Hamilton, Bermuda, 2 January 2017 - Reference is made to Höegh LNG Holdings Ltd.'s ("Höegh LNG" or the "Company") stock exchange notices where the Company announced its Stock Option Plan for senior management and key employees dated 2 February 2012 (Round 1), 4 February 2014 (Round 2) and 1 February 2016 (Round 3).
1. Exercise of stock options
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 options had a strike price of NOK 46.3 and NOK 40.3, respectively. The strike prices have been adjusted for dividend distributions since the award of the options. After the exercise of the above options, the total number of options outstanding is 1,972,675.
The Company has resolved to settle the exercise of the above options by way of delivering shares. The Company will submit a new stock exchange notice when the shares have been issued.
2. Options exercised by primary insiders
- Sveinung J. S. Støhle, President & CEO: 200,000 options
- Steffen Føreid, CFO: 70,000 options
- Ragnar Wisløff, CCO: 70,000 options
- Vegard Hellekleiv, CTO: 70,000 options
- Stephan Tschudi-Madsen, Senior Executive Officer: 70,000 options
- Camilla Nyhus-Møller, SVP Legal & Compliance: 5,668 options
3. New holding
The total ownership interests subject to disclosure requirements held by the primary insiders following the above transactions will be as follows:
- Sveinung J. S. Støhle, President & CEO: 17,946 shares and 623,000 options (of which 200,000 have been exercised) 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: 414 shares and 249,200 options (of which 70,000 have been exercised) in Höegh LNG. In addition, Føreid owns 5,630 common units and 9,198 Phantom Units in HMLP.
- Ragnar Wisløff, CCO: 2,625 shares and 235,600 options (of which 70,000 have been exercised) in Höegh LNG. In addition, Wisløff owns 4,280 common units and 4,000 Phantom Units in HMLP.
- Vegard Hellekleiv, CTO: 1,972 shares and 235,600 options (of which 70,000 have been exercised) in Höegh LNG. In addition, Hellekleiv has been granted 4,000 Phantom Units in HMLP.
- Stephan Tschudi-Madsen, Senior Executive Officer: 2,276 shares and 170,000 options (of which 70,000 have been exercised) in Höegh LNG and 5,000 common units in HMLP.
- Camilla Nyhus-Møller, SVP Legal & Compliance: 51,043 options (of which 5,668 have been exercised) 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
