Hamilton, Bermuda 21 June 2017 - Reference is made to the stock exchange notice dated 23 May 2017 and the Annual General Meeting of Höegh LNG Holdings Ltd. (the "Company) held 23 May 2017 and a subsequent Board Meeting approving the issuance of shares to each of the below listed directors (the "Directors") of the Company as part remuneration for services rendered by them for the period commencing 26 May 2016 and ending 23 May 2017.
Each Director received 1,381 shares on 21 June 2017 and a total of 8,286 new shares were issued. The shares constitute a total remuneration of USD 90,000 based on the closing price of NOK 90.75 of the Company's shares on 23 May 2017 and an exchange rate of NOK 8.3602 per US Dollar, which is the exchange rate quoted on the Norges Bank website at 23 May 2017.
The new number of issued shares in the Company following the share issue is 77,244,746 and the new share capital is USD 772,447.46.
The following Directors have received shares (the number of shares held by the respective Director after the share issue is included in brackets):
- Morten W. Høegh (1,381 shares. Please also see below).
- Leif O. Høegh (1,381 shares. Please also see below).
- Andrew Jamieson (7,094 shares).
- Ditlev Wedell-Wedellsborg (7,094 shares. In addition, Ditlev Wedell-Wedellsborg owns 11,800 shares in the Company through Niki Invest Aps.) and 16,210 common units in Höegh LNG Partners LP through DWW Landbrug Aps.
- Chris Finlayson (2,738 shares).
- Jørgen Kildahl (2,285 shares).
Disclosing regarding Morten W. Høegh and Leif O. Høegh - mandatory notification of trade
Immediately following the share issue, each of Morten W. Høegh and Leif O. Høegh transferred the above mentioned shares to Leif Höegh & Co. Ltd. (LHC), which is indirectly controlled by Leif O. Høegh and family trusts under which Morten W. Høegh is the primary beneficiary for a price of NOK 81 per share.
Also, Morten W. Høegh transferred 1,961 common units received as part remuneration for his services as director of Höegh LNG Partners LP (HMLP) to LHC 21 June 2017 at a price of USD 18.75 per common unit.
In addition, Brompton Cross VI Limited, a primary insider in the Company (see further below), transferred 21 June 2017 its holdings in the Company and HMLP to LHC. Brompton Cross VI Limited transferred 31,916 shares in the Company at a price of NOK 81 per share and 20,000 common units in HMLP at a price of USD 18.75 per common unit.
Following the above transactions, Morten W. Høegh and Leif O. Høegh hold no common shares in the Company personally and Morten W. Høegh holds no common units in HMLP personally.
Leif Höegh & Co. Ltd. holds a total of 31,979,953 shares, representing 41.4% of the shares in the Company and 311,591 common units in HMLP.
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 is a primary beneficiary, hold the following ownership interests in the Company and HMLP, as applicable:
- Brompton Cross VII Limited holds 40,800 shares in the Company, representing 0.05%of the shares in issue, and 25,000 common units in HMLP.
- 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 77,244,746 shares in issue.
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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 its growth plans in the FSRU market, with the objective of securing long-term contracts with strong counterparties at attractive returns. 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 company employs approximately 115 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 Erik Folkeson, Head of IR, Telephone +47 414 21 769
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.
