The parties withdraw from announced transactionSeptember 23, 2015
The parties withdraw from announced transaction
Road Town, Tortola, 23 September, 2015: Reference is made to the previous
announcement of 1 July, 2015 that Flex LNG Ltd. (the "Company"),
EXMAR NV and Geveran Trading Co. Ltd. had agreed on the main terms for a
transaction involving their respective LNG assets and that completion of the
transaction would be subject to, inter alia, satisfactory due diligence and
agreement on definitive transaction documents.
parties have failed to agree on the definitive transaction documents and the previously
announced transaction will not be completed.
together with its main shareholder Geveran Trading, will continue with the
construction of its two LNG carriers and examine other strategic alternatives
to add value to the Company and its shareholders, including considerations of
opportunities across the LNG value chain. The current condition of the LNG
market could give interesting consolidation and growth opportunities for the
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