28.10.2014 08:00

 

 

Road Town, Tortola, 28 October 2014. FLEX LNG (Oslo Axess: FLNG) the Board of Directors of FLEX LNG is pleased to announce that it has agreed terms with Metrogas Holdings Inc. (an affiliate of Geveran Trading Co. Ltd) for a working capital loan of $7m. The Company expects to draw the loan shortly, once all documentation has been completed. The Company expects that the loan will cover approximately 18 months of working capital, on current budgeted expenditures. The agreement has been negotiated on an arm’s length basis and is within the exemption under article 13.1 (b) of the Company’s Memorandum of Association, for related party transactions.