Höegh LNG : Mandatory notification of trade
Hamilton, Bermuda, 4 June 2019 -
Issuance of common units in Höegh LNG Partners LP to Primary Insiders of Höegh LNG Holdings Ltd.
Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company") advises that the Board of Directors of Höegh LNG Partners LP ("HMLP") approved 4 June 2019 to issue 2,236 common units in HMLP to each of Morten W. Høegh and Andrew Jamieson, both primary insiders of the Company, as part remuneration for services rendered by them as directors of HMLP for the period from June 2018 to June 2019.
The number of common units issued constitutes a remuneration of USD 39,000 to each, based on the average closing price of the HMLP unit over the last five trading leading up to 4 June 2019 of USD 17.44
The total ownership interests in Höegh LNG and HMLP subject to disclosure requirements held by the primary insiders following the above transactions are as follows:
- Morten W. Høegh (2,236 common units in HMLP which has been transferred at the issuance price to Leif Höegh & Co. Ltd. (LHC) and will be delivered to LHC upon issuance of the common units. Please also see below).
- Andrew Jamieson (8,537 common units in HMLP and 9,733 shares in the Company).
Leif Höegh & Co. Ltd., which is indirectly controlled by Leif O. Høegh and family trusts under which Morten W. Høegh and his immediate family are primary beneficiaries, will following the transaction described above hold 441,037 common units in HMLP and 34,089,509 shares in the Company, representing 44.12% of the shares in issue in the Company.
In addition, the below Brompton Cross entities, which are co-investment vehicles for management of Höegh Capital Partners, indirectly controlled by Leif O. Høegh and by family trusts under which Morten W. Høegh and his immediate family are primary beneficiaries, hold the following ownership interest in the Company:
- Brompton Cross VIII Limited holds 28,500 shares in the Company, representing 0.04% of the shares in issue.
- Brompton Cross IX Limited holds 28,500 shares in the Company, representing 0.04% of the shares in issue.
The percentage has been calculated based on a total of 77,260,580 shares in issue in the Company.
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Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Knut Johan Arnholdt, VP IR and Strategy, Telephone +47 922 59 131
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 group employs approximately 155 office staff and 545 seafarers.