Singapore, 3 December 2014)
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 NOK105 million, subject to
foreign exchange rates) of its common shares.
The share buy-back programme will comprise up to 2.1
million common shares, representing up to 1.54% of
the Company's issued share capital. The highest
price to be paid per share will be NOK 50.00, 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
December 3, 2014 and will continue until and
including December 22, 2014. The share buy-back
programme is managed by SEB. The shares purchased
will be held as Treasury Stock.
For further information, please contact:
Vijay Kamath
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
Email: vijay.kamath@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 close to 3 million cbm and a further
588,000 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.