24.02.2010 08:19

http://www.newsweb.no/index.jsp?messageId=254831  

This is to inform that Mr. Anders Westin a board member of FLEX LNG Ltd, has today been 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. 

After the issue of these shares, Mr. Westin will have a holding of 22173 shares in the Company, representing 0.02% of the total shares outstanding.

Mr. Westin is a managing director of HBK.  Funds managed by HBK owns 14,996,167 shares of Flex LNG, which equals 13.28% 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.