Hamilton, Bermuda - (June 24,
2014) - Golar LNG Limited (the "Company") (NASDAQ: GLNG) announced
today the commencement of a registered offering of 11,000,000
shares of its common stock. The Company expects to grant the
underwriters a 30-day option to purchase up to an additional
1,650,000 common shares to cover over-allotments. The
proceeds of the offering are expected to be used to (i) fully fund
initial milestone payments under a conditional agreement (the
"Conversion Agreement") with Singapore's Keppel Shipyard Limited in
connection with the conversion of an LNG carrier, the Hilli, to a floating liquefaction natural gas vessel
and (ii) partly fund other future scheduled payments under the
Conversion Agreement. Depending on the timing of these future
scheduled payments, the Company may temporarily invest the
remaining funds on a short-term basis or use the funds for other
general corporate purposes.
BofA Merrill Lynch, Goldman, Sachs
& Co., Morgan Stanley and RS Platou Markets AS are acting as
joint book-running managers and Arctic Securities, DNB Markets,
Fearnley Securities and Pareto Securities are acting as co-managers
in the offering.
The Company has filed an effective
shelf registration statement (including a base prospectus) with the
Securities and Exchange Commission (the "SEC") related to the
offering. Before you invest, you should read the base prospectus in
that registration statement, the prospectus supplement related to
the offering and the other documents incorporated by reference
therein, which the Company has filed with the SEC, for more
complete information about the Company and the offering. You may
get these documents for free by visiting EDGAR on the SEC website
at www.sec.gov. Alternatively, copies may be obtained from BofA
Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus
Department, or by e-mail at dg.prospectus_requests@baml.com;
Goldman, Sachs & Co., Attention: Prospectus Department, 200
West Street, New York, New York 10282, or by calling (866) 471-2526
or by email at prospectus-ny@ny.email.gs.com; Morgan Stanley,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014; or RS Platou Markets AS, Haakon VII's
gate 10, P.O. Box 1474 Vika, 0116, Oslo, Norway, (47 22 01 63 00),
or by email at office@platou.com.
This press release does not
constitute an offer to sell or the solicitation of an offer to buy
securities and shall not constitute an offer, solicitation or sale
in any jurisdiction in which such offer, solicitation or sale is
unlawful. This offering may only be made by means of a
prospectus supplement and related base prospectus.
Forward-Looking
Statements
Matters discussed in this press
release may constitute forward-looking statements. The Private
Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage
companies to provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. The Company desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words "believe," "anticipate," "intends," "estimate," "forecast,"
"project," "plan," "potential," "may," "should," "expect,"
"pending" and similar expressions identify forward-looking
statements.
The forward-looking statements in
this press release are based upon various assumptions, many of
which are based, in turn, upon further assumptions, including
without limitation, management's examination of historical
operating trends, data contained in the Company's records and other
data available from third parties. Although the Company believes
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond the Company's control, it cannot assure you that it will
achieve or accomplish these expectations, beliefs or projections.
As a result, you are cautioned not to rely on any forward-looking
statements.
In addition to these important
factors, other important factors that, in the Company's view, could
cause actual results to differ materially from those discussed in
the forward-looking statements include among others: changes in
liquefied natural gas, or LNG, floating storage and regasification
unit, or FSRU, and floating liquefaction natural gas vessel, or
FLNGV, market trends, including charter rates, ship values and
technological advancements; changes in the Company's ability to
retrofit vessels as FSRUs and FLNGVs, the Company's ability to
obtain financing for such conversions on acceptable terms or at
all, and the timing of the delivery and acceptance of such
converted vessels; changes in the supply of or demand for LNG or
LNG carried by sea; a material decline or prolonged weakness in
rates for LNG carriers or FSRUs; changes in trading patterns that
affect the opportunities for the profitable operation of LNG
carriers, FSRUs or FLNGVs; changes in the supply of or demand for
natural gas generally or in particular regions; changes in the
Company's relationships with major chartering parties; and other
factors listed from time to time in registration statements,
reports or other materials that the Company has filed with or
furnished to the SEC. Forward looking statements are not
guarantees of the Company's future performance, and actual results
and future developments may vary materially from those projected in
forward looking statements. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Hamilton, Bermuda
June 24, 2014
Enquiries: Golar Management Limited: +44 207 063 7900
Brian Tienzo
Stuart Buchanan
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Golar LNG via Globenewswire
HUG#1801472
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