Hamilton, Bermuda, 6 June 2018 - Reference is made to the Annual General Meeting of Höegh LNG Holdings Ltd. (the "Company) held 6 June 2018 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 May 2017 to June 2018.
Each Director will receive 2,639 shares and a total of 15,834 new shares will be issued. The shares constitute a total remuneration of USD 90,000 based on the closing price of NOK 46.00 of the Company's shares on 6 June 2018 and an exchange rate of NOK 8.0950 per US Dollar, which is the exchange rate quoted on the Norges Bank website at 6 June 2018.
Upon issuance of the 15,834 shares, the new number of shares issued by the Company will be 77,260,580 and the new share capital will be USD 772,605.80.
The following Directors will receive shares (the number of shares held by the respective Director after the share issue is included in parenthesis):
- Morten W. Høegh (2,639 shares which has been transferred at the issuance price to Leif Höegh & Co. Ltd. (LHC) and will be delivered to LHC upon issuance of the shares. Please also see below).
- Leif O. Høegh (2,639 shares which has been transferred at the issuance price to LHC and will be delivered to LHC upon issuance of the shares. Please also see below).
- Andrew Jamieson (9,733 shares and 4,091 common units in HMLP).
- Ditlev Wedell-Wedellsborg (9,733 shares. In addition, Ditlev Wedell-Wedellsborg owns 15,242 shares in the Company through Niki Invest Aps. and 16,210 common units in Höegh LNG Partners LP through DWW Landbrug Aps.)
- Chris Finlayson (5,377 shares).
- Jørgen Kildahl (4,924 shares).
Disclosing regarding Morten W. Høegh and Leif O. Høegh
Leif Höegh & Co. Ltd., which is indirectly controlled by Leif O. Høegh and family trusts under which Morten W. Høegh and his immediate family are primary beneficiaries, will, following the above transactions, hold a total of 33,026,031 shares, representing 42.75% of the shares in the Company and 336,591 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 and his immediate family are primary beneficiaries, hold the following ownership interest in the Company:
- Brompton Cross VIII Limited holds 28,500 shares, representing 0.04% of the shares in issue.
- Brompton Cross IX Limited holds 28,500 shares, representing 0.04% of the shares in issue.
The percentage has been calculated based on a total of 77,260,580 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, China and Turkey. The company employs approximately 125 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.
