Höegh LNG has issued an announcement referencing Höegh LNG Holdings Ltd's stock exchange notices where the company announced its Stock Option Program for senior management and key employees dated 2 February 2012 (Round 1) and 4 February 2014 (Round 2).
Höegh LNG has confirmed that one option holder has exercised 11,332 options with a strike price of NOK 50.56 (adjusted for dividends in accordance with the stock option agreement) granted to the option holder in Round 1. The company has resolved to settle the value of the exercised options in kind by the issuance of 6639 new shares at par value to the option holder.
Following the issuance of the new shares, the issued share capital of Höegh LNG will be US$768,292.36 consisting of 76,829,236 fully paid common shares, each with a par value of US$0.01.
As per 20 October 2015, a total of 703,012 options are outstanding in Round 1 and 1,384,000 options in Round 2.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/23102015/hoegh-lng-management-stock-option-plan-1519/