2 October 2023
With reference to the press release dated 6 July 2023, BW LPG Limited (“BW LPG”, the “Company”, OSE ticker code: “BWLPG.OL”) announces today that Kristian Sørensen has assumed the role of Chief Executive Officer (CEO) of BW LPG with effect from 1 October 2023.
The Board of Directors of BW LPG has approved the award of 100,000 share options to Kristian Sørensen under the Management Share Option Plan “LTIP 2022” which was launched on 1 March 2022.
The strike price for the options shall be equal to the sum of (i) the volume weighted average share price quoted on the Oslo Stock Exchange for the five trading days (from 2 October to 6 October) following this announcement (VWAP), and (ii) 16% of the VWAP. These options will have a vesting period of three years and will vest on the same schedule as the options granted on 28 February 2023. They may then be exercised in a period of three additional years.
The total number of options and shares held following the award are as set out below:
Kristian Sørensen, Chief Executive Officer
Options granted on 28 February 2023: 120,647
Options granted on 1 October 2023: 100,000
Total options held: 220,647
Shares held: 3,800
For further information, please contact:
Chief Executive Officer
Chief Financial Officer
Attached: MAR Form
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at www.bwlpg.com.
BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.
This information is subject to the disclosure requirements pursuant to Article 19 of the EU Market Abuse Regulation and Section 5-12 of the Norwegian Securities Trading Act.