5 April 2024 – With reference to stock exchange releases dated 8 April 2019 and 30 March 2023.
In relation to BW Offshore’s (the “Company”) Long-Term Incentive Programme (LTIP) adopted in 2019, the Company’s exposure relating to the 2019 award was hedged by a Total Return Swap (“TRS”) agreement with financial exposure to 1 732 000 shares in BW Offshore.
The Company has today settled the TRS agreement underlying 1 732 000 shares in BW Offshore expiring 5 April 2024. The Company has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares in BW Offshore with expiry date 4 April 2025 and a TRS price of NOK 28.25 per underlying share.
For further information, please contact:
Ståle Andreassen, CFO, +47 91 71 86 55
[email protected] or www.bwoffshore.com
About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of 5 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,200 employees and is publicly listed on the Oslo Stock Exchange.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.