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BW LPG Limited - BW LPG Takes Delivery of Vessel BW Levant from Avance Gas

1. BW LPG has taken delivery of vessel BW Levant on November 29, 2024. 2. Five out of the 12 VLGCs from Avance Gas have now been delivered. 3. BW LPG issued 1,350,000 new shares to Avance Gas as payment for the vessel. 4. Avance Gas now holds approximately 5.08% of BW LPG's total shares. 5. BW LPG is the largest VLGC operator with over 3 million CBM capacity.

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FAQ

Why Bullish?

The acquisition of VLGCs enhances BWLP's fleet and potential revenue. Past similar acquisitions often led to favorable stock performance.

How important is it?

The acquisition represents a significant strategic move, enhancing operational capabilities and shareholder value.

Why Long Term?

The increased fleet capacity can support sustained profit growth over years. Historical acquisitions provide evidence of long-term positive impacts.

Related Companies

BWLPG.OLAGAS
SINGAPORE--(BUSINESS WIRE)--With reference to the stock exchange announcement on 15 August 2024 for the acquisition of 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas Holdings Ltd (“Avance Gas”, OSE ticker code: “AGAS”), BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) has taken delivery of vessel BW Levant on 29 November 2024. Five of the 12 VLGCs are now delivered. BW LPG has today issued 1,350,000 new BW LPG shares to Avance Gas as part-consideration for the above vessel. Following the issuance of the new shares, the total number of issued shares of BW LPG is 147,500,000, representing a total share capital in the amount of USD 416,627,548. The new shares have been legally and validly issued and are fully paid. Following the above issuance, Avance Gas holds 7,500,000 shares in BW LPG, representing approximately 5.08% shareholding. 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, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. 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 450 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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