BW LPG Limited - BW LPG Takes Delivery of Vessel BW Chinook From Avance Gas

SINGAPORE--(BUSINESS WIRE)-- With reference to the stock exchange announcement on 15 August 2024 for the acquisition of 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas Holdings Ltd (“Avance Gas”, OSE ticker code: “AGAS”), BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) has taken delivery of vessel BW Chinook on 1 November 2024.

BW LPG has today issued 1,350,000 new BW LPG shares to Avance Gas as part-consideration for the above vessel. Following the issuance of the new shares, the total number of issued shares of BW LPG is 141,350,000, representing a total share capital in the amount of USD 310,540,048. The new shares have been legally and validly issued and are fully paid.

Following the above issuance, Avance Gas holds 1,350,000 shares in BW LPG, representing approximately 0.96% shareholding.

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, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. 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 450 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/20241101815449/en/

Kristian Sørensen, CEO, BW LPG

Samantha Xu, CFO, BW LPG

E-mail: investor.relations@bwlpg.com

Source: BW LPG Limited

FAQ

What vessel did BW LPG (BWLP) acquire from Avance Gas on November 1, 2024?

BW LPG acquired the vessel BW Chinook from Avance Gas Holdings on November 1, 2024.

How many new shares did BW LPG (BWLP) issue to Avance Gas for the BW Chinook?

BW LPG issued 1,350,000 new shares to Avance Gas as part-consideration for the BW Chinook vessel.

What is Avance Gas's shareholding in BW LPG (BWLP) after the new share issuance?

Following the share issuance, Avance Gas holds 1,350,000 shares in BW LPG, representing approximately 0.96% shareholding.