UK: FLEX LNG Announces Share Capital Increase in Connection with Board Remuneration
FLEX LNG is pleased to announce that in accordance with the resolution by the shareholders at the annual shareholders meeting of FLEX LNG Ltd (“Flex LNG” or the “Company”) held on 25 May 2010, the Board of Directors of FLEX LNG has resolved to issue 132,331 new shares to the members of the Board of Directors, as part of their remuneration for the first half of 2010.
The shares will be issued and registered as soon as possible. The shares resolved to be issued to the members of the Board of Directors constitute a total remuneration of USD 95,000, based on a price per share of NOK 4.4846.
The price per share is calculated on the basis of the volume weighted average trading price of the Company’s shares over a period of ten consecutive trading days ending on the day of the remuneration settlement, being 21 July 2010.
After the issue of shares in accordance with the resolutions described above, the share capital of FLEX LNG will be USD 1,130,432.43, divided into 113,043,243 shares, each with a par value of USD 0.01.
Source: FLEX LNG, August 25, 2010