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Höegh LNG : Share issue following settlement of Round 1 of Management Stock Option Plan

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Hamilton, Bermuda, 5 January 2017 - Reference is made to Höegh LNG Holdings Ltd.'s ("Höegh LNG" or the "Company") stock exchange notice dated 2 January 2017 where the Company informed about the settlement of Round 1 of the Management Stock Option Plan which expired 31 December 2016 (Exercise of options).

1. Share issue

On 31 December 2016, Round 1 of the Management Stock Option Plan expired and remaining 663,340 options granted in this round was exercised together with 13,333 options granted in Round 2. 

The Company has resolved to settle part of the exercised options by way of withholding shares with a market value equivalent to the strike price. On 4 January 2017, the Company issued 352,401 new common shares at par value to the option holders as settlement of options exercised.

Following the issuance of the new shares, the issued share capital of Höegh LNG is USD 772,364.60 consisting of 77,236,460 fully paid common shares, each with a par value of USD 0.01.

2. Issuance of shares to primary insiders

Of the shares issued as set out in item 1 above, primary insiders received the following number of shares:

  • Sveinung J. S. Støhle, President & CEO: 104,792 shares
  • Steffen Føreid, CFO: 36,677 shares
  • Ragnar Wisløff, CCO: 36,677 shares
  • Vegard Hellekleiv, CTO: 36,677 shares
  • Stephan Tschudi-Madsen, Senior Executive Officer: 36,677 shares
  • Camilla Nyhus-Møller, SVP Legal & Compliance: 2,970 shares

3. New holding

The total ownership interests subject to disclosure requirements held by the primary insiders following the above transactions are as follows:

  • Sveinung J. S. Støhle, President & CEO: 122,738 shares and 423,000 options in Höegh LNG. In addition, Støhle owns 6,007 common units and 20,996 Phantom Units in Höegh LNG Partners LP ("HMLP")
  • Steffen Føreid, CFO: 37,091 shares and 179,200 options in Höegh LNG. In addition, Føreid owns 5,630 common units and 9,198 Phantom Units in HMLP.
  • Ragnar Wisløff, CCO: 39,302 shares and 165,600 options in Höegh LNG. In addition, Wisløff owns 4,280 common units and 4,000 Phantom Units in HMLP.
  • Vegard Hellekleiv, CTO: 38,649 shares and 165,600 options in Höegh LNG. In addition, Hellekleiv has been granted 4,000 Phantom Units in HMLP.
  • Stephan Tschudi-Madsen, Senior Executive Officer: 38,953 shares and 100,000 options in Höegh LNG and 5,000 common units in HMLP
  • Camilla Nyhus-Møller, SVP Legal & Compliance: 2,970 shares and 45,375 options in Höegh LNG and 4,124 Phantom Units in HMLP.

In addition, Sveinung J. S. Støhle, Steffen Føreid, Ragnar Wisløff, Vegard Hellekleiv and Stephan Tschudi-Madsen have ownership interests in Höegh LNG through Methane Ventures Limited.

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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), 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 growth plans on the FSRU 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 Norway, Singapore, the UK, USA, Indonesia, Lithuania, Egypt and Colombia. The company employs approximately 110 office staff and 500 seafarers.

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406

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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