(Singapore, 28 February 2020)
The Board of Directors of BW LPG Limited (“BW LPG” or the “Company”) has approved the award of share options to the senior management of BW LPG. This is the fourth annual award of share options under the five-year long-term management share option plan (“LTIP 2017”) which was launched on 21 April 2017. LTIP 2017 is aimed at aligning the interests of the senior management of the Company with those of the shareholders. Details of the plan can be found in the following link: https://www.bwlpg.com/investor-centre/press-releases/detail/Management-Share-Option-Plan-LTIP-2017
The total number of options that will be awarded in 2020 is 335,120 options. The options will be awarded in connection with the publication of the quarterly report for Q4 2019.
The Company will purchase 335,120 common shares, representing 0.2% of the total number of shares in issue, at a price of up to US$2.5 million. The shares will be purchased from the open market, commencing on 4 March 2020 and will continue until and including 10 March 2020.
The following primary insiders of the Company have been awarded the fourth annual tranche of share options under LTIP 2017. The total number of shares (if any) held by these primary insiders are as set out below:
Elaine Ong, Chief Financial Officer
Options awarded in 2020: 85,200
Options awarded in 2019: 85,200
Options awarded in 2018: 49,700
Options awarded in 2017: 49,700
Shares held: 10,630
Shares held: 96,000
Shares held: 6,495
Shares held: NIL
Shares held: NIL
Shares held: NIL
For further information, please contact:
E-mail: elaine.ong@bwlpg.com
E-mail: iver.baatvik@bwlpg.com
About BW LPG
BW LPG is associated with BW Group, one of the world’s leading shipping groups. BW Group controls a fleet of over 360 ships which includes product tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, dry cargo carriers, crude oil supertankers and floating production storage and offloading (FPSO) units.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
