høegh and Morten W. Høegh each holds 4,356 shares in Höegh LNG personally.
Further, the following Brompton Cross co-investment vehicles, which are co-investment vehicles for management of Höegh Capital Partners, indirectly controlled by Leif O. Høegh and a family trust under which Morten W. Høegh is a primary beneficiary, hold the following number of shares in Höegh LNG:
- Brompton Cross V Limited holds 28,500 shares, representing 0.04% of the shares in issue.
- Brompton Cross VI Limited holds 31,916 shares, representing 0.04% of the shares in issue.
- Brompton Cross VII Limited holds 40,800 shares, representing 0.05%of the shares in issue.
- Brompton Cross VIII Limited holds 28,500 shares, representing 0.04% of the shares in issue.
Aequitas Investments Limited, which is indirectly controlled by Leif O. Høegh and a family trust under which Morten W. Høegh is the primary beneficiary, holds 65,000 common units in Höegh LNG Partners LP. In addition, Aequitas Investments Limited has ownership in Höegh LNG through its ownership in Leif Höegh & Co
. Ltd., Brompton Cross V Limited, Brompton Cross VI Limited, Brompton Cross VI Limited, Brompton Cross VII Limited and Brompton Cross VIII Limited.
The percentages have been calculated based on a total of 76,822,597 shares in issue.
This information is subject to disclosure requirements pursuant to Section 4-2 of the Norwegian Securities Trading Act.
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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