GOLAR LNG SEEKS DELISTING FROM OSLO STOCK EXCHANGE
(Thomson Reuters ONE) -
Golar LNG Limited ("Golar LNG" or the "Company") has maintained a dual listing
for several years. The Company's shares were originally listed on the Oslo Stock
Exchange in July 2001 and were subsequently listed on NASDAQ in the US in
December 2002. Throughout this period the Board has continuously monitored the
benefit of having two separate listings.
It has been observed in recent years that an increasing part of the trading in
the Company's stock has taken place in New York, while only limited volumes have
traded in Norway. The concentration in the US is further supported by the fact
that less than 18 % of the total shares, excluding World Shipholding, are
currently held in the Norwegian VPS system.
The Board has concluded, supported by these facts, that there are limited
benefits in continuing with two separate listings. It is clear that a single
listing on NASDAQ and a delisting from Oslo Stock Exchange will lead to
significant cost reductions, clearer regulatory requirements, a simplified
filing process and most likely increased trading volume in the US as a function
of the concentration of trading.
The Board of Golar LNG will in the near term call for an extraordinary
shareholder meeting ("EGM") in order to get shareholder support for a delisting
from the Oslo Stock Exchange. In accordance with Oslo Stock Exchange rules, such
a delisting will need support from two thirds of the shareholders present at the
EGM. Golar's major shareholder, World Ship Holding which owns 45.8 %, will vote
in favour of the delisting. (It is Golar LNG's intention to try to compensate
any direct transaction costs that Norwegian based shareholders will have in
converting their VPS shares into shares tradable in the US.)
The Board of Directors
Golar LNG Limited
Hamilton, Bermuda
April 27, 2012
Questions should be directed to:
Tor Olav Troim - Director
+44 207 824 5530
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golar LNG via Thomson Reuters ONE
[HUG#1606842]
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Datum: 27.04.2012 - 06:38 Uhr
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