BW LPG Limited - Successful Completion of the Redomiciliation to Singapore

Rhea-AI Summary

BW LPG has successfully completed its redomiciliation from Bermuda to Singapore. This follows the Supreme Court of Bermuda's sanctioning the scheme of arrangement between the company and its shareholders. All conditions for the scheme have been satisfied, and the company's incorporation in Singapore is effective as of today. The company is now registered in Singapore under the number 202426186Z. BW LPG has applied for a new ISIN and CUSIP code and will announce these details soon. BW LPG is a leading owner and operator of LPG vessels, with a total carrying capacity of over 3 million CBM and extensive experience in LPG shipping and infrastructure.

Positive

• Successful completion of redomiciliation to Singapore.
• All conditions for the scheme of arrangement have been satisfied.
• BW LPG is now registered in Singapore, providing potential regulatory and operational benefits.

Negative

• None.

SINGAPORE--(BUSINESS WIRE)-- Reference is made to the stock exchange announcement made by BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) on 21 June 2024 regarding the subsequent court hearing (the "Sanction Hearing") at which the Supreme Court of Bermuda (the "Court") sanctioned the scheme of arrangement (the "Scheme") between the Company and its shareholders pursuant to Section 99 of the Bermuda Companies Act 1981 as amended in order to effect a discontinuance of the Company from Bermuda and continuance to Singapore and adopt the constitution of the Company which will take effect upon continuance in Singapore (the "Redomiciliation"). The court order has been filed with the Registrar of Companies in Bermuda and the Company has obtained the final approval by the Singapore Accounting and Corporate Regulatory Authority.

All conditions to the Scheme as set out in the Scheme have been satisfied or waived, the Redomiciliation has become effective, and the Company is incorporated in Singapore, as of today. The Company's registration number in Singapore is 202426186Z. The Company has applied for a new ISIN code and a new CUSIP code and will make a further announcement with the new ISIN code and the new CUSIP code in due course.

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 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/20240630430599/en/

Samantha Xu

Chief Financial Officer

E-mail: investor.relations@bwlpg.com

Source: BW LPG Limited

FAQ

What has BW LPG announced regarding its redomiciliation?

BW LPG has announced the successful completion of its redomiciliation from Bermuda to Singapore.

When did the Supreme Court of Bermuda sanction the scheme of arrangement for BW LPG?

The Supreme Court of Bermuda sanctioned the scheme of arrangement for BW LPG on June 21, 2024.

What is the new registration number for BW LPG in Singapore?

BW LPG's new registration number in Singapore is 202426186Z.

What is BW LPG's total carrying capacity for its LPG vessels?

BW LPG has a total carrying capacity of over 3 million CBM for its LPG vessels.

What ticker codes does BW LPG trade under on OSE and NYSE?

BW LPG trades under the ticker code 'BWLPG.OL' on OSE and 'BWLP' on NYSE.