BW LPG Limited Initiates Programme to Repurchase Common Shares

BW LPG Limited Initiates Programme to Repurchase Common Shares

 

(Singapore, 6 March 2018)

 

BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG”) announced today that its Board of Directors has resolved to initiate a share buy-back programme, under which it will purchase up to US$15 million (approximately NOK117 million, subject to foreign exchange rates) of its common shares.

 

The share buy-back programme will comprise up to 4 million common shares, representing up to 2.8% of the Company's issued share capital.  The highest price to be paid per share 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 7 March 2018 and will continue until and including 30 April 2018. The shares purchased will be held as Treasury Stock.

 

For further information, please contact:

 

Elaine Ong, CPA, CA

Chief Financial Officer

BW LPG Limited

Tel: +65 6705 5506

E-mail: elaine.ong@bwlpg.com

 

Zhao Yi Yen, CFA, CAIA

Head of Investor Relations and Research

BW LPG Limited

Tel: +65 6705 5514

E-mail: zhaoyi.yen@bwlpg.com

 

About BW LPG

 

BW LPG is the world's leading owner and operator of LPG vessels. BW LPG currently owns and operates 49 Very Large Gas Carriers (VLGC) and Large Gas Carriers (LGC) and two VLGC newbuildings. In addition, the Group has two VLGCs owned and operated by a joint venture. Total carrying capacity for the 53 vessels amounted to 4.3 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's fleet of over 160 vessels includes refined oil tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, chemical tankers, dry cargo carriers and floating production storage and offloading (FPSO) units.

 

This information is subject to disclosure requirements pursuant to Sections 4-2 and 5-12 of the Norwegian Securities Trading Act.