Avance Gas Holding Ltd: Successfully completed the eighth VLGC delivery to BW LPG

GlobeNewswire

2024-12-10

Hamilton, Bermuda. December 9, 2024

Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd ("BW LPG" or "Buyer") for $1,050 million.

Today Avance Gas announces the eighth VLGC delivery, the 2022-built dual-fuel vessel, Avance Polaris. Avance Polaris was under a sale-leaseback agreement and a Time Charter agreement, both of which have been successfully novated to the Buyer. In connection with the delivery, 2.1 million shares in BW LPG were issued by the Buyer to Avance Gas. Additionally, outstanding lease obligation of $64.4 million have been novated to BW LPG and Avance Gas received net cash proceeds of approximately $13.5 million. Following the delivery, Avance Gas owns 13.091 million shares in BW LPG corresponding to a 8.55% ownership share. These consideration shares have a lock-up period of 40 days from the issuance date as previously announced.

The four remaining vessels are scheduled for delivery to BW LPG later in December 2024. Avance Gas will issue press releases in connection with the remaining deliveries.

For further queries, please contact:
Media contact: Øystein Kalleklev, CEO Tel: +47 23 11 40 00
Investor and Analyst contact: Randi Navdal Bekkelund, CFO Tel: +47 23 11 40 00

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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December 9, 2024 <br/></p>\n<p><a href=\"https://laohu8.com/S/AVACF\">Avance Gas Holding Ltd.</a> («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (\"BW LPG\" or \"Buyer\") for $1,050 million. </p>\n<p>Today Avance Gas announces the eighth VLGC delivery, the 2022-built dual-fuel vessel, Avance Polaris. Avance Polaris was under a sale-leaseback agreement and a Time Charter agreement, both of which have been successfully novated to the Buyer. In connection with the delivery, 2.1 million shares in BW LPG were issued by the Buyer to Avance Gas. Additionally, outstanding lease obligation of $64.4 million have been novated to BW LPG and Avance Gas received net cash proceeds of approximately $13.5 million. Following the delivery, Avance Gas owns 13.091 million shares in BW LPG corresponding to a 8.55% ownership share. These consideration shares have a lock-up period of 40 days from the issuance date as previously announced. </p>\n<p>The four remaining vessels are scheduled for delivery to BW LPG later in December 2024. Avance Gas will issue press releases in connection with the remaining deliveries. </p>\n<p>For further queries, please contact: <br/>Media contact: Øystein Kalleklev, CEO Tel: +47 23 11 40 00<br/>Investor and Analyst contact: Randi Navdal Bekkelund, CFO Tel: +47 23 11 40 00 <br/><br/></p>\n<p>This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act</p>\n<br/></body></html>","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Avance Gas Holding Ltd: Successfully completed the eighth VLGC delivery to BW LPG</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAvance Gas Holding Ltd: Successfully completed the eighth VLGC delivery to BW LPG\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">GlobeNewswire</strong><span class=\"h-time small\">2024-12-10 07:01</span>\n</p>\n</h4>\n</header>\n<article>\n<html><body><img hspace=\"5\" src=\"https://s1.yimg.com/uu/api/res/1.2/JasTIyWWFXnT9_u0ck6DXw--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/globenewswire.com/0643318675359ab2da9e237e8808957b\" title=\"logo.jpg\" vspace=\"5\"/>\n<p>Hamilton, Bermuda. December 9, 2024 <br/></p>\n<p><a href=\"https://laohu8.com/S/AVACF\">Avance Gas Holding Ltd.</a> («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (\"BW LPG\" or \"Buyer\") for $1,050 million. </p>\n<p>Today Avance Gas announces the eighth VLGC delivery, the 2022-built dual-fuel vessel, Avance Polaris. Avance Polaris was under a sale-leaseback agreement and a Time Charter agreement, both of which have been successfully novated to the Buyer. In connection with the delivery, 2.1 million shares in BW LPG were issued by the Buyer to Avance Gas. Additionally, outstanding lease obligation of $64.4 million have been novated to BW LPG and Avance Gas received net cash proceeds of approximately $13.5 million. Following the delivery, Avance Gas owns 13.091 million shares in BW LPG corresponding to a 8.55% ownership share. These consideration shares have a lock-up period of 40 days from the issuance date as previously announced. </p>\n<p>The four remaining vessels are scheduled for delivery to BW LPG later in December 2024. Avance Gas will issue press releases in connection with the remaining deliveries. </p>\n<p>For further queries, please contact: <br/>Media contact: Øystein Kalleklev, CEO Tel: +47 23 11 40 00<br/>Investor and Analyst contact: Randi Navdal Bekkelund, CFO Tel: +47 23 11 40 00 <br/><br/></p>\n<p>This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act</p>\n<br/></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/avance-gas-holding-ltd-successfully-230100647.html\">GlobeNewswire</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LPG","symbol_name":"Dorian LPG","start_time":0,"source_url":"https://finance.yahoo.com/news/avance-gas-holding-ltd-successfully-230100647.html","article_id":"2490082152","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/C6tCYLQRfOLS.MIZpdEtyA--~B/aD04Mjt3PTI4OTthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/globenewswire.com/33865f4d8c3f725ee362a2c42c3fc7fd"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490082152","pubTimestamp":1733785260,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Avance Gas Holding Ltd.   refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd  for $1,050 million.Today Avance Gas announces the eighth VLGC delivery, the 2022-built dual-fuel vessel, Avance Polaris. Avance Polaris was under a sale-leaseback agreement and a Time Charter agreement, both of which have been successfully novated to the Buyer. In connection with the delivery, 2.1 million shares in BW LPG were issued by the Buyer to Avance Gas. Additionally, outstanding lease obligation of $64.4 million have been novated to BW LPG and Avance Gas received net cash proceeds of approximately $13.5 million. Following the delivery, Avance Gas owns 13.091 million shares in BW LPG corresponding to a 8.55% ownership share. These consideration shares have a lock-up period of 40 days from the issuance date as previously announced.The four remaining vessels are scheduled for delivery to BW LPG later in December 2024. Avance Gas will issue press releases in ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LPG":"Dorian LPG","BK4585":"ETF&股票定投概念","BK4588":"碎股","BW":"Babcock & Wilcox Enterprises Inc","AVACF":"Avance Gas Holding Ltd.","BK4144":"石油与天然气的储存和运输","BK4182":"重型电气设备"},"translate_title":"Avance Gas Holding Ltd：成功完成向BW LPG交付的第八艘VLGC","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVACF":0.9,"BW":1,"LPG":1},"content_text":"Hamilton, Bermuda. December 9, 2024 \nAvance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd (\"BW LPG\" or \"Buyer\") for $1,050 million. \nToday Avance Gas announces the eighth VLGC delivery, the 2022-built dual-fuel vessel, Avance Polaris. Avance Polaris was under a sale-leaseback agreement and a Time Charter agreement, both of which have been successfully novated to the Buyer. In connection with the delivery, 2.1 million shares in BW LPG were issued by the Buyer to Avance Gas. Additionally, outstanding lease obligation of $64.4 million have been novated to BW LPG and Avance Gas received net cash proceeds of approximately $13.5 million. Following the delivery, Avance Gas owns 13.091 million shares in BW LPG corresponding to a 8.55% ownership share. These consideration shares have a lock-up period of 40 days from the issuance date as previously announced. \nThe four remaining vessels are scheduled for delivery to BW LPG later in December 2024. Avance Gas will issue press releases in connection with the remaining deliveries. \nFor further queries, please contact: Media contact: Øystein Kalleklev, CEO Tel: +47 23 11 40 00Investor and Analyst contact: Randi Navdal Bekkelund, CFO Tel: +47 23 11 40 00 \nThis information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}