This is to inform that Capt. James MacHardy, the Interim Chairman of the Board of Directors of FLEX LNG Ltd, has today been allotted 18,549 ordinary shares to be issued by FLEX LNG Ltd as part of his remuneration for the second half of 2009, in addition to 16,129 shares previously allotted for the first half of 2009. The shares constitute a total remuneration of USD 40,000, 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, Capt. James MacHardy will have a holding of 34,678 shares in the Company, representing 0.03 % of the total shares outstanding.