Company Update 19 Dec 2012
December 19, 2012
FLEX LNG (Oslo Axess: FLNG) would like to provide shareholders with an update regarding the status of ongoing discussions for reallocation of its capital invested with Samsung Heavy Industries (“SHI”).
Road Town, Tortola, 19 December 2012. FLEX LNG (Oslo Axess: FLNG) would
like to provide shareholders with an update regarding the status of ongoing
discussions for reallocation of its capital invested with Samsung Heavy Industries
(“SHI”).
 
FLEX LNG disclosed in the Q3 2012 Financial Report that it is prepared to initiate
alternative options to secure the net paid-in capital in the event an agreement
with SHI for the alternative deployment of capital is not reached within 4Q 2012.
 
As of 18 December 2012 no agreement has been reached with SHI regarding the
alternative deployment of capital and as a consequence FLEX LNG has initiated
actions deemed appropriate to secure the net paid-in capital. The company has
for some time, in close collaboration with its Board of Directors and external legal
advisors, prepared for this scenario. A commercial resolution to the deadlock is
preferred, but in absence of such, the company will take all steps necessary to
secure shareholder value.
 
During the 2nd half of 2012 FLEX LNG has significantly reduced the company’s
cash expenditure. This includes closure of the company’s offices in Singapore and
Oslo and a further downsizing of the organisation.
 
FLEX LNG will provide additional information to its shareholders during January
2013.
 

Back to news archive
 
 SEARCH  
 
 Newsletter 
Enter your email address to receive our newsletter and press releases
 
Press releases

07/20/2017
SHARE CAPITAL INCREASE IN CONNECTION WITH BOARD REMUNERATION
SHARE CAPITAL INCREASE IN CONNECTION WITH BOARD REMUNERATION

07/14/2017
FLEX LNG LTD. – RESOLUTION OF TRANSFER OF LISTING TO OSLO BØRS
FLEX LNG LTD. – RESOLUTION OF TRANSFER OF LISTING TO OSLO BØRS

Go to news archive
 
FLEX LNG Management | 4th Floor, 15 Sloane Square | London, SW1W 8ER | United Kingdom | +44 207 543 6695 | Legal
Design & Development by Maritime Colours. Powered by PublishOnline™