11 October 2013. FLEX LNG (Oslo Axess: FLNG) announced on 2 September 2013 that it has settled the dispute with Samsung Heavy Industries and that two LNG Carriers have been ordered.
Following the dispute settlement, FLEX LNG will work towards securing employment for the LNG Carriers and continue its preparations to manage the construction process.
FLEX LNG’s Board of Directors has decided to commence a process to explore strategic alternatives that are available to the company. The outcome of such a process may be, inter alia, FLEX LNG being part of a business combination ; a full or partial sale of the company or its assets ; or FLEX LNG entering into a strategic partnership with a third party. The company expects to have reached a resolution to the strategic process within Q1 2014.
Arctic Securities ASA has been retained to assist the Board of Directors in evaluating strategic alternatives.
Jostein Ueland, tel: +44 797 615 9994
Jørgen Heszlein, tel.: +47 4840 3123
Knut Malterud, tel.: +47 4840 3111