BW LPG Limited - BWLP STOCK NEWS

On June 20, 2024, BW LPG received court approval to redomicile from Bermuda to Singapore. The Supreme Court of Bermuda sanctioned the Scheme of Arrangement, initiating the company's transition. The redomiciliation is expected to be effective around July 1, 2024, subject to additional approvals and filings. Post-redomiciliation, BW LPG will adopt new ISIN and CUSIP codes for its shares trading on the Oslo Stock Exchange and the New York Stock Exchange, anticipated to start around July 5, 2024. BW LPG will continue trading under its current tickers

On 12 June 2024, BW LPG held a shareholder meeting to vote on a scheme to redomicile from Bermuda to Singapore. The scheme was approved and awaits final sanctioning by the Bermuda Supreme Court on 20 June 2024. If sanctioned, the redomiciliation will take effect around 1 July 2024, subject to further approvals by the Singapore authorities. BW LPG is a major player in the LPG shipping industry, owning and operating a fleet of Very Large Gas Carriers (VLGC) with over 3 million CBM carrying capacity. The company is part of BW Group, a global maritime leader with a diverse portfolio, including shipping and sustainable technologies.

BW LPG held its 2024 Annual General Meeting on 12 June 2024. Key resolutions included setting the number of Directors to a maximum of eight, re-electing six Directors, and re-appointing Andreas Sohmen-Pao as Chairman. The meeting also approved annual fees for Directors, re-appointed KPMG LLP as Auditors, and authorized the Board to determine their remuneration. Additionally, Directors were given the authority to purchase and issue shares as stated in the meeting agenda. BW LPG, a leading LPG vessel operator, offers integrated services along the LPG value chain.

BW LPG announced that its shares will trade ex-dividend on the Oslo Stock Exchange from today and on the New York Stock Exchange from June 10, 2024. The cash dividend for Q1 2024 is set at USD 1.00 per share. BW LPG is a leading owner and operator of LPG vessels, managing Very Large Gas Carriers (VLGC) with a total capacity of over 3 million CBM. The company, with five decades of experience, also has a growing presence in LPG terminal infrastructure and distribution. BW LPG is part of BW Group, a global maritime company with a focus on shipping, floating infrastructure, oil & gas production, and sustainable technologies.

BW LPG has announced a cash dividend of USD 1.00 per share for Q1 2024. Key dates include approval on May 29, 2024, and record date on June 10, 2024, for shares registered with Euronext VPS. The ex-date for Oslo Stock Exchange is June 7, 2024, with payment on or about June 28, 2024. For shares registered with Depository Trust Company, the ex-date is June 10, 2024, with payment on or about June 25, 2024. BW LPG, the world's leading owner and operator of LPG vessels, aims to provide integrated, reliable services with its fleet of Very Large Gas Carriers (VLGC).

BW LPG (NYSE: BWLP) reported a strong Q1 2024 performance. Key highlights include a daily TCE of $61,500, a net profit after tax (NPAT) of $150 million, and earnings per share of $1.07. The company declared a $1.00 per share dividend, representing a 93% payout ratio. BW LPG generated $468.5 million in free cash flow and achieved an operating profit of $157.8 million, with a net leverage ratio at an all-time low of 7% and liquidity of $661 million.

Notable commercial achievements include signing a multi-year cargo contract with Enterprise Product Partners and selling a VLGC for $65 million. BW LPG also successfully listed on the New York Stock Exchange and plans to redomicile from Bermuda to Singapore.

The market outlook shows fluctuating VLGC spot rates due to seasonal demand and supply dynamics, with a recovery expected through the remainder of 2024. The global VLGC fleet has increased to 394 vessels, with new additions expected in the coming years.

BW LPG announced changes to the dial-in details for its Q1 2024 Financial Results Presentation. The presentation will be held live via Zoom on May 30, 2024. The times are 13:00 CET in Oslo, 07:00 EDT in New York, and 19:00 SGT in Singapore. Participants need to register in advance through the provided link, and a confirmation email with Zoom meeting details will follow. A recording will be available on the company's website after the event.

BW LPG has announced its 2024 Annual General Meeting (AGM) will be held on June 12, 2024, at 17:00 local time in Hamilton, Bermuda. The meeting will take place at Washington Mall Phase 2, 4th Floor, Suite 400, 22 Church Street, HM 1189. BW LPG is a leading owner and operator of LPG vessels, with a fleet comprising Very Large Gas Carriers (VLGC) totaling over 3 million CBM in carrying capacity. The company has a significant history in LPG shipping, experienced personnel, and an integrated LPG trading division. BW LPG is linked to BW Group, a major global maritime entity with over 490 vessels and investments in sustainable technologies. For more details, visit https://www.bwlpg.com. The information is disclosed in accordance with the Norwegian Securities Trading Act.

BW LPG has announced a court-sanctioned Scheme Meeting scheduled for 12 June 2024 at 16:00 local time in Hamilton, Bermuda. Shareholders will vote on a Scheme to redomicile the company from Bermuda to Singapore. The move, sanctioned under Section 99 of the Bermuda Companies Act 1981, includes adopting a new Singapore Constitution. Shareholders of record as of 16 May 2024 are eligible to vote. If approved, the Scheme will require a subsequent court hearing in Bermuda. Key attributes like share capital and voting rights will remain unchanged post-redomiciliation, but the company will be governed by Singapore corporate law. BW LPG, a global leader in LPG shipping, aims for enhanced corporate governance and operational flexibility. Full details and multimedia can be viewed on Business Wire.