BW LPG: Share Buy-back Programme Initiated
(Singapore, 1 June 2017)
The Board of Directors of BW LPG Limited ("BW LPG", the "Company", OSE ticker code: "BWLPG") has resolved to initiate a share buy-back programme, under which BW LPG will purchase 284,000 common shares, representing 0.2% of the Company's issued share capital, at a price of up to US$1.64 million (approximately NOK 13.67 million, subject to foreign exchange rates).
The highest price to be paid per share will be NOK 48.15, but shall in no event exceed the prevailing market price at the Oslo Stock Exchange on the relevant trading day. The shares will be purchased from the open market as well as potentially through private offerings.
The share buy-back programme will commence on 1 June 2017 and will continue until and including 9 June 2017. The purpose of the share buy-back programme is to use shares for the Company's Long-term Management Share Option Plan (as further detailed in the announcement dated 21 April 2017) for the year 2017.
For further information, please contact:
Elaine Ong, CPA, CA
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
John Papaioannou, CFA
Head of Strategy, Research & Investor Relations
BW LPG Limited
Tel: +65 6705 5514
About BW LPG
BW LPG is the world's leading owner and operator of LPG vessels. BW LPG currently owns and operates 55 Very Large Gas Carriers (VLGC) and Large Gas Carriers (LGC) including two VLGC newbuildings with a total carrying capacity of 4.5 million cbm. With four decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers.
BW LPG is associated with BW Group, one of the world's leading shipping groups. BW Group is involved in oil and gas transportation, floating gas infrastructure, environmental technologies and deep-water production.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.