BW LPG: Information about the proposed redomiciling to Singapore – Distribution of Practice Statement Letter
03 Maio 2024 - 2:00AM
Business Wire
The board of directors of BW LPG Limited ("BW LPG” or the
"Company") propose to implement a scheme of arrangement (the
"Scheme") between the Company and its shareholders pursuant
to Section 99 of the Bermuda Companies Act 1981 as amended (the
"Bermuda Companies Act”) in order to effect a discontinuance
of the Company from Bermuda and continuance to Singapore in
accordance with the provisions of Section 132G of the Bermuda
Companies Act and Part 10A of the Singapore Companies Act 1967 (the
"Redomiciliation").
There will be a hearing on 15 May 2024 at 9:30 a.m. (Bermuda
time) at which the Supreme Court of Bermuda will be asked to give
directions as to the convening of a meeting of shareholders of the
Company that are eligible to vote on the Scheme.
Please see the attached practice statement letter for further
information about the proposed Scheme and the court hearing which
has been distributed to the shareholders today. Further information
about the Scheme and the effects of the Redomiciliation will be
made available to the shareholders following the court hearing.
Subject to the Scheme being effective, the proposed
Redomiciliation will be carried out by way of a discontinuance and
continuance process, whereby the Company is continued into
Singapore as the same company. Under Singapore law, the transfer of
domicile will be a direct redomiciliation from Bermuda, and the
Company will accordingly have the same assets and liabilities as
prior to redomiciling. The board of directors and the management of
the Company will also remain the same.
The Company’s name BW LPG and ticker on the Oslo Stock Exchange
and the New York Stock Exchange will remain the same after the
Redomiciliation. Following the Redomiciliation, the Company will
have a new company registration number and the Company’s shares
will have a new CUSIP and a new ISIN code, but the Company will
retain its LEI code. The Company's registered office will be the
current office address in Singapore, 10 Pasir Panjang Road, #17-02,
Mapletree Business City, Singapore 117438.
The effective date of the Redomiciliation is expected to be in
Q3 2024.
About BW LPG
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, experienced employees and an
in-house LPG trading division, BW LPG offers an integrated,
flexible, and reliable service to customers. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502480316/en/
Samantha Xu Chief Financial Officer E-mail:
samantha.xu@bwlpg.com
BW LPG (NYSE:BWLP)
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