Brief: Gaslog Ltd. And Gaslog Partners LP Announce Agreement To Eliminate Incentive Distribution Rights

GasLog Partners LP

24/06/2019 14:48

June 24 (Reuters) - GasLog Ltd  GLOG.N :
    * GASLOG LTD. AND GASLOG PARTNERS LP ANNOUNCE AGREEMENT TO
ELIMINATE INCENTIVE DISTRIBUTION RIGHTS
    * GASLOG LTD - IN EXCHANGE FOR THE IDRS, GASLOG WILL RECEIVE
2.5
MILLION COMMON UNITS AND 2.5 MILLION CLASS B UNITS.
    * GASLOG - CLASS B UNITS WILL BE A NEW CLASS OF LP’S
INTEREST&WILL
NOT BE ENTITLED TO GET ANY CASH DISTRIBUTIONS UNTIL THEY CONVERT
INTO COMMON UNITS
    * GASLOG - BOARD OF DIRECTORS OF GASLOG, & GASLOG PARTNERS
AND THE
CONFLICTS COMMITTEE OF THE BOARD HAVE EACH APPROVED THE
TRANSACTION
    * GASLOG LTD - DEAL IS IMMEDIATELY ACCRETIVE TO THE GASLOG
PARTNERS' DISTRIBUTABLE CASH FLOW PER LP UNIT
    * GASLOG LTD - DEAL HIGHLIGHTS REITERATION OF GASLOG
PARTNERS’
DISTRIBUTION GROWTH GUIDANCE OF 2% TO 4% FOR 2019

Source text: (https://bit.ly/2Fut5ix)
Further company coverage:  GLOG.N 

 ((Reuters.Briefs@thomsonreuters.com;))