Nearly all existing shareholders have already committed to exercising their warrants and several shareholders have committed to investing additional funds in the placing. Combined with early orders from new investors the Managers have, subject to certain conditions, demand for shares in the indicative price range for above US $100 million.
FLEX LNG was incorporated in 2006 with the objective of commercializing the world's first floating liquefaction units (LNG/P) and signed a ship building contract with SHI on 14 March 2007 for two units utilizing the SPB LNG containment system. By using a nitrogen expander cycle, the most robust and flexible liquefaction technology in use in the LNG industry, an LNG/P can source gas from hundreds of potential offshore locations world wide where natural gas today is either left stranded or is being flared.
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