BWLPG - Issuance of shares to BW LPG management team
Singapore, 31 December 2013
Pursuant to the Company's share incentive scheme for
its top management and arising out of the initial
public offering ("IPO"), BW Group Limited, entered
into agreements with
its Chief Executive Officer (CEO) Nicholas Gleeson,
Chief Commercial Officer (CCO) Andrew Hoare, Chief
Financial Officer (CFO) Vijay Kamath and Head of Fleet
Supervision (HFS)
Sugato Roy, whereby, upon listing of the Company, each
shall be entitled to shares in the Company, with price
per share determined based on the net asset value of
the Group immediately prior to listing.
For the CEO and CCO, the shares have been transferred
from BW Group Limited's shareholding on 30 December
2013 and are subject to a one-year lock-up period from
the IPO, expiring 21 November 2014. For the CFO and
HFS, the share issuance is deferred until 21 November
2014 and will comprise newly issued shares in the
Company. The number of shares to be issued has been
based on a number of months of 2013 base salary, with
the price per share determined based on the net asset
value on listing as set out in the IPO Prospectus.
The details of shares issued / to be issued are set
out in the table attached, file name "Issuance of
shares to BW LPG management team".
For further information, please contact:
Vijay Kamath
Chief Financial Officer
BW LPG Limited
Tel: +65 6434 5819
Email: vijay.kamath@bwlpg.com
Nicholas Gleeson
Chief Executive Officer
BW LPG Limited
Tel: +65 64345801
Email: nicholas.gleeson@bwlpg.com
 
ABOUT BW LPG
BW LPG is the world's largest very large gas carrier
(VLGC) owner and operator based on number of VLGCs and
by LPG carrying capacity. BW LPG owns and operates 36
gas carriers with a total carrying capacity of about 3
million cbm and a further 504,000 cbm of capacity on
order in Korea. With 35 years 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.