Wednesday February 24, 2010

24.02.2010 08:15   

This is to inform that Mr. Philip Fjeld, 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. Philip Fjeld  will have a holding of 22,671 shares in the Company, representing 0.02 % of the total shares outstanding, and Mr. Philip Fjeld and his related parties have a holding of 78,671 shares (representing 0.07% of the  shares outstanding).