Thursday August 26, 2010

26.08.2010 08:36

http://www.newsweb.no/index.jsp?messageId=266292

Ian Beveridge

This is to inform that Mr. Ian Beveridge, a board member of FLEX LNG Ltd, has been allotted 17,412 ordinary shares to be issued by Flex LNG Ltd as part of his remuneration for the first half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.4846 for the first 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 21 July 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 5,666,019 shares in the Company, representing 5.01% of the total shares outstanding. Mr. Ian Beveridge also holds 250,000 shares in a personal capacity.

Anders Westin

This is to inform that Mr. Anders Westin a board member of FLEX LNG Ltd, has been allotted 17,412 ordinary shares to be issued by Flex LNG Ltd as part of his remuneration for the first half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.4846 for the first 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 21 July 2010.

After the issue of these shares, Mr. Westin will have a holding of 39,585 shares in the Company, representing 0.04% of the total shares outstanding. Mr. Westin is a managing director of HBK. Funds managed by HBK own 14,996,167 shares of Flex LNG, which equals 13.27% 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 17,412 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the first half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.4846 for the first 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 21 July 2010.

After the issue of these shares, Mr. Philip Fjeld will have a holding of 40,083 shares in the Company, representing 0.04% of the total shares outstanding, and Mr. Philip Fjeld and his related parties have a holding of 96,083 shares (representing 0.08% 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 17,412 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the first half of 2010. The shares constitute a total remuneration of USD 12,500, based on a price per share of NOK 4.4846 for the first 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 21 July 2010.

After the issue of these shares Mr. James van Hoften will have a holding of 40,083 shares in the Company, representing 0.04% 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 27,859 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the first half of 2010. The shares constitute a total remuneration of USD 20,000, based on a price per share of NOK 4.4846 for the first 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 21 July 2010.

After the issue of these shares, Capt. James MacHardy will have a holding of 62,537 shares in the Company, representing 0.06% of the total shares outstanding.