Geveran, Flex LNG sign new swap deal as CEO buys new shares

Flex LNG, an emerging player in the LNG sector said that Geveran Trading, another John Fredriksen controlled company settled total return swap (TRS) agreements underlying 810,000 shares in Flex LNG, expiring March 6.

Subsequently, the company entered into a new TRS agreement underlying the same number of share, Geveran Trading said in a stock exchange filing.

The new expiry date is set to June 6, 2018, with a new price of 11.25 Norwegian Krones ($1.44). The company’s affiliated ownership in Flex LNG remains unchanged at 191,131,803 shares representing 51.94 percent of the issued share capital.

In a separate statement, Flex LNG informed that the company’s CEO Jonathan Cook purchased 25,000 shares at a price of 11.31 Norwegian Krone. Following the transaction, Cook owns 35,000 shares in Flex LNG.