Geveran Trading Co. Ltd. (“Geveran”), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, has on September 6th 2018 sold 7,440,000 shares in Flex LNG Limited (“Flex LNG”) at a price of NOK 12.15 per share and subsequently entered into a Total Return Swap (“TRS”) agreement with underlying exposure to 7,440,000 shares in Flex LNG.Expiry date for the TRS agreement is December 6th 2018, and the TRS price is NOK 12.21 per share.
Further, Geveran has settled a TRS agreement with underlying exposure to 810,000 shares in Flex LNG expiring September 6th, 2018, and subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. The new expiry date for the TRS agreement is December 6th, 2018, and the new TRS price is NOK 12.21 per share.
Geveran’s affiliated ownership Flex LNG following these transactions is 183,691,803 shares, equal to 49.91 percent of the issued shares and votes in the company. In addition, Geveran holds TRS agreements with underlying exposure to 8,250,000 shares in Flex LNG. Geveran does not hold other shares or rights to shares in Flex LNG.
This disclosure is made pursuant to section 4-2 and 4-3 of the Norwegian Securities Trading Act.