FLNGo - FLEX LNG News Story

NOK99.2 1.4  1.4%

Last Trade - 07/05/21

Mid Cap
Market Cap £459.6m
Enterprise Value £1.37bn
Revenue £117.7m
Position in Universe 505th / 1838

BRIEF-FLEX LNG: contemplated acquisition of two high-end MEGI LNGC newbuilds

Thu 16th February, 2017 3:35pm
Feb 16 (Reuters) - FLEX LNG Ltd  FLNG.OL : 
    * Announcement of contemplated acquisition of two high-end MEGI LNGC newbuilds and Private 
    * Contemplating to enter into transaction for acquisition of shipbuilding contracts for two 
high-end MEGI LNGC newbuilds at Daewoo Shipbuilding and Marine Engineering Co. Ltd. 
    * Scheduled delivery in Q1 2018 
    * In addition is contemplating $100 million offering of new shares against cash payment 
    * If completed, offering implies issue of about 147 million - 150 million new shares in 
    * Subscription price in offering will be set through accelerated book-building process in 
private placement within range of 11.50-12.00 Norwegian crowns per New Share (equaling 
$1.38-$1.44 at a USDNOK exchange rate of 8.33) 
    * Net proceeds from private placement will be used for debt repayment under RCF (at 
company's full discretion), working capital and general corporate purposes 
Source text for Eikon:  ID:nObidLVdba  
Further company coverage:  FLNG.OL  
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))
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