16.05.2011 09:11

 

 

Reference is made to the Extraordinary General Meeting of Flex LNG Ltd. (“Flex”) held on 28 April 2011. Pursuant to the Extraordinary General Meeting’s adoption, as disclosed the day the meeting was held, InterOil Finance Inc. (“InterOil”) has today issued notice requiring Flex LNG Ltd. to issue a total of 8,838,913 common shares within 10 business days at a price of 4.711 NOK per share.  InterOil does not hold any Flex shares prior to this share issue and, following the issue, will hold 7.24% of Flex’s issued common shares. InterOil holds certain rights to acquire further shares in Flex pursuant to the terms of a Framework Agreement between InterOil’s parent company, Flex and certain other parties. The right  is held jointly with another party and may, in certain circumstances, allow InterOil and that other party to acquire, over a nine month period commencing on or before a final investment decision referred to in that Framework Agreement, Flex common shares totaling up to a further 20% of the shares on issue at the time of acquisition.