Cool Company Ltd. – Formation Completed
Golar LNG Limited has completed the sale of its management organization to Cool Company Ltd. for a total of $6.5 million, comprising $5 million in cash and $1.5 million in working capital.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Golar LNG Limited has completed the sale of its management organization to Cool Company Ltd. for a total of $6.5 million, comprising $5 million in cash and $1.5 million in working capital. This transaction will transition approximately 600 employees to CoolCo. Additionally, Richard Tyrrell has been appointed as the new CEO of CoolCo, succeeding Interim CEO Karl Fredrik Staubo. The sale aligns with the strategic objectives outlined in the January 2022 Cool Company Ltd. update.
Positive
- Successful sale of management organization to Cool Company Ltd. for $6.5 million.
- Transition of approximately 600 employees to CoolCo, strengthening its operational capacity.
Negative
- None.
Details
News Market Reaction – GLNG
The recorded move for GLNG in the trading session of this news was -3.34%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Golar LNG Limited ("Golar") announces today that it has sold to Cool Company Ltd. (“CoolCo”) the management organization responsible for the technical and commercial management of LNG carriers, and the provision of such services to third parties, as contemplated in the January 2022 Cool Company Ltd. formation update. CoolCo paid the previously agreed purchase price of
Today, Richard Tyrrell also assumed his position as CEO of CoolCo, replacing Interim CEO Karl Fredrik Staubo.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. 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.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. 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, Bermuda
July 01, 2022
Enquiries:
Golar Management Limited: + 44 207 063 7900
Karl Fredrik Staubo - CEO
Eduardo Maranhão - CFO
Stuart Buchanan - Head of Investor Relations
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.