SINGAPORE, August 30, 2024--(BUSINESS WIRE)--With reference to the press release on 15 July 2024 for the accelerated vesting of options granted on 1 March 2022 under "LTIP 2022", on 29 August 2024, primary insiders of BW LPG Limited ("BW LPG" or the "Company", OSE ticker code: "BWLPG.OL", NYSE ticker code "BWLP") have exercised these vested options and sold shares in BW LPG in the market. More details about the accelerated vesting of options can be found at: https://www.bwlpg.com/media/press-release/bw-lpg-limited-accelerated-vesting-of-ltip-2022-options/
The exercised options were settled by the Company by transfer of treasury shares. Following the transfer, the Company will hold 7,743,557 treasury shares.
The exercise of vested options and sale of shares by the primary insiders are as set out below:
Prodyut Banerjee, Vice President and Head of Operations
Options (granted in 2022) exercised, each having a strike price of NOK 0.7457: 24,840
Total number of shares held following the option exercise: 24,840
Number of shares sold: 24,840
Average price sold at: NOK 161.1115 per share
Number of shares held following the sale: 0
Knut-Helge Knutsen, Vice President and Head of Technical
Options (granted in 2022) exercised, each having a strike price of NOK 0.7457: 24,840
Total number of shares held following the option exercise: 24,840
Iver Baatvik, Vice President and Head of Corporate Development
Options (granted in 2022) exercised, each having a strike price of NOK 0.7457: 24,840
Total number of shares held following the option exercise: 24,840
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at https://www.bwlpg.com.
BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 490 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Prodyut Banerjee
2
Reason for the notification
a)
Position/status
Vice President and Head of Operations
b)
Initial notification/Amendment
Initial notification
3
Details of issuer
a)
Name
BW LPG Ltd
b)
LEI
5493006WBEME88YFDW23
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
b)
Nature of the transaction
Exercise of options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
c)
Price(s) and volume(s)
Price(s) Volume(s)
NOK 0.7457 24,840
d)
Aggregated information
- Aggregated Volume
- Price
Exercise of 24,840 options for a total of NOK 18,523.
e)
Date of the transaction
2024-08-29
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Knut-Helge Knutsen
2
Reason for the notification
a)
Position/status
Vice President and Head of Technical
b)
Initial notification/Amendment
Initial notification
3
Details of issuer
a)
Name
BW LPG Ltd
b)
LEI
5493006WBEME88YFDW23
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
b)
Nature of the transaction
Exercise of options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
c)
Price(s) and volume(s)
Price(s) Volume(s)
NOK 0.7457 24,840
d)
Aggregated information
- Aggregated Volume
- Price
Exercise of 24,840 options for a total of NOK 18,523.
e)
Date of the transaction
2024-08-29
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Iver Baatvik
2
Reason for the notification
a)
Position/status
Vice President and Head of Corporate Development
b)
Initial notification/Amendment
Initial notification
3
Details of issuer
a)
Name
BW LPG Ltd
b)
LEI
5493006WBEME88YFDW23
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
b)
Nature of the transaction
Exercise of options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
c)
Price(s) and volume(s)
Price(s) Volume(s)
NOK 0.7457 24,840
d)
Aggregated information
- Aggregated Volume
- Price
Exercise of 24,840 options for a total of NOK 18,523.
e)
Date of the transaction
2024-08-29
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Prodyut Banerjee
2
Reason for the notification
a)
Position/status
Vice President and Head of Operations
b)
Initial notification/Amendment
Initial notification
3
Details of issuer
a)
Name
BW LPG Ltd
b)
LEI
5493006WBEME88YFDW23
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Shares in BW LPG Ltd (ISIN SGXZ69436764)
b)
Nature of the transaction
Sale of shares in BW LPG Ltd (ISIN SGXZ69436764)
c)
Price(s) and volume(s)
Price(s) Volume(s)
NOK 161.1115 24,840
d)
Aggregated information
- Aggregated Volume
- Price
Sale of 24,840 shares for a total of NOK4,002,010.
