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Höegh LNG - PUBLICATION OF PROSPECTUS, LISTING OF NEW SHARES, COMMENCEMENT OF SUBSCRIPTION PERIOD IN SUBSEQUENT OFFERING

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Reference is made to the stock exchange notices from Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company", ticker "HLNG") dated 3 February 2012 and 9 February 2012, regarding the private placement of 22,641,509 new shares with gross proceeds of NOK 1,200 million (approximately USD 206 million) (the "Private Placement") and a subsequent repair offering of up to 636,552 new shares (the "Subsequent Offering").

The Company has today published a prospectus regarding (i) the listing of 22,641,509 new shares issued in connection with the Private Placement, and (ii) the Subsequent Offering to Eligible Shareholders of the Company and listing of up to 636,552 new shares with a par value of USD 0.01 each (the "Subsequent Offering Shares") to be issued in connection with the Subsequent Offering. The prospectus has been reviewed and approved by the Financial Supervisory Authority of Norway.

Existing shareholders of the Company as of 2 February 2012 (the "Record Date") (and being registered as such in the Norwegian Central Securities Depository (VPS) on the 7 February 2012 pursuant to the three days' settlement procedure), holding 40,000 shares or less as of the Record Date, who did not participate in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful, or for jurisdictions other than Norway, would require any filing, registration or similar action ("Eligible Shareholders") are invited to participate in the Subsequent Offering.

The Company has issued one non-tradable subscription right ("Subscription Right") per one Share held in the Company as of 2 February 2012 by the Eligible Shareholder. Each Subscription Right grants the owner the right to subscribe for and be allocated 0.5 of a Subsequent Offering Share. The number of Subsequent Offering Shares issued to each Eligible Shareholder will be rounded down to the nearest whole number of shares. Oversubscription and subscription without Subscription Rights is not permitted. The Subscription Rights are non-tradable and non-transferable.

The subscription price in the Subsequent Offering is NOK 53.00 per Subsequent Offering Share.

The subscription period for the Subsequent Offering commences today, 8 March at 09:00 CET, and expires on 22 March at 17:30 CET.

Subscription Rights that are not used to subscribe for Subsequent Offering Shares before the expiry of the subscription period will have no value and will lapse without compensation to the holder.

Upon completion of the Subsequent Offering, the issued share capital of the Company will be increased by up to USD 6,365.52 through issue of up to 636,552 new shares.

The Subsequent Offering is managed by DNB Markets, ABG Sundal Collier and Pareto Securities (together the "Joint Bookrunners").

Reference is made to the prospectus dated 7 March 2012 for full details on the Subsequent Offering, including further description of applicable terms. The Prospectus and Subscription Form may be obtained at the Company's office or the Joint Bookrunners' offices or web sites; www.dnb.no/emisjoner, www.abgsc.no or www.paretosec.no.

The expected time table for the Offering is as follows:

  • 8 March 2012: Commencement of subscription period and issue of Subscription Rights
  • 22 March 2012 at 17:30 CET: End of subscription period
  • On or about 23 March 2012: Allocation, distribution of allocation letters and announcement of the final result of the Subsequent Offering
  • 28 March 2012: Payment date
  • On or about 2 April 2012: Listing and first day of trading of the Subsequent Offering Shares on Oslo Børs

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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 five LNG carriers and two floating storage and regasification units (FSRUs).  In addition to transporting LNG, the FSRUs act as floating LNG import terminals delivering natural gas to the market.  Höegh LNG has three FSRUs on order at Hyundai Heavy Industries.  The company holds a significant project development portfolio for 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 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.

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This publication is not for distribution, directly or indirectly, in or into the United States, nor is it an offer for sale of or the solicitation of an offer to purchase securities in the United States. Any securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Höegh LNG Holdings Ltd. does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into the United States.

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