Golar LNG unwinds part of Total Return Swap
(Thomson Reuters ONE) -
Golar LNG Limited ("Golar" or the "Company") today announced that it has settled
and reduced its exposure under its Total Return Swap ("TRS") agreement from 3.5
million shares to 3 million shares through a direct acquisition of 500,000
shares. The Company now owns these 500,000 shares outright as treasury shares
and continues to hold TRS contracts for a further 3.0 million shares. Excluding
treasury shares, the number of outstanding shares in Golar after this
transaction has been reduced to 93,046,663.
The Company has been reserving cash as collateral against its TRS agreements and
the cash cost of unwinding the forward contract in respect of these 500,000
shares was substantially funded by a corresponding release from the cash
collateral.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements concerning future
events and Golar's operations, performance and financial condition. Forward-
looking statements include, without limitation, any statement that may predict,
forecast, indicate or imply future results, performance or achievements, and may
contain the words "believe", "anticipate", "expect", "estimate", "project",
"will be", "will continue", "will likely result", "plan", "intend" or words or
phrases of similar meanings. These statements involve known and unknown risks
and are based upon a number of assumptions and estimates that are inherently
subject to significant uncertainties and contingencies, many of which are beyond
Golar's control. Actual results may differ materially from those expressed or
implied by such forward-looking statements.
Golar LNG Limited
Hamilton, Bermuda
6 January, 2016
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golar LNG via GlobeNewswire
[HUG#1977024]
Unternehmensinformation / Kurzprofil:
Datum: 06.01.2016 - 15:21 Uhr
Sprache: Deutsch
News-ID 442713
Anzahl Zeichen: 2467
contact information:
Town:
Hamilton
Kategorie:
Business News
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