Hamilton, Bermuda 26 June 2018 - Reference is made to the stock exchange notice dated 6 June 2018 and 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 received 2,639 shares on 25 June 2018 and a total of 15,834 new shares were 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 Norges Bank website at 6 June 2018.
The new number of issued shares in the Company following the share issue is 77,260,580 and the new share capital is USD 772,605.80.
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 (Please see below).
- Leif O. Høegh (Please see below).
- Andrew Jamieson (9,733 shares and 6,301 common units in HMLP, of which 2,210 were issued 25 June 2018, cf. stock exchange notice 6 June 2018).
- 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 - mandatory notification of trade
Morten W. Høegh and Leif O. Høegh had transferred the above-mentioned shares to Leif Höegh & Co. Ltd. (LHC) at the issuance price and the shares were delivered to LHC upon issuance of same. LHC is a primary insider of the Company and is indirectly controlled by Leif O. Høegh and family trusts under which Morten W. Høegh and his immediate family are the primary beneficiaries.
With reference to stock exchange notice dated 6 June 2018, Morten W. Høegh transferred 2,210 common units received as part remuneration for his services as director of Höegh LNG Partners LP (HMLP) to LHC at the issuance price. Same was delivered to LHC 25 June 2018.
Following the above transactions, Leif Höegh & Co. Ltd. holds a total of 33,026,031 shares, representing 42.75% of the shares in the Company, and 338,801 common units in HMLP.
Morten W. Høegh and Leif O. Høegh hold no common shares in the Company and no common units in HMLP personally.
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 the primary beneficiaries, hold the following ownership interests 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 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.
