Thursday February 3, 2011

03.02.2011 08:00

Road Town, Tortola, 3 February 2011. FLEX LNG (Oslo Axess: FLNG) is pleased to announce that in accordance with the resolution by the shareholders at the annual shareholders meeting of FLEX LNG Ltd (“Flex LNG” or the “Company”) held on 25 May 2010, the Board of Directors of FLEX LNG has resolved to issue 118,879 new shares to the members of the Board of Directors, as part of their remuneration for the second half of 2010. The shares will be issued and registered as soon as possible. The shares resolved to be issued to the members of the Board of Directors constitute a total remuneration of USD 95,000, based on a price per share of NOK 4.7690. 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 10 January 2011. After the issue of shares in accordance with the resolutions described above, the share capital of FLEX LNG will be USD 1,131,621.22, divided into 113,162,122 shares, each with a par value of USD 0.01.