BW LPG: Information about the proposed redomiciling to Singapore – Distribution of Practice Statement Letter
The board of directors of BW LPG propose a scheme of arrangement to redomicile the company from Bermuda to Singapore. The Redomiciliation involves a discontinuance and continuance process, with the company retaining its name and management. Shareholders will receive further information post court hearing, with the expected effective date in Q3 2024.
BW LPG is a leading owner and operator of LPG vessels with extensive experience in the industry. The company's association with BW Group adds to its strong global presence and diversified portfolio.
BW LPG's proposed Redomiciliation to Singapore signifies a strategic move to enhance its operational and regulatory framework, potentially improving its business prospects in the region.
The company's continuity of business operations, management, and name post-Redomiciliation provides stability and consistency for shareholders and investors.
BW LPG's association with BW Group, a prominent player in the maritime industry with diversified investments, adds value and credibility to the company's overall business profile.
The Redomiciliation process may involve administrative complexities and costs that could impact the company's resources and financial performance temporarily.
Changes in company registration number, CUSIP, and ISIN code post-Redomiciliation may require adjustments in systems and documentation, potentially causing inconvenience for stakeholders.
There will be a hearing on 15 May 2024 at 9:30 a.m. (
Please see the attached practice statement letter for further information about the proposed Scheme and the court hearing which has been distributed to the shareholders today. Further information about the Scheme and the effects of the Redomiciliation will be made available to the shareholders following the court hearing.
Subject to the Scheme being effective, the proposed Redomiciliation will be carried out by way of a discontinuance and continuance process, whereby the Company is continued into
The Company’s name BW LPG and ticker on the Oslo Stock Exchange and the New York Stock Exchange will remain the same after the Redomiciliation. Following the Redomiciliation, the Company will have a new company registration number and the Company’s shares will have a new CUSIP and a new ISIN code, but the Company will retain its LEI code. The Company's registered office will be the current office address in
The effective date of the Redomiciliation is expected to be in Q3 2024.
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers. More information about BW LPG can be found at https://www.bwlpg.com.
BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240502480316/en/
Samantha Xu
Chief Financial Officer
E-mail: samantha.xu@bwlpg.com
Source: BW LPG Limited
FAQ
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