Wednesday, 25 June 2014
Keppel Shipyard's conditional contract with Golar LNG
Singapore, 25 June 2014 - With reference to the announcement dated 24 June 2014 by Golar LNG Limited (Golar LNG) on the launch of the offering of its common stock, we wish to confirm that Keppel Shipyard Ltd (Keppel Shipyard), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has signed a conditional contract with Golar Hilli Corporation, a subsidiary of Golar LNG, to perform the world’s first-of-its-type conversion of an existing Moss LNG carrier, the Hilli, into a Floating Liquefaction Vessel (FLNGV).
This contract will become effective upon the fulfilment of several conditions precedent, including the receipt by Keppel Shipyard of the initial milestone payment.
We will make a further announcement when the contract becomes effective.
The aforementioned contract is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corporation Limited for the current financial year.
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Golar LNG Limited Launches Public Follow-On Offering of its Common Stock
ReplyDeleteHamilton, Bermuda - (June 24, 2014) - Golar LNG Limited (the "Company") (NASDAQ: GLNG) announced today the commencement of a registered offering of 11,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,650,000 common shares to cover over-allotments. The proceeds of the offering are expected to be used to (i) fully fund initial milestone payments under a conditional agreement (the "Conversion Agreement") with Singapore's Keppel Shipyard Limited in connection with the conversion of an LNG carrier, the Hilli, to a floating liquefaction natural gas vessel and (ii) partly fund other future scheduled payments under the Conversion Agreement. Depending on the timing of these future scheduled payments, the Company may temporarily invest the remaining funds on a short-term basis or use the funds for other general corporate purposes.
BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley and RS Platou Markets AS are acting as joint book-running managers and Arctic Securities, DNB Markets, Fearnley Securities and Pareto Securities are acting as co-managers in the offering.