25 November 2014
Issuance of shares to BW LPG management team
(Singapore, 25 November 2014)
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 was 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 were transferred from BW Group Limited's shareholding on 30 December 2013 and were subject to a one-year lock-up period from the IPO, expiring today.
For the CFO and HFS, the share issuance was deferred until today and as such newly issued shares in the Company have been allocated to each in accordance with their entitlement.
The numbers of shares allocated remain consistent with the announcement made on 31 December 2013 which can be accessed here: http://www.bwlpg.com/news-from-BW-LPG/press-releases/bw-lpg---issuance-of-shares-to-bw-lpg-management-team
For further information, please contact:
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
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.