Road Town, Tortola, 27 April 2012. FLEX LNG (Oslo Axess: FLNG) is pleased to announce that the 2011 financial report and accounts was approved by the Board of Directors on 26 April 2012. As foreshadowed in the Company’s Q4 2011 report, the Board has approved an impairment as at the 2011 yearend of $112m on the Company’s asset carrying values. Negotiations for the restructuring of existing contracts are still ongoing and apart from the said impairment, there have been no substantial changes to the Company’s accounts since the Q4 final report.
Friday April 27, 2012