(Singapore, 20 July 2015)
BW Euroholdings Limited, a wholly owned subsidiary of BW Group Limited, has today announced its purchase of a total of 6,000,000 shares in New York Stock Exchange listed Dorian LPG Ltd (”Dorian”) (NYSE: LPG), constituting approximately 10.2% of the total number of shares outstanding in Dorian. The price per share paid by BW Euroholdings Limited is USD 15.34, i.e. USD 92 million in total.
BW Euroholdings Limited has granted to BW LPG Limited an option to purchase the 6,000,000 Dorian shares at the price paid by BW Euroholdings Limited (USD 15.34 per share). The option must be exercised by BW LPG Limited no later than 27 August 2015.
BW LPG Limited is not paying any consideration for the option granted.
BW Group Limited currently holds 63.7 million shares in BW LPG Limited, representing 47% of the shares on issue, and is represented on the Board of Directors of BW LPG Limited.
For further information, please contact:
Ms Arathi Menon
BW LPG Limited
Tel: +65 6705 5513
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 38 gas carriers with a total carrying capacity of close to 3 million cbm and a further 672,000 cbm of capacity on order in Korea. With more than 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.