Monday February 7, 2011

07.02.2011 18:00

http://www.newsweb.no/index.jsp?messageId=275479

Ian Beveridge

 This is to inform that Mr. Ian Beveridge, a board member of FLEX LNG Ltd, has been allotted 15,642 ordinary shares to be issued by Flex LNG Ltd as part of his remuneration for the second half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.7690 for the second half of 2010. 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 remuneration settlement, being 10 January 2011.

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 5,681,661 shares in the Company, representing 5.02 % of the total shares outstanding. Mr. Ian Beveridge also holds 250,000 shares in a personal capacity.

Scott Pearl

This is to inform that Mr. Scott Pearl, a board member of FLEX LNG Ltd, has today been allotted 15,642 ordinary shares to be issued by Flex LNG Ltd as part of his remuneration for the second half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.7690 for the second half of 2010. 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 remuneration settlement, being 10 January 2011.

After the issue of these shares, Mr. Pearl will have a holding of 482,725 shares in the Company, representing approximately 0.43% of the total shares outstanding.

Anders Westin

This is to inform that Mr. Anders Westin a board member of FLEX LNG Ltd, has been allotted 15,642 ordinary shares to be issued by Flex LNG Ltd as part of his remuneration for the second half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.7690 for the second half of 2010. 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 remuneration settlement, being 10 January 2011.

After the issue of these shares, Mr. Westin will have a holding of 55,227 shares in the Company, representing 0.05% of the total shares outstanding. Mr. Westin is a managing director of HBK Europe Management L.L.P. Funds managed by HBK own 14,996,167 shares of Flex LNG, which equals 13.25% of the company. Mr. Westin and HBK have no written voting agreement with regard to the shares of Flex LNG owned by either Mr. Westin or HBK.

Philip Fjeld

This is to inform that Mr. Philip Fjeld, a board member of FLEX LNG Ltd, has been allotted 15,642 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the second half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.7690 for the second half of 2010. 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 remuneration settlement, being 10 January 2011.

After the issue of these shares, Mr. Philip Fjeld will have a holding of 55,725 shares in the Company, representing 0.05 % of the total shares outstanding, and Mr. Philip Fjeld and his related parties have a holding of 111,725 shares (representing 0.10% of the shares outstanding).

James van Hoften

This is to inform that Mr. James van Hoften, a board member of FLEX LNG Ltd, has been allotted 15,642 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the second half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.7690 for the second half of 2010. 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 remuneration settlement, being 10 January 2011.

After the issue of these shares Mr. James van Hoften will have a holding of 55,725 shares in the Company, representing 0.05 % of the total shares outstanding.

James MacHardy

This is to inform that Capt. James MacHardy, the Chairman of the Board of Directors of FLEX LNG Ltd, has been allotted 25,027 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the second half of 2010. The shares constitute a total remuneration of USD 20,000, based on a price per share of NOK 4.7690 for the second half of 2010. 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 remuneration settlement, being 10 January 2011.

 

After the issue of these shares, Capt. James MacHardy will have a holding of 87,564 shares in the Company, representing 0.08 % of the total shares outstanding.