January 28, 2011 05:38 ET

Golar LNG - Share Options Exercise and Amendments

HAMILTON, BERMUDA--(Marketwire - January 28, 2011) - In January 2006 Golar LNG Limited ("Golar" or "the Company") issued options to employees and directors of the Company with a five year term expiring in January 2011. It has been resolved to extend the maturity of these options for relevant Board members and Management by two years from January 2011. The extension is to align the long-term interests of shareholders with the Board and Management.

Mr. John Fredriksen, Chairman of the Board, President and Director of Golar has exercised 300,000 share options in Golar. The options have a strike price of $10.37 per share. Mr. Fredriksen has sold the same shares at NOK 100.50 per share.

An affiliated party of Mr. Fredriksen, World Shipholding, has subsequently purchased a TRS agreement in respect of the same number of shares. The TRS agreement matures August 24, 2011 and has a strike price of NOK 102.82. After this transaction World Shipholding, a company indirectly controlled by trusts established by Mr. Fredriksen for the benefit of his immediate family, owns 31,203,900 shares and has TRS agreements with exposure to a further 500,000 shares. Mr. Fredriksen's and World Shipholding's effective combined exposure to Golar LNG stock remain unchanged after these transactions.

Option holder Mr. Tor Olav Troim has exercised 150,000 share options in Golar with a strike price of $10.37 per share. Through Drew Investments Ltd., a company controlled by Mr. Troim, he has acquired the shares and therefore remains the holder.

Primary Insiders have been granted extensions of option exercise period as noted above as follows:

| Kate Blankenship | 75,000 |
| Graham Robjohns  | 75,000 |

Total holdings of these primary insiders after this amendment are:

|                  | Options | Shares |
| Kate Blankenship | 75,000  | 6,500  |
| Graham Robjohns  | 175,000 | 2,500  |

A further 246,834 options have also been exercised by employees who are non- primary insiders. These options have been exercised at a strike price of $10.48.

Golar LNG has sold 150,000 treasury shares in relation to these option exercises and after these transactions does not own any of its own shares.

The total outstanding number of shares in Golar after these options have been exercised is 68,123,700.

January 27, 2010
The Board of Directors
Golar LNG Limited
Hamilton, Bermuda.

This information is subject of the disclosure requirements acc. to §5- 12 vphl (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


Contact Information

  • Graham Robjohns
    Chief Accounting Officer & Group Financial Controller
    Tel: +44 20 7517 8600