NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE
HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE
PEOPLE'S REPUBLIC OF CHINA, JAPAN, SOUTH AFRICA OR
THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH
THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
BW LPG - APPROVED LISTING APPLICATION
Singapore, 14 November 2013. Reference is made to the
initial public offering of common shares
(the "Offering") of BW LPG Limited ("BW LPG",
the "Company", ticker code: "BWLPG").
In a meeting held on 14 November 2013, the board of
directors of the Oslo Stock Exchange approved BW
LPG's listing application and resolved to admit the
common shares of BW LPG to listing on the Oslo Stock
Exchange, subject to the satisfaction of the
following conditions; that (a) BW LPG will have in
excess of 500 shareholders, each holding shares with
a value of more than NOK 10,000, (b) there will be a
minimum free float of the shares of 25%, and (c) the
proceeds to the Company from the sale of new shares
issued by the Company being at least USD 200 million.
For further information about the Offering, reference
is made to the prospectus dated 7 November 2013
which, subject to regulatory restrictions in certain
jurisdictions, is available at www.bwlpg.com,
www.seb.no, www.abgsc.no and www.nordea.no/bw. Hard
copies of the Prospectus may be obtained free of
charge by contacting the Company or one of the
Managers.
BofA Merrill Lynch (BofAML) and Skandinaviska
Enskilda Banken (SEB) are acting as Joint Global
Coordinators for the Offering. Deutsche Bank,
together with the Joint Global Coordinators, are
acting as Joint Lead Bookrunners for the Offering.
ABG Sundal Collier Norge ASA (ABG Sundal Collier) and
Nordea Markets, a part of Nordea Bank Norge ASA
(Nordea) are acting as Co-Lead Managers for the
Offering. The Joint Lead Bookrunners and the Co-Lead
Managers are herein referred to as the "Managers".
For further queries, please contact:
Lisa Lim - Corporate Communications
BW Maritime
Tel: +65 6434 5871
Email: lisa.lim@bwmaritime.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.
DISCLAIMERS
This announcement is not and does not form a part of
any offer for sale of securities.
Not for release, publication or distribution,
directly or indirectly, in Australia, Canada, the
Hong Kong Special Administrative Region of the
People's Republic of China, Japan, South Africa or
the United States, or any other jurisdiction in which
such distribution would be unlawful or would require
registration or other measures.
These materials are not an offer for sale of
securities in the United States. Securities may not
be sold in the United States absent registration with
the United States Securities and Exchange Commission
or an exemption from registration under the U.S.
Securities Act of 1933, as amended (the "Securities
Act". BW LPG does not intend to register any part of
the offering in the United States or to conduct a
public offering of Shares in the United States.
Any offering of the securities referred to in this
announcement will be made by means of a prospectus.
This announcement is not a prospectus for the
purposes of Directive 2003/71/EC (as amended,
together with any applicable implementing measures in
any Member State, the "Prospectus Directive").
Investors should not subscribe for any securities
referred to in this announcement except on the basis
of information contained in the aforementioned
prospectus.
In any EEA Member State other than Norway that has
implemented the Prospectus Directive, this
communication is only addressed to and is only
directed at qualified investors in that Member State
within the meaning of the Prospectus Directive. The
expression "Prospectus Directive" means Directive
2003/71/EC (and amendments thereto, including
Directive 2010/73/EU, to the extent implemented in
any relevant Member State) and includes any relevant
implementing measure in the relevant Member State.
This communication is only being distributed to and
is only directed at persons in the United Kingdom
that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005, as amended
(the "Order") or (ii) high net worth entities, and
other persons to whom this announcement may lawfully
be communicated, falling within Article 49(2)(a) to
(d) of the Order (all such persons together being
referred to as "relevant persons"). This
communication must not be acted on or relied on by
persons who are not relevant persons. Any investment
or investment activity to which this communication
relates is available only to relevant persons and
will be engaged in only with relevant persons.
Persons distributing this communication must satisfy
themselves that it is lawful to do so.
Matters discussed in this announcement may constitute
forward-looking statements. Forward-looking
statements are statements that are not historical
facts and may be identified by words such
as "anticipate", "believe", "continue", "estimate", "e
xpect", "intends", "may", "should", "will" and
similar expressions. The forward-looking statements
in this release are based upon various assumptions,
many of which are based, in turn, upon further
assumptions. Although BW LPG believes that these
assumptions were reasonable when made, these
assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies
and other important factors which are difficult or
impossible to predict and are beyond its control.
Such risks, uncertainties, contingencies and other
important factors could cause actual events to differ
materially from the expectations expressed or implied
in this release by such forward-looking statements.
The information, opinions and forward-looking
statements contained in this announcement speak only
as at its date, and are subject to change without
notice.
Merrill Lynch International and Deutsche Bank AG,
London Branch, each of which are authorised by the
Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential
Regulation Authority, Skandinaviska Enskilda Banken
AB (publ), Oslo Branch, which is authorised and
regulated by the Swedish Financial Supervisory
Authority, i.e. Finansinspektionen, and the Norwegian
FSA, and ABG Sundal Collier Norge ASA and Nordea
Markets, a part of Nordea Bank Norge ASA, each of
which are authorised and regulated by the Financial
Supervisory Authority of Norway, are acting
exclusively for the Company and the Selling
Shareholder and no one else in connection with the
Offering and assume no responsibility for this
announcement.
None of the Managers or any of their respective
directors, officers, employees, advisers or agents
accepts any responsibility or liability whatsoever
for/or makes any representation or warranty, express
or implied, as to the truth, accuracy or completeness
of the information in this announcement (or whether
any information has been omitted from the
announcement) or any other information relating to
the Selling Shareholder or the Company, its
subsidiaries or associated companies, whether
written, oral or in a visual or electronic form, and
howsoever transmitted or made available or for any
loss howsoever arising from any use of announcement
or its contents or otherwise arising in connection
therewith.
This information is subject to disclosure
requirements pursuant to Section 5-12 of the
Norwegian Securities Trading Act.