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RSinvest
28.03.2019 kl 16:56 1890

Gudene vet. Opp på 20mill i går og ned på14mill i dag. Godt det ikke er omvendt.
Ellers kan Øystein rapportere at:

Pleased to announce that the $300m equity private placement equity offering which Flex LNG carried out on October 10, 2008 has just received the Deal of the Year Prize by Marine Money.

The proceeds from the equity offering was utilized to acquire five large 5th generation LNG carriers fitted with the newest slow speed two stroke propulsion system for delivery in 2020/2021 at very attractive bottom of the cycle newbuilding prices. By carrying out the transaction, Flex LNG got instant scale with a fleet of 13 vessels in total - all fifth generation vessels.

Hence, from start of 2017 to end of 2018 Flex LNG has grown its fleet from two vessels to 13 and thus becoming the leading owner of modern LNG tonnage. As we remain very optimistic and confident about the direction of the market, Flex LNG has deliberately not entered into longer term contracts for the fleet in order to be able to capture better rewards when the market have fully recovered. With the $300m equity offering in 2018, the $329m equity raised in 2017 and the existing paid in equity, Flex LNG has a very robust capitalization and is thus able to take such a view and position on the market.

The stock traded relatively well during the month subsequent to the offering with a 30 days gain of about 3.5% and a peak of NOK 160 (+12.3%) a week subsequent to the offering. However, the stock have since traded down together with the market and shipping stocks in particularly. Our main focus is executing our strategy which remain firm and we do hope investors in the deal will share the benefits when markets are turning tighter which is already underway in our view and as evidenced from recent fixture activity.

Thanks to the investment banks arranging the deal being DNB Markets, Pareto Securities, Arctic Securities, Fearnleys Securities, SEB and ABM Amro with special thanks to deal captains Dag Klaveness and Søren Clausen in DNB and Pareto respectively. You all did a great job. Not least thanks to the investors supporting the transformation and growth strategy of Flex LNG. Attached article from Marine Money which I hope editor George Weltman do not mind me sharing.

https://www.linkedin.com/pulse/deal-year-flex-lngs-300m-equity-offering-oeystein-moksheim-kalleklev/

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