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Flex LNG Ltd. reports developments for an LNG shipping company that charters modern liquefied natural gas carriers to customers. Its fleet is described as thirteen LNG carriers using latest-generation two-stroke MEGI and X-DF propulsion, with revenue generated through vessel operations and time-charter employment.
Recurring updates cover quarterly results and presentations, annual reports, time-charter agreements and extensions for vessels such as Flex Aurora, Flex Resolute, Flex Courageous and Flex Constellation, fleet status, shareholder meeting notices and AGM voting results. Company communications also address LNG freight-market conditions, contract backlog, vessel operating revenues, and governance matters for the Bermuda issuer listed on the New York Stock Exchange under FLNG.
Flex LNG has announced a cash distribution of $0.75 for the third quarter 2024, to be paid from the Company's Contributed Surplus Account. Due to the NYSE settlement cycle changing from T+2 to T+1 from May 28, 2024, while OSE maintains T+2, there will be different distribution dates for NYSE and OSE shareholders. NYSE shareholders' payment is scheduled for December 11, 2024, while OSE shareholders will receive payment around December 16, 2024. The company operates thirteen LNG carriers with modern two-stroke propulsion systems, offering improved fuel efficiency compared to older vessels.
Flex LNG announced its third quarter 2024 results presentation, which will be delivered through a live video webcast on November 12, 2024, at 15:00 CET (09:00 a.m. EST). The presentation includes a Q&A session, and the company has also released a teaser video highlighting the quarter's results. The materials are accessible through the company's website at www.flexlng.com. The presentation complies with Norwegian Securities Trading Act disclosure requirements.
Flex LNG has secured a significant time charter extension for two LNG carriers, Flex Courageous and Flex Resolute, with a Supermajor. The new agreement adds a firm three-year period from 2029 to 2032, with options to extend up to 2039 through three additional periods (2+2+3 years). This extension builds upon existing charter agreements from 2022, where the Charterer has already exercised the first two-year extension option until 2027, with another option remaining until 2029. The new extension demonstrates Flex LNG's strategy of securing longer-duration contracts at higher rates.
Flex LNG announced it will release its Q3 2024 unaudited financial results on Tuesday, November 12, 2024, around 07:00 CET. The company will host a live video webcast at 15:00 CET the same day, featuring a presentation followed by a Q&A session. Participants are encouraged to register 5-10 minutes before the start. Questions can be submitted during the presentation or via email to ir@flexlng.com. Presentation materials will be available on the company's website, and a replay will be accessible on both the website and Flex LNG's YouTube channel.
Flex LNG has announced that its Chief Financial Officer, Knut Traaholt, will be conducting a non-deal roadshow to meet with investors in the United States and Canada. The company has made the presentation materials available on their website and attached to the announcement. This investor outreach initiative suggests that Flex LNG is actively engaging with its shareholders and potential investors, potentially to discuss the company's financial performance, strategy, or future outlook. For those seeking more information, Flex LNG has provided contact details for Mr. Traaholt.
Flex LNG (NYSE: FLNG) (OSE: FLNG) has successfully completed $430 million in new financings as announced in their Q2-2024 report. The company finalized a $270 million bank facility for Flex Aurora and Flex Ranger on September 24, 2024, repaying a previous $375 million facility. This left Flex Endeavour unencumbered at the end of Q3-2024. On October 3, 2024, Flex LNG closed a $160 million JOLCO lease for Flex Endeavour at favorable terms.
With a cash balance of $370 million as of June 30, 2024, these refinancings will further enhance the company's substantial cash position. CFO Knut Traaholt emphasized the attractive terms of the refinancings and expressed gratitude for the support from banks and lease providers. Flex LNG's fleet consists of thirteen state-of-the-art LNG carriers with modern two-stroke propulsion, offering improved fuel efficiency and reduced carbon footprint.
Flex LNG (FLNG) has reported mandatory notifications of trade by persons discharging managerial responsibilities (PDMR). CEO Øystein Kalleklev exercised 100,000 options and sold 100,000 shares on the New York Stock Exchange at an average price of USD 26.65 per share on September 18th and 19th, 2024. After the sale, Kalleklev retains ownership of 50,000 common shares.
CFO Knut Traaholt also exercised 48,000 options and sold 48,000 shares at the same average price during the same period. The company has disclosed this information in compliance with Article 19 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.
Flex LNG (NYSE: FLNG) announced that CEO Øystein Kalleklev will be presenting at the 31st Energy Conference hosted by Pareto Securities. Flex LNG is a shipping company specializing in the Liquefied Natural Gas (LNG) market. The company's fleet consists of thirteen state-of-the-art LNG carriers equipped with the latest generation two-stroke propulsion systems (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and reduced carbon footprint compared to older steam and four-stroke propelled ships. Flex LNG is listed on both the New York Stock Exchange and Oslo Stock Exchange under the ticker FLNG.
Flex LNG (FLNG) presented at Pareto Securities' 31st Energy Conference on Sept. 12, 2024. CEO Øystein Kalleklev delivered the presentation, which is attached to the announcement and available for download on the company website.
Flex LNG describes its fleet as thirteen state-of-the-art LNG carriers using two-stroke propulsion (MEGI and X-DF), which the company says improves fuel efficiency and carbon footprint versus older steam and four-stroke ships. Investor contact details for CFO Knut Traaholt and a downloadable presentation link are provided.
Flex LNG (Ticker: FLNG) has announced dividend payments for shareholders on both the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE). Shares traded on OSE will go ex-dividend of USD 0.75 per share on August 28, 2024, with payment expected around September 17, 2024. For NYSE-traded shares, the ex-dividend date is set for August 29, 2024, with payment anticipated around September 12, 2024. This dividend announcement demonstrates Flex LNG's commitment to returning value to shareholders across its dual-listed stocks.