FLNG – Changes to the Board composition

November 2, 2020 – Hamilton, Bermuda

Flex LNG Ltd (“FLNG” or “the Company”) announces that João Saraiva E Silva has resigned as a Director of the Company.

Mr. Saraiva E Silva has served as a Director since September 2019.

The Board would like to thank Mr Saraiva E Silva for his contribution and wishes him well in his future pursuits.

The Board has commenced a process to identify suitable candidates to fill the vacancy on the board.

For further information, please contact: Øystein M Kalleklev, CEO of Flex LNG Management AS

Telephone: +47 23 11 40 00

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.

Flex LNG – Invitation to Q3 2020 presentation and webcast

Hamilton, Bermuda, November 2, 2020

Flex LNG Limited (“Flex LNG” or the “Company”) will release its preliminary financial results for the third quarter of 2020 on Tuesday 17 November, 2020 on or about 7:00 a.m. CET (1:00 a.m. EST). In connection with the earnings release, a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m. EST).

In order to attend the webcast and/or conference call you may do one of the following:

Attend by Webcast:

Use to the follow link prior to the webcast: https://edge.media-server.com/mmc/p/noymzjrh

Attend by Conference Call:

Applicable dial-in telephone numbers are as follows:

Norway: +47 21 03 39 22

United Kingdom: +44 (0) 203 0095 709

United Kingdom, local: 0844 4936 766

United States: +1 646 787 1226

United States (toll free): +1 866 2801 157

Confirmation Code: 5888874

A Q&A session will be held after the teleconference/webcast. Information on how to submit questions will be given at the beginning of the session. The presentation material which will be used in the teleconference/webcast can be downloaded on www.flexlng.com and replay details will also be available at this website.

For further information, please contact: Harald Gurvin, CFO Telephone: +47 23 11 40 00

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.

NOTIFICATION
Geveran Trading Co. Ltd. (“Geveran”), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, has settled Total Return Swap (TRS) agreements underlying 825,000 shares in Flex LNG Ltd. expiring September 7th, 2020 and subsequently entered into a new TRS Agreement underlying the same number of shares 825,000. New expiry date is December 7th, 2020 and new TRS price is NOK 51.0994 per share. Geveran’s affiliated ownership in Flex LNG Ltd. is following this transaction unchanged 24,678,811 shares, constituting 45.61 percent of the issued share capital. Geveran controls after this in addition TRS agreements with exposure to totally 825,000 shares in Flex LNG Ltd.

FLNG – Annual General Meeting 2020

FLEX LNG LTD. (the “Company”) advises that the 2020 Annual General Meeting of the Shareholders of the Company was held on August 31, 2020 at 10:30 a.m. at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2019 were presented to the Meeting.

In addition, the following resolutions were passed:

1 To set the maximum number of Directors to be not more than eight.

2. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorised to fill such vacancies as and when it deems fit.

3. To re-elect David McManus as a Director of the Company.

4. To re-elect Ola Lorentzon as a Director of the Company.

5. To re-elect Marius Hermansen as a Director of the Company.

6. To re-elect Nikolai Grigoriev as a Director of the Company.

7. To re-elect Joao Saraiva e Silva as a Director of the Company.

8. To re-appoint Ernst & Young AS of Oslo, Norway, as auditor and to authorize the Directors to determine their remuneration.

9. To approve remuneration of the Company’s Board of Directors of a total amount of fees not to exceed US$400,000 for the year ended December 31, 2020.

Hamilton, Bermuda

August 31, 2020

Notification of Trade – Primary Insiders

Hamilton, Bermuda. August 21, 2020.

Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that the following primary insider has today acquired shares in Flex LNG:

Mr. Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, has today acquired 2,500 shares in Flex LNG at a price of NOK 47.00. Following the transaction, Mr. Kalleklev holds 47,500 shares in Flex LNG and options for a further 60,000 shares. These options have a strike price of $ 14.10 per share equivalent to about NOK 126.9 per share with USD/NOK 9.00 and vest equally one third over a three-year vesting period.

Mr. Harald Gurvin, Chief Financial Officer of Flex LNG Management AS, has today acquired 2,000 shares in Flex LNG at a price of NOK 47.10. Following the transaction, Mr. Gurvin holds 17,000 shares in Flex LNG and options for a further 30,000 shares. These options have a strike price of $ 17.40 per share equivalent to about NOK 156.6 per share with USD/NOK 9.00 and vest equally one third over a three-year vesting period.

For more info please contact: Harald Gurvin, Chief Financial Officer. Telephone +47 23 11 40 00

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the continuing obligations of Oslo Børs

Invitation to Q2 2020 presentation and webcast

Hamilton, Bermuda, August 12, 2020

Flex LNG Limited (“Flex LNG” or the “Company”) will release its preliminary financial results for the second quarter of 2020 on Wednesday 19 August, 2020 on or about 7:00 a.m. CEST (1:00 a.m. EST). In connection with the earnings release, a webcast and conference call will be held at 3:00 p.m. CEST (9:00 a.m. EST).

In order to attend the webcast and/or conference call you may do one of the following:

Attend by Webcast:

Use to the follow link prior to the webcast: https://edge.media-server.com/mmc/p/6qeg8ow6

Attend by Conference Call:

Applicable dial-in telephone numbers are as follows:

Norway: +47 21 56 31 62

United Kingdom: + 44 (0) 203 0095710

United Kingdom, local: 08444933857

United States: +1 917-720-0178

United States (toll free): +1 866 869 2321

Confirmation Code: 4971456

A Q&A session will be held after the teleconference/webcast. Information on how to submit questions will be given at the beginning of the session. The presentation material which will be used in the teleconference/webcast can be downloaded on www.flexlng.com and replay details will also be available at this website.

For further information, please contact: Harald Gurvin, CFO Telephone: +47 23 11 40 00

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.

Invitation to Flex LNG Webinar

Hamilton, Bermuda, July 1, 2020

Flex LNG Limited (“Flex LNG” or the “Company”) will hold a live webinar on Thursday July 2, 2020 at 15.00 CEST or 09.00 a.m. EST. During the webinar the Company will give an update on the market and recent events. Due to Covid-19, we have limited ability to engage investors at conferences and roadshows so we therefore organize this event which is open for all.

In order to participate in the webinar you need to pre-register by using the following link:

https://live.kinlycloud.com/stream/flexlng-event01/6ws0h0lu

Please insert conference pin code: 185000

A Q&A session will be held after the webinar. The presentation material for the webinar is attached and is also available on www.flexlng.com A replay of the webinar will be made available on www.flexlng.com subsequent to the event.

For further information, please contact: Harald Gurvin, CFO Telephone: +47 23 11 40 00

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.

Hamilton, Bermuda. May 29, 2020.

Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that the following primary insider has today acquired shares in Flex LNG:

Mr. Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, has today acquired 5,000 shares in Flex LNG at a price of NOK 41.80. Following the transaction, Mr. Kalleklev holds 45,000 shares in Flex LNG and options for a further 60,000 shares. These options have a strike price of $ 14.10 per share equivalent to about NOK 137 per share with USD/NOK 9.7 and vest equally one third over a three-year vesting period.

For more info please contact: Harald Gurvin, Chief Financial Officer. Telephone +47 23 11 40 00

 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the continuing obligations of Oslo Børs

Flex LNG – Grant of stock options

Hamilton, Bermuda, April 2, 2020 Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that 45,000 share options have been issued to Mr Ben Martin in connection with his appointment as Chief Commercial Officer of Flex LNG Management. The share options will have a five-year term and will vest equally one third over a three-year vesting period.

  •  1/3 of the stock options i.e. 15,000 options vest after 12 months with an exercise price of $5.1
  •  1/3 of the stock options i.e. 15,000 options vest after 24 months with an exercise price of $7.6
  •  1/3 of the stock options i.e. 15,000 options vest after 36 months with an exercise price of $10.2

The exercise price will be adjusted for any distribution of dividends made before the relevant options are exercised.

For more info please contact: Harald Gurvin, CFO Flex LNG Management AS Telephone +47 23 11 40 00

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the continuing obligations of Oslo Børs.

Notification of trade

Hamilton, Bermuda. March 23, 2020. Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that Nikolai Grigoriev, a board member of Flex LNG Ltd, has today acquired 16,400 shares at a price of USD 3.77. Following the transaction, Mr. Grigoriev holds 24,421 shares in Flex LNG.
For more info please contact: Harald Gurvin, Chief Financial Officer of Flex LNG Management AS. Telephone +47 23 11 40 00 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the continuing obligations of Oslo Børs.

Notification of Trade

Geveran Trading Co. Limited (“Geveran”), a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, has on 10 March 2020 acquired 135,000 shares in Flex LNG Ltd (“Flex LNG”) at a purchase price of NOK 50.1465 per share. Following the acquisition, Geveran will own 24,678,811 shares in Flex LNG which will constitute 45.61% of the shares and votes in Flex LNG. Geveran controls in addition TRS agreements with exposure to totally 825,000 shares in Flex LNG Ltd. The foregoing calculations are based on 54,110,584 outstanding shares in Flex LNG. This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.

Notification of Trade

Geveran Trading Co. Limited (“Geveran”), a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, has on 9 March 2020 acquired 310,000 shares in Flex LNG Ltd (“Flex LNG”) at a purchase price of NOK 49.7048 per share. Following the acquisition, Geveran will own 24,543,811 shares in Flex LNG which will constitute 45.36% of the shares and votes in Flex LNG. Geveran controls in addition TRS agreements with exposure to totally 825,000 shares in Flex LNG Ltd. The foregoing calculations are based on 54,110,584 outstanding shares in Flex LNG. This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.

Notification of Total Return Swap (TRS)

Geveran Trading Co. Ltd. (“Geveran”), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, has settled Total Return Swap (TRS) agreements underlying 825,000 shares in Flex LNG Ltd. expiring March 6th, 2020 and subsequently entered into a new TRS Agreement underlying the same number of shares 825,000. New expiry date is June 8th, 2020 and new TRS price is NOK 53.7425 per share. Geveran’s affiliated ownership in Flex LNG Ltd. is following this transaction unchanged 24,233,811 shares, constituting 44.79 percent of the issued share capital. Geveran controls after this in addition TRS agreements with exposure to totally 825,000 shares in Flex LNG Ltd.

Notification of trade

Geveran Trading Co. Limited (“Geveran”), a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, has on 6 March 2020 acquired 100,000 shares in Flex LNG Ltd (“Flex LNG”) at a purchase price of NOK 52.5002 per share. Following the acquisition, Geveran will own 24,233,811 shares in Flex LNG which will constitute 44.79% of the shares and votes in Flex LNG. Geveran controls in addition TRS agreements with exposure to totally 825,000 shares in Flex LNG Ltd. The foregoing calculations are based on 54,110,584 outstanding shares in Flex LNG. This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.

 

FLNG – Key information relating to the dividend for the fourth quarter, 2019

Key information relating to the dividend to be paid by Flex LNG Ltd. for the fourth quarter 2019:

Dividend amount: $0.10

Declared currency: USD

Last day including right: 9 March 2020

Ex-date: 10 March 2020

Record date: 11 March 2020

Payment date: On or about 25 March 2020

Date of approval: 25 February 2020

This information is published in accordance with the requirements of the Continuing Obligations.

Hamilton, Bermuda. February 26, 2020. Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that the following primary insiders have today acquired shares in Flex LNG:

Mr. Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, has today acquired 5,000 shares in Flex LNG at a price of NOK 60.00. Following the transaction, Mr. Kalleklev holds 40,000 shares in Flex LNG and options for a further 60,000 shares. These options have a strike price of $ 14.20 per share equivalent to about NOK 133.50 per share with USD/NOK 9.40 and vest equally one third over a three-year vesting period.

Mr. Halfdan Marius Foss, Head of Shipping and Operations of Flex LNG Management AS, has today acquired 5,000 shares in Flex LNG at a price of NOK 59.90. Following the transaction, Mr. Foss holds 6,264 shares in Flex LNG and options for a further 45,000 shares. These options have a strike price of $ 14.20 per share equivalent to about NOK 133.50 per share with USD/NOK 9.40 and vest equally one third over a three-year vesting period.

Mr. Harald Gurvin, Chief Financial Officer of Flex LNG Management AS, has today acquired 5,000 shares in Flex LNG at a price of NOK 60.00. Following the transaction, Mr. Gurvin holds 15,000 shares in Flex LNG and options for a further 30,000 shares. These options have a strike price of $ 17.50 per share equivalent to about NOK 164.50 per share with USD/NOK 9.40 and vest equally one third over a three-year vesting period.

For more info please contact: Harald Gurvin, Chief Financial Officer. Telephone +47 23 11 40 00

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the continuing obligations of Oslo Børs

Flex LNG Q4, 2019 Earnings Release

Hamilton, Bermuda Flex LNG Ltd. (“Flex LNG” or the “Company”) today reports unaudited financial results for the fourth quarter and year ended December 31, 2019.

Highlights:

  • Reported revenues of $52.0 million for the fourth quarter 2019, compared to $29.8 million for the third quarter 2019.
  • Reported net income of $23.9 million for the fourth quarter 2019, compared to a net income of $0.5 million for the third quarter 2019.
  • Average Time Charter Equivalent (“TCE”) rate of $94,000 per day for the fourth quarter 2019, compared to $58,222 per day for the third quarter 2019.
  • Adjusted EBITDA of $41.9 million for the fourth quarter 2019, compared with $21.8 million for the third quarter 2019.
  • In October 2019, Flex LNG Fleet Management AS, a related party, received the Document of Compliance qualifying the Company for in-house technical ship management services.
  • In November 2019, the Company received firm commitments from a syndicate of 11 banks and the Export-Import Bank of Korea (“KEXIM”) for a $629 million financing for five of the newbuildings scheduled for delivery in 2020. The facility agreement was signed in February 2020.
  • In November 2019, the Company entered into a long-term time-charter with Clearlake Shipping, a subsidiary of Gunvor Group, for the newbuilding Flex Artemis. The period under the charter is up to ten years, where the first five years are firm.
  • In December 2019, the Company entered into a 12-month time-charter with Endesa for the vessel Flex Ranger, with charterer’s option to extend by an additional 12 months. The firm period of the charter will expire around June 2021.
  • In January 2020, a 12-month extension option was exercised under the time-charter agreement for Flex Enterprise, giving a firm period until the end of the first quarter 2021.
  • Further strengthening of the commercial team with the appointment of Ben Martin as Chief Commercial Officer, who will join Flex LNG on or about April 1, 2020.
  • The Board of Directors has declared a cash dividend for the fourth quarter of $0.10 per share.

Øystein M Kalleklev, CEO of Flex LNG Management AS, commented:

“2019 was an eventful and productive year for Flex LNG. We continue to build our organization with exceptional people, most recently with today’s announcement of the recruitment of Ben Martin who will join us from Trafigura as our Chief Commercial Officer.  Furthermore, we are taking a greater responsibility of the management of our fleet with Flex LNG Fleet Management currently managing four of our six vessels on water. Ship management continues to perform excellent with no loss time injuries recorded for the second year in a row.

We took delivery of two LNG carriers in June and August 2019, and these two vessels were put directly into a strong spot market in the second half of 2019. Given the fact that we positioned our fleet for a stronger winter market we were able to achieve trading results in fourth quarter of 2019 similar to what we did in the fourth quarter of 2018, when rates were at all-time high. We are thus pleased to announce the best-ever financial results for Flex LNG with net income of around $24 million for the fourth quarter. Based on fixtures to date, we anticipate the TCE for the first quarter 2020 to be close to $70,000 per day, despite the demand slump in the first quarter due to a record warm winter and the recent coronavirus outbreak.

We are also pleased that several of our charterers are returning customers, with recent contract extensions for both Flex Ranger and Flex Enterprise, as well as the long-term charter announced with Gunvor for the newbuilding Flex Artemis due for delivery this summer. During the year we were also successful in securing about $1.3bn of attractive long-term financing, which boosted our liquidity position and enables us to run our ships at industry low cash break-even levels.

Due to the uncertainty and disruptions created by the coronavirus and associated low gas prices, we have elected to be cautious by maintaining a $0.10 dividend for the fourth quarter, and for the time being rather preserve liquidity, which stood at close to $130 million at year-end. This gives us a comfortable financial position to handle the current market situation. While the freight and gas markets are currently challenging, LNG continues to be a long term story with expected annual growth of around 3 to 4 per cent for the next two decades as natural gas, and to greater extent LNG, is the transition fuel for a cleaner and more sustainable future.”

Fourth Quarter 2019 Result Presentation

Flex LNG will release its financial results for the fourth quarter 2019 on Wednesday February 26, 2020.

In connection with the earnings release, a webcast and conference call will be held at 3:00 p.m. CET (9:00 a.m EST). In order to attend the webcast and/or conference call you may do one of the following:

Attend by Webcast:

Use to the follow link prior to the webcast: https://edge.media-server.com/mmc/p/7yprvtvc

Attend by Conference Call:

Applicable dial-in telephone numbers are as follows:

Norway: +47 21 56 31 62

United Kingdom: +44 (0) 203 0095710

United Kingdom (local): 0844 493 3857

United States (Toll Free): +1 866 869 2321

Confirmation Code: 1758646

The presentation material which will be used in the teleconference/webcast can be downloaded on www.flexlng.com and replay details will also be available at this website.

For further information, please contact:

Harald Gurvin, CFO

Telephone: +47 23 11 40 09

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.

Attachment

NOTIFICATION

Geveran Trading Co. Ltd. (“Geveran”), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, has settled Total Return Swap (TRS) agreements underlying 825,000 shares in Flex LNG Ltd. expiring December 6th, 2019 and subsequently entered into a new TRS Agreement underlying the same number of shares 825,000. New expiry date is March 6th, 2020 and new TRS price is NOK 87.8039 per share. Geveran’s affiliated ownership in Flex LNG Ltd. is following this transaction unchanged 24,133,811 shares, constituting 44.60 percent of the issued share capital. Geveran controls after this in addition TRS agreements with exposure to totally 825,000 shares in Flex LNG Ltd

FLNG – Notification of trade primary insider

Hamilton, Bermuda. November 27, 2019. Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that Mr. Harald Gurvin, Chief Financial Officer of Flex LNG Management AS, has today acquired 3,000 shares in Flex LNG at a price of NOK 85.50. Following the transaction, Mr. Gurvin holds 10,000 shares in Flex LNG and options for a further 30,000 shares. These options have a strike price of $ 17.6 per share equivalent to about NOK 161 per share with USD/NOK 9.17 and vest equally one third over a three-year vesting period.
For more info please contact: Harald Gurvin, Chief Financial Officer. Telephone +47 23 11 40 00
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the continuing obligations of Oslo Børs