The Board of Golar LNG has today received a
resignation notice from its CEO Iain Ross. The contractual
termination period is 6 months however the final duration can be
prolonged or reduced upon mutual agreement.
Golar LNG is currently in the final stages of
closing the announced sale of its 50% interest in Hygo Energy
Transition Limited (“Hygo”) and 32% interest in Golar LNG Partners
LP (“GMLP”) to New Fortress Energy Inc. (“NFE”) for a total
enterprise value consideration for the two companies of
approximately USD 5 billion. The NFE transactions will simplify the
Golar group structure, crystalize underlying value and strengthen
the balance sheet. The majority of the closing conditions have been
completed, including prepayment notices issued to several of GMLPs
lenders. Closing of the transactions is expected shortly.
The Board of Golar LNG will immediately start
the process to recruit Mr. Ross’s successor.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 21E of the Securities Exchange
Act of 1934, as amended). All statements, other than
statements of historical facts, that address activities and events
that will, should, could or may occur in the future are
forward-looking statements. Words such as “may,” “could,” “should,”
“would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,”
“believe,” “estimate,” “predict,” “propose,” “potential,”
“continue,” or the negative of these terms and similar expressions
are intended to identify such forward-looking statements.
Forward-looking statements in this press release include statements
relating to the proposed Hygo and GMLP transactions, the expected
benefits of the transactions, the timing of the closings thereof
the application of proceeds therefrom and other statements that are
not historical facts. These forward-looking statements
involve many risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such statements.
Specific factors that could cause actual results
to differ from those in the forward-looking statements include, but
are not limited to: (i) changes in federal, state, local and
foreign laws or regulations to which NFE, Hygo or GMLP is subject;
(ii) the risk that the proposed Hygo and GMLP transactions may not
be completed in a timely manner or at all; (iii) the possibility
that any or all of the various conditions to the consummation of
the Hygo and GMLP transactions may not be satisfied or waived,
including the failure to receive any required regulatory approvals
from any applicable governmental entities (or any conditions,
limitations or restrictions placed on such approvals); and (iv)
other risk factors identified herein or from time to time in Golar
LNG’s periodic filings with the SEC. These factors are not
necessarily all of the important factors that could cause actual
results to differ materially from those expressed in any of Golar
LNG’s forward-looking statements. Other known or unpredictable
factors could also have material adverse effects on future
results.
You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Golar LNG Limited undertakes no obligation to update
publicly any forward-looking statements whether as a result of new
information, future events or otherwise, unless required by
applicable law.
Hamilton, BermudaApril 12, 2021Enquiries:Golar
Management Limited: + 44 207 063 7900Stuart Buchanan - Head of
Investor Relations
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