Hamilton, Bermuda 23 May 2017 - Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company") advises that the Board of Directors of the Company has approved to deliver 1,961 common units in Höegh LNG Partners LP ("HMLP") to each of Sveinung J. S. Støhle, President & CEO of Höegh LNG and Steffen Føreid, CFO of Höegh LNG, both primary insiders of the Company, as part remuneration for services rendered by them as chairman and director, respectively, of HMLP. The Company is reimbursed the cost of the remuneration through a service agreement with HMLP.
The number of common units delivered constitutes a remuneration of USD 37,500 to each, based on the average closing price of the HMLP unit over the last five trading days including 22 May 2017 of USD 19.12.
The total ownership interests in Höegh LNG and HMLP subject to disclosure requirements held by the primary insiders following the above transactions are as follows:
- Sveinung J. S. Støhle, President & CEO: 122,738 shares and 423,000 options in Höegh LNG. In addition, Støhle owns 7,968 common units and 20,996 Phantom Units in HMLP.
- Steffen Føreid, CFO: 21,805 shares and 179,200 options in Höegh LNG. In addition, Føreid owns 7,591 common units and 9,198 Phantom Units in HMLP.
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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 115 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.