Completion of previously announced sale of the Golar Seal pursuant to an agreement dated February 20, 2023

Rhea-AI Summary

Cool Company Ltd. has successfully completed the sale of the Golar Seal for $184.3 million, as announced in their earlier press release dated February 20, 2023.

This transaction supports the company's strategy in the liquefied natural gas (LNG) sector, aiming to enhance operational flexibility and financial strength.

CoolCo focuses on providing modern and sustainable transportation solutions for LNG, emphasizing decarbonization and energy security.

Positive

• Completed sale of Golar Seal for $184.3 million, improving liquidity.
• Strengthened position as a growth-oriented LNG carrier operator.

Negative

• None.

Bermuda, March 22, 2023: Reference is made to the press release published by Cool Company Ltd. (“CoolCo” or the “Company”) on February 20, 2023 regarding the announcement that the Company had entered into an agreement to sell the Golar Seal (IMO: 9624914) (the “Vessel”) for $184.3 million.

CoolCo announces today that it has completed the sale and delivered the Vessel to the buyer.

ABOUT COOLCO

CoolCo is a growth-oriented owner, operator and manager of fuel-efficient liquefied natural gas (“LNG”) carriers. Using its integrated, in-house vessel management platform, CoolCo provides charterers and third-party LNG vessel owners with modern and flexible management and transportation solutions, delivering a lesser-emitting form of energy that supports decarbonization efforts, economic growth, energy security, and improvements in quality of life. CoolCo intends to leverage its industry relationships to make further accretive acquisitions of in-service LNGCs, and to selectively pursue newbuild opportunities.

Additional information about CoolCo can be found at www.coolcoltd.com.

For further information, please contact:

ir@coolcoltd.com

This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act.

 

FAQ

What is the recent sale completed by Cool Company Ltd.?

Cool Company Ltd. has completed the sale of the Golar Seal for $184.3 million.

What was the sale price of the Golar Seal by Cool Company?

The Golar Seal was sold for $184.3 million.

When did Cool Company announce the sale of the Golar Seal?

The sale was announced on February 20, 2023.

How does the sale of the Golar Seal impact Cool Company Ltd.?

The sale enhances Cool Company's liquidity and strengthens its position in the LNG sector.

What are Cool Company's business operations?

Cool Company Ltd. operates as a growth-oriented owner, operator, and manager of fuel-efficient LNG carriers.