Höegh LNG: Employee benefit plans – New award – Mandatory notification of trade
Hamilton, Bermuda, 26 March 2020 - Höegh LNG Holdings Ltd. (the "company") has in place two employee benefits plans for senior management and key employees in the Höegh LNG group; (i) the biennial award of stock options in the company (the "stock option program") and (ii) the biennial award of phantom units in Höegh LNG Partners LP ("HMLP") (the "phantom unit program").
Reference is made to the stock exchange notice dated 27 January 2020 were the stock option program round 5 and the phantom unit program round 3 were announced.
As further set out below, the board of directors of HMLP (the "HMLP board") has approved new award of phantom units to the CEO/CFO of HMLP.
Phantom unit program round 3
The HMLP board has approved the total award of additional 8,100 phantom units to the CEO/CFO of HMLP, Steffen Føreid.
The award is on the same terms as set out in the stock exchange notice dated 27 January 2020.
Disclosure of number of stock options and phantom units and total ownership interests in the company and HMLP following above award
Following the award as set out above, the total ownership interests subject to disclosure requirements held by Steffen Føreid, the CEO/CFO of HMLP are 30,189 shares and 144,725 options in the company and 15,022 common units and 20,061 phantom units in HMLP
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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, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 175 office staff and 600 seafarers.