Höegh LNG Partners LP (NYSE: HMLP) has set August 22, 2022, as the record date for a special unitholders' meeting scheduled for September 20, 2022. Unitholders will vote on the proposed merger with a subsidiary of Höegh LNG Holdings Ltd. Those holding common units by the record date are eligible to attend and vote. This announcement is part of the ongoing process related to the merger agreement previously filed on May 26, 2022. Unitholders are encouraged to review related documents for comprehensive details on the merger.
Höegh LNG Partners LP (NYSE: HMLP) announced a quarterly cash distribution of $0.01 per common unit for Q2 2022, payable on August 12, 2022, to common unitholders of record as of the close of business on August 1, 2022.
Additionally, a cash distribution of $0.546875 per 8.75% Series A preferred unit will be paid on August 15, 2022, to preferred unitholders of record as of the close of business on August 8, 2022.
On June 9, 2022, Höegh LNG Partners LP (NYSE: HMLP) held its 2022 Annual Meeting in Hamilton, Bermuda. During this meeting, Carlo Ravizza was elected as a Class IV Director, serving until the 2026 Annual Meeting. Tonesan Amissah resigned from the Board effective immediately after the meeting. Timothy Faries, a partner at Appleby Limited with extensive experience in capital raising and insurance-linked securities, has been appointed to fill the vacancy left by Amissah. These changes in leadership may influence the Partnership's strategic direction and governance.
Höegh LNG Partners LP (NYSE: HMLP) reported Q1 2022 financial results, revealing total time charter revenues of $35.3 million, up from $34.8 million in Q1 2021. Operating income declined to $28.5 million from $31.7 million, while net income was $20.2 million, down from $23.8 million. Limited partners' interest in net income also decreased, totaling $16.3 million. The Partnership announced a cash distribution of $0.01 per common unit. Additionally, it entered a merger agreement with Höegh LNG at $9.25 per common unit, reflecting a 35% premium to recent closing prices.
Höegh LNG Partners LP (NYSE: HMLP) announced a merger agreement with Höegh LNG Holdings Ltd. on May 25, 2022. Under the deal, Höegh LNG will acquire all outstanding publicly held common units of the Partnership for $9.25 per unit, totaling approximately $167.6 million. This new offer is a significant increase from the previous offer of $4.25 per unit. The merger, which must be approved by the majority of outstanding common units, is expected to close in the latter half of 2022.
Höegh LNG Partners LP will announce its first quarter 2022 results on May 25, 2022, before market opening. A presentation is scheduled for 8:30 A.M. (EST), followed by a Q&A session. Results and presentation materials will be accessible on the company's website. For participation, options include a webcast and teleconference calls. A replay of the conference will be available until June 1, 2022. Dial-in numbers for replay include international, US toll-free, and Canada toll-free options.
Höegh LNG Partners LP has announced its 2022 Annual Meeting will take place on June 9, 2022, at 4:00 P.M. local time in Hamilton, Bermuda. The record date for voting is set for May 9, 2022. This meeting will include the election of a Board of Directors member. Further details, including the notice and agenda, will be shared before the meeting.
Höegh LNG Partners LP (NYSE: HMLP) has filed its Annual Report on Form 20-F for the year ending December 31, 2021, with the SEC. The report is accessible on both the Partnership's website and the U.S. Securities and Exchange Commission's site. Unitholders can request a hard copy of the audited financial statements for free. For inquiries, contact Höegh LNG Partners directly.
Höegh LNG Partners LP (NYSE: HMLP) declared a quarterly cash distribution of $0.01 per common unit for the quarter ended March 31, 2022, payable on May 13, 2022, to unitholders of record as of May 2, 2022.
Additionally, the Board announced a cash distribution of $0.546875 per 8.75% Series A preferred unit, payable on May 16, 2022, to preferred unitholders of record as of May 9, 2022. The release includes forward-looking statements subject to various risks, uncertainties, and factors affecting future results.
Höegh LNG Partners LP (HMLP) reported Q4 2021 financial results with net income of $16.2 million, down from $18.5 million in Q4 2020. Total revenues were $36.2 million, slightly higher than $36.1 million year-over-year. Operating income dropped to $22.5 million, from $25.5 million. The Partnership faced increased operating and administrative expenses, while unrealized gains on derivatives impacted net income. Despite a legal arbitration issue with a charterer, FSRU availability remained at 99.9%. The board is reviewing a cash acquisition offer from Höegh LNG for $4.25 per common unit.