HAMILTON, Bermuda, Dec. 5, 2022
/PRNewswire/ -- Höegh LNG Partners LP (NYSE: HMLP) (the
"Partnership") announces that its board of directors (the "Board")
has approved the delisting of the Partnership's 8.75% Series A
Cumulative Redeemable Preferred Units (the "Preferred Units"). The
Partnership also plans to give notice to the New York Stock
Exchange ("NYSE") of its intent to voluntarily delist the Preferred
Units and to withdraw the registration of its Preferred Units with
the Securities and Exchange Commission ("SEC").
The Partnership intends to file a Form 25 Notification of
Removal from Listing with the SEC on or about December 23, 2022, and the delisting will be
effective on or about January 2,
2023, ten days after the filing of the Form 25. In
connection with the foregoing, the Partnership also intends to file
a Form 15 with the SEC to suspend the Partnership's reporting
obligations under the Securities Exchange Act of 1934, as amended,
in connection with the Preferred Units. The Partnership has not
arranged for listing and/or registration on another national
securities exchange or for quotation of the Preferred Units in a
quotation medium. However, the rights of the holders of the
Preferred Units will not be affected under the Partnership's
limited partnership agreement. After the delisting and
deregistration of the Preferred Units, the Partnership expects to
continue to make annual and quarterly financial statements
available to the public on its website.
The Board's decision to delist and deregister the Preferred
Units was based on a review of several factors, including the costs
associated with maintaining the Partnership's listing and preparing
and filing periodic reports with the SEC, the reduction of
significant legal, audit and other costs associated with being a
reporting company, the likely inability of the Partnership to raise
capital through issuance of additional Preferred Units and
eliminating the demands on management's time of complying with the
NYSE listing standards and SEC reporting rules.
Forward-Looking
Statements
This press release contains "forward-looking statements." All
statements, other than statements of historical facts, that address
activities, events or developments that the Partnership expects,
projects, believes or anticipates will or may occur in the future
are forward-looking statements. You are cautioned not to rely on
these forward-looking statements, which speak only as the date of
this press release. The Partnership undertakes no obligation and
does not intend to update these forward-looking statements to
reflect events or circumstances occurring after this press release.
These statements are based on current expectations of future
events, are not guarantees of future performance and are subject to
risks, uncertainties and other factors, some of which are beyond
the Partnership's control and are difficult to predict. If
underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially
from our expectations and projections. When considering these
forward-looking statements, you should keep in mind the risk
factors and other cautionary statements found in the Partnership's
filings with the SEC, which include, but are not limited to, those
found in the Partnership's Annual Report on Form 20-F for the year
ended December 31, 2021, filed with
the SEC on April 25, 2022 and the
Partnership's Report on Form 6-K for the quarter ended June 30, 2022, filed with the SEC on August 24, 2022.
Contact
The IGB Group, Bryan Degnan, +1
(646) 673-9701 / Leon Berman, +1
(212) 477-8438
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SOURCE Hoegh LNG Partners LP
