FLEX LNG will utilize the option to increase the new issue up to USD 350 million.
Combined with the subscription from Kawasaki Kisen Kaisha Ltd, the Managers have, subject to certain conditions, demand for shares in the indicative price range for above USD 350 million.
The private placement will close as planned on Friday, June 27.
The Company has also decided to utilize the exemption available in the Securities Trading Act art. 7-2 to accept applications from up to 99 applicants for a lesser amount than EUR 50.000 without issuing a prospectus. This exemption will only be used to enable allocation of shares to employees of the management company and is expected to cover subscriptions for less than NOK 1 million.
The shareholders of the Company have furthermore, by a written resolution approved by a 2/3 majority, resolved to waive the shareholders’ preferential rights and authorize the board of directors of the Company to issue new shares in the Company, sufficient to allow the Company to complete the new equity issue, and all other matters recently covered by a recent proposal circulated to all shareholders, including issue of warrants and options in the Company to Hansa LNG Ltd. (as described in the Information Memorandum made available in connection with the placement) and amend the articles of association of the Company, inter alia, to allow for the Company to have a board of directors of maximum nine (9) directors.
The transaction is managed by SEB Enskilda AS, Pareto Securities AS and Arctic Securities ASA.
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