London, November 13, 2018 -
Reference is made to the Stock Exchange release on October, 01,
2018 where Stolt-Nielsen Limited, Golar LNG Limited and Höegh LNG
Holdings Limited (collectively the 'Sponsors')
announced a combined investment commitment of USD 182 million in
Avenir LNG Ltd ('Avenir' or the 'Company') and a contemplated subsequent equity raise in
the Company (the 'Private Placement').
The investment will be contributed as cash and equity-in-kind
and will partly fund the construction of four 7,500cbm small-scale
LNG carriers currently under construction at Keppel Singmarine in
Nantong, China, two 20,000cbm small-scale LNG carriers on order
from Sinopacific Offshore Engineering in Nantong, China and 80%
ownership in an LNG terminal and distribution facility under
development in the Italian port of Oristano, Sardinia.
Avenir LNG has the ambition to become the leading
provider of small scale LNG for the Power, Bunkering, Trucking and
Industrial markets through supplying low-cost LNG using innovative
technology and leveraging from its Sponsors' know-how and existing
LNG infrastructure.
The Company is pleased to announce that the first
step in the capitalisation of Avenir, a Private Placement of
110,000,000 new shares (the 'Offer Shares') at
a par price of USD 1.00 per share, which has now been successfully
completed at a subscription price of USD 1.00 per share.
This placement was split in two tranches.
Tranche A consisted of 99,000,000 new shares that were
subscribed for by Stolt-Nielsen Ltd (through Stolt-Nielsen LNG
Holdings Ltd.), (49,500,000 Shares), Golar LNG Limited (24,750,000
Shares) and Höegh LNG Holdings Ltd (24,750,000 Shares). This
Tranche has closed.
Tranche B consisted of 11,000,000 new shares and
was placed with a group of institutional and other professional
investors on 8 November. Tranche B will close today, November
13, 2018.
The Company will, once Tranche B is closed, have
an issued share capital of USD 110,000,000 divided into 110,000,000
common shares, each with a nominal value of USD 1.00.
Stolt-Nielsen LNG Holdings Ltd. will hold 45% of the shares,
each of Golar LNG Limited and Höegh LNG Holdings Limited will hold
22.5% while the remainder will be initially held by the subscribers
in Tranche B.
The Company's shares will be listed on the N-OTC
list with effect from November 14, 2018.
Clarksons Platou Securities AS,
Danske Bank Norwegian branch, DNB Markets, a part of DNB Bank ASA,
Fearnley Securities AS, Nordea Bank Abp. Filial Norge, Pareto
Securities AS, Swedbank Norge, branch of Swedbank AB (Publ.) in
cooperation with Kepler Cheuvreux and Skandinaviska Enskilda Banken
AB (publ.) (Oslo Branch) acted as managers in the Private
Placement.
For additional information please
contact:
Jens F. Grüner-Hegge
Chief Financial Officer
UK +44 (0) 20 7611 8985
j.gruner-hegge@stolt.com
Ellie Davison
Head of Corporate Communications
UK +44 (0) 20 7611 8926
e.davison@stolt.com
About Avenir LNG Limited
Avenir LNG Limited is a Bermuda registered company
established for the purpose of developing the small scale global
LNG market by sourcing, shipping, storing and distributing LNG to
the end customer in areas of stranded demand.
About Stolt-Nielsen
Limited
Stolt-Nielsen Limited (SNL or the
"Company") is a leading global provider of integrated
transportation solutions for bulk liquid chemicals, edible oils,
acids, and other specialty liquids through its three largest
business divisions, Stolt Tankers, Stolthaven Terminals and Stolt
Tank Containers. Stolt Sea Farm produces and markets high quality
turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas develops
opportunities in LPG and LNG shipping and distribution.
Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.
Forward-Looking
Statements
This press release contains
"forward-looking statements" based on information available to the
Company on the date hereof, and the Company assumes no obligation
to update any such forward-looking statement. These statements may
be identified by the use of words like "anticipate," "believe,"
"estimate," "expect," "intend," "may," "plan," "project," "will,"
"should," "seek," and similar expressions. The forward-looking
statements reflect the Company's current views and assumptions and
are subject to risks and uncertainties. The Company does not
represent or warrant that the Company's actual future results,
performance or achievements will be as discussed in those
statements, and assumes no obligation to, and does not intend to,
update any of those forward-looking statements other than as may be
required by applicable law.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Stolt-Nielsen Limited via Globenewswire
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