FLEX LNG Announces Indicative Price Range

FLEX LNG Ltd. says the Board has set an indicative price range of NOK 20 - 25 per share in the ongoing private placement. The book building period will commence today, Monday, September 3rd and close on Friday, September 7th 16:30 CET at the latest.

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.