Wednesday February 24, 2010

24.02.2010 09:18

This is to inform that Mr. Aoki Hiromichi, 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. Aoki Hiromichi is a Executive Officer in Kawasaki Kisen Kaisha Ltd., and in accordance with an agreement with Mr. Aoki Hiromichi the shares will be issued to Kawasaki Kisen Kaisha Ltd. After the issue of these shares, Kawasaki Kisen Kaisha Ltd. will have a holding of 16,937,004 shares in the Company, representing 15.00 % of the total shares outstanding.