31 December 2013

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".

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


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.