25.02.2010 08:00

http://www.newsweb.no/index.jsp?messageId=254940

Mr. Ian Beveridge, a board member of FLEX LNG Ltd, was on 23 February 2010 allotted 11,593 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the second half of 2009, in addition to 10,081 shares previously allotted for the first half of 2009. The shares constitute a total remuneration of USD 25,000, based on a price per share of NOK 7.54 for the first half of 2009 and NOK 6.14 for the second half of 2009. The price per share is calculated on the basis of the volume weighted average trading price of the Company’s shares over a period of ten consecutive trading days ending on the day of the settlement, being 19 August 2009 and 5 January 2010.

Mr. Ian Beveridge is a director in Bernhard Schulte Investment Holding, and in accordance with an agreement with Mr. Ian Beveridge the shares will be issued to Bernhard Schulte Investment Holding. After the issue of these shares, Bernhard Schulte Investment Holding will have a holding of 5,648,607 shares in the Company, representing 5.00 % of the total shares outstanding.