BW LPG Limited - BWLP STOCK NEWS

BW LPG (NYSE: BWLP) announced that primary insiders exercised vested options and sold shares on August 29, 2024. This follows the accelerated vesting of options granted under the 'LTIP 2022' plan. The company settled the exercised options by transferring treasury shares, resulting in 7,743,557 remaining treasury shares.

Three primary insiders exercised and sold options:

• Prodyut Banerjee (VP and Head of Operations): Exercised 24,840 options at NOK 0.7457 each and sold all shares at an average price of NOK 161.1115 per share.
• Knut-Helge Knutsen (VP and Head of Technical): Exercised 24,840 options at NOK 0.7457 each.
• Iver Baatvik (VP and Head of Corporate Development): Exercised 24,840 options at NOK 0.7457 each.

BW LPG is the world's leading owner and operator of LPG vessels, with a total carrying capacity of over 3 million CBM.

BW LPG (NYSE: BWLP, OSE: BWLPG.OL) has announced key information regarding its cash dividend for Q2 2024. The Board has approved a dividend of US$0.58 on August 21, 2024. For shares registered with Euronext VPS, dividends will be distributed in NOK, with the exchange rate available on the payment day. The record date is set for September 10, 2024.

For shares on the Oslo Stock Exchange, the last trading day including dividend rights is September 6, 2024, with an ex-date of September 9, 2024. Payment is expected around September 30, 2024. For shares registered with the Depository Trust Company, the last trading day including dividend rights is September 9, 2024, with an ex-date of September 10, 2024, and payment expected around September 25, 2024.

BW LPG (NYSE: BWLP, OSE: BWLPG.OL) reported strong Q2 2024 financial results with a Net Profit After Tax of US$ 85 million and earnings per share of US$ 0.58. The company declared a cash dividend of US$ 0.58 per share, totaling US$ 76.4 million. Key highlights include:

- Daily TCE of US$ 49,660 per available day
- Announced acquisition of 12 VLGCs from Avance Gas for US$ 1,050 million
- Completed redomiciliation from Bermuda to Singapore
- US listing broadened investor access with ~230,000 daily trading volume
- Strong liquidity position with US$ 578 million available at quarter-end

The company's outlook remains positive, with ~86% of Q3 2024 fixed at an average rate of ~US$ 43,000 per available day.

BW LPG (OSE: BWLPG.OL, NYSE: BWLP) has announced a conference call scheduled for 15 August 2024 to discuss an Investor Presentation following the acquisition of 12 modern VLGCs from Avance Gas. The call will be hosted by CEO Kristian Sørensen and CFO Samantha Xu.

The conference call timings are:

• Oslo, Norway: 15:00 CET
• New York, USA: 09:00 EDT
• Singapore: 21:00 SGT

Participants can register in advance via the provided Zoom link. A recording will be available on the company's website post-event. BW LPG, the world's leading owner and operator of LPG vessels, boasts a fleet capacity of over 3 million CBM and is associated with BW Group, a global maritime company with a diverse portfolio in shipping and sustainable technologies.

BW LPG (NYSE: BWLP) has agreed to acquire 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas Holdings for $1.05 billion. The fleet includes four 91K CBM dual fuel VLGCs and eight 83K CBM VLGCs. The transaction will be funded through 19.282 million new BW LPG shares, $585.4 million in cash, and debt novation. This acquisition will increase BW LPG's owned and operated VLGCs from 41 to 53, solidifying its position as the world's leading VLGC owner and operator. The deal is expected to be completed by December 31, 2024, with Avance Gas becoming a 12.77% shareholder in BW LPG. The acquisition is anticipated to enhance BW LPG's commercial scale, operational leverage, and dividend potential in a strong market.

BW LPG (OSE: BWLPG.OL, NYSE: BWLP) will release its Q2 2024 Financial Report on 22 August 2024 at approximately 0700hrs CET. The company will hold an Earnings Presentation with CEO Kristian Sørensen and CFO Samantha Xu via Zoom at 14:00 CET (08:00 EDT, 20:00 SGT). Interested parties can register in advance at the provided link. A recording will be available on the company's website after the event.

BW LPG is the world's leading owner and operator of LPG vessels, with a fleet capacity of over 3 million CBM. The company is associated with BW Group, a global maritime company with a diverse fleet of over 450 vessels, including the world's largest gas fleet of 200 LNG and LPG ships.

BW LPG has provided an update on its Product Services segment performance for Q2 2024. BW Product Services reported an estimated gross profit of approximately USD 26 million for the quarter ended 30 June 2024. After expenses and taxes, the estimated net profit was approximately USD 16 million. During Q2 2024, a USD 30 million share capital reduction was finalised, resulting in a book equity of approximately USD 68 million at the end of the quarter. The average Value-At-Risk (VAR) for the quarter was approximately USD 5 million. BW LPG will release its full Q2 2024 financial report on 22 August 2024.

BW LPG , the world's leading owner and operator of LPG vessels, has announced an accelerated vesting of its LTIP 2022 share options. The Board of Directors has decided to advance the vesting date for 503,889 outstanding options from March 1, 2025, to August 23, 2024. This decision comes as the dividend-adjusted strike price has fallen below NOK 1.

The LTIP 2022 was established for senior management and key employees, with the first tranche of share options granted on March 1, 2022. The settlement of these options will be executed through the delivery of the company's treasury shares. BW LPG, associated with BW Group, operates a fleet of Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM.

BW LPG (OSE: BWLPG.OL, NYSE: BWLP) has successfully completed its redomiciliation from Bermuda to Singapore. This transition entails changes in the ISIN and CUSIP codes for the company's shares. The new ISIN code is SGXZ69436764, effective from 5 July 2024, replacing the previous BMG173841013. Similarly, the new CUSIP code is Y10230103, also effective from 5 July 2024, replacing the previous G17384101. BW LPG is a leading owner and operator of LPG vessels, with a fleet that includes Very Large Gas Carriers (VLGC) and a total carrying capacity exceeding 3 million CBM. The company also has a strong presence in LPG terminal infrastructure and distribution.