FLEX LNG Limited has successfully completed its Initial Public Offering
October 29, 2009
FLEX LNG Limited (“FLEX LNG” or the “Company”) has successfully completed its Initial Public Offering (the “Offering”).
SUCCESSFUL COMPLETION OF INITIAL PUBLIC OFFERING
 
FLEX LNG Limited (“FLEX LNG” or the “Company”) has successfully completed its Initial Public Offering (the “Offering”). The Board of Directors of FLEX LNG has on Wednesday 28 October 2009 resolved to issue 10,381,819 new shares at a price of NOK 5.50 per share. The subscription period expired on 28 October 2009 at 17:30 CET and the Offering was oversubscribed. Gross proceeds from the Offering amount to USD 10,000,000.
 
On 28 October 2009, the Board of Directors of Oslo Børs resolved to admit shares in FLEX LNG to listing on Oslo Axess and the first day of listing on Oslo Axess is expected to be on or about 30 October 2009. The FLEX LNG shares will trade on the Oslo Axess under the ticker symbol 'FLNG'.
 
Notices regarding allotment will be issued on or about 29 October and the transfer of shares is expected to take place on or about 3 November. The transfer of shares is dependent on the payment conditions as described in the prospectus dated 19 October 2009.
 
FLEX LNG will have a total of 112,746,190 shares outstanding after the completion of the offering, which implies a market capitalisation of approx. NOK 620 million. The Offering was subscribed for by a wide range of international and Norwegian investors and FLEX LNG will have more than 200 shareholders after the completion of the offering.
 
Arctic Securities AS, Pareto Securities AS and SEB Enskilda AS have acted as Managers and Bookrunners for the Offering and listing of FLEX LNG.

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