Reference is made to the Golar LNG Energy Limited private placement in August 2009 at which time subscribers also acquired warrants to subscribe for Golar Energy shares .
Each of the warrants entitles the holder to subscribe for one new share of Golar Energy at a price of USD 2.00 on 15 December 2010. The warrants can only be exercised on 15 December 2010, and will expire worthless thereafter.
The warrants represent positive value as long as the shares of Golar Energy are traded at a premium to USD 2.00. Each holder of these warrants is encouraged to closely monitor the value of their warrants prior to making the decision to exercise. The share price of Golar Energy can be found through its trading symbol on the Oslo Axess market place, which is “GOLE”.
The Company has entered into a warrant deed with Nordea as the nominal holder of the warrants and the terms of the warrants were governed by the Warrant Deed. Golar Energy has appointed Fearnley Fonds ASA (‘Fearnley’) as it’s agent in order to manage the exercise of the warrants by their holders.
An exercise form is being issued to all warrant holders. Warrant holders who wish to exercise their warrants must return the exercise form, duly completed, to Fearnley no later than the end of business hours on Wednesday, 15 December 2010.
Subscribers for the shares will be required to exercise their warrants by close of business on December 15 and to pay their subscription monies into a settlement account with Fearnley by no later than 17 December 2010.
The total number of warrants outstanding is 12 million and therefore, depending on how many warrants are exercised, the Company will receive a maximum of USD 24.0 million in consideration for the issue of up to 12 million new shares. The total number of shares outstanding is currently 228,343,100; if all warrants are exercised this would increase to 240,343,100.
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Source: Golar LNG Energy Limited, December 7, 2010;