(Singapore, 29 August 2019)
Reference is made to BW Group Limited’s announcement on 3 September 2014 regarding its placement of US$250 million senior secured exchangeable bonds due 2019.
A bondholder has exercised its right to exchange US$200,000 notional amount of exchangeable bonds into BW LPG Limited common shares. Based on the applicable exchange price under the loan agreement for the convertible bond of US$11.0992 per common share, the exchangeable bonds were exchanged into 18,019 BW LPG Limited common shares. Following the transfer, BW Group Limited holds 67,575,207 shares (47.61%) in BW LPG Limited. BW Group Limited is represented on the Board of Directors of BW LPG Limited.
For further information, please contact:
Elaine Ong, CPA, CA
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
Head of Investor Relations
BW LPG Limited
Tel: +65 6705 5519
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) and Large Gas Carriers (LGC) with a total carrying capacity of over 4 million cbm. With four decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a 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, one of the world’s leading shipping groups. BW’s controlled fleet of over 400 ships includes oil tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, chemical tankers, dry cargo carriers and floating production storage and offloading (FPSO) units.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.