EX-99.1 2 tm2423116d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

BW LPG Limited - Management Share Option Plan “LTIP 2022” – Exercise of options and sale of shares by primary insiders

 

Singapore, 30 August 2024

 

With reference to the press release on 15 July 2024 for the accelerated vesting of options granted on 1 March 2022 under “LTIP 2022”, on 29 August 2024, primary insiders of BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) have exercised these vested options and sold shares in BW LPG in the market. More details about the accelerated vesting of options can be found at: https://www.bwlpg.com/media/press-release/bw-lpg-limited-accelerated-vesting-of-ltip-2022-options/

 

The exercised options were settled by the Company by transfer of treasury shares. Following the transfer, the Company will hold 7,743,557 treasury shares.

 

The exercise of vested options and sale of shares by the primary insiders are as set out below:

 

Prodyut Banerjee, Vice President and Head of Operations

 

Options (granted in 2022) exercised, each having a strike price of NOK 0.7457: 24,840

 

Total number of shares held following the option exercise: 24,840

 

Number of shares sold: 24,840

 

Average price sold at: NOK 161.1115 per share

 

Number of shares held following the sale: 0

 

Knut-Helge Knutsen, Vice President and Head of Technical

 

Options (granted in 2022) exercised, each having a strike price of NOK 0.7457: 24,840

 

Total number of shares held following the option exercise: 24,840

 

Iver Baatvik, Vice President and Head of Corporate Development

 

Options (granted in 2022) exercised, each having a strike price of NOK 0.7457: 24,840

 

Total number of shares held following the option exercise: 24,840

 

Please refer to the attached for further details.

 

For further information, please contact:

 

Samantha Xu
Chief Financial Officer
E-mail: investor.relations@bwlpg.com

 

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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 490 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 and article 19 of the EU Market Abuse Regulation.

 

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1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Prodyut Banerjee
2 Reason for the notification
a) Position/status Vice President and Head of Operations
b) Initial notification/Amendment Initial notification
3 Details of issuer
a) Name BW LPG Ltd
b) LEI 5493006WBEME88YFDW23
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

Identification code

 Options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
b) Nature of the transaction Exercise of options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)

c) Price(s) and volume(s)   Price(s) Volume(s)  
      NOK 0.7457 24,840    
           

d)

Aggregated information  

— Aggregated volume  

— Price

 Exercise of 24,840 options for a total of NOK 18,523.
e) Date of the transaction 2024-08-29
f) Place of the transaction Outside a trading venue

 

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1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Knut-Helge Knutsen
2 Reason for the notification
a) Position/status Vice President and Head of Technical
b) Initial notification/Amendment Initial notification
3 Details of issuer
a) Name BW LPG Ltd
b) LEI 5493006WBEME88YFDW23
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

Identification code

 Options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
b) Nature of the transaction Exercise of options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)

c) Price(s) and volume(s)   Price(s) Volume(s)  
      NOK 0.7457 24,840    
           

d)

Aggregated information  

— Aggregated volume  

— Price

 Exercise of 24,840 options for a total of NOK 18,523.
e) Date of the transaction 2024-08-29
f) Place of the transaction Outside a trading venue

 

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1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Iver Baatvik
2 Reason for the notification
a) Position/status Vice President and Head of Corporate Development
b) Initial notification/Amendment Initial notification
3 Details of issuer
a) Name BW LPG Ltd
b) LEI 5493006WBEME88YFDW23
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

Identification code

 Options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)
b) Nature of the transaction Exercise of options relating to shares in BW LPG Ltd (ISIN SGXZ69436764)

c) Price(s) and volume(s)   Price(s) Volume(s)  
      NOK 0.7457 24,840    
           

d)

Aggregated information  

— Aggregated volume  

— Price

 Exercise of 24,840 options for a total of NOK 18,523.
e) Date of the transaction 2024-08-29
f) Place of the transaction Outside a trading venue

 

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1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Prodyut Banerjee
2 Reason for the notification
a) Position/status Vice President and Head of Operations
b) Initial notification/Amendment Initial notification
3 Details of issuer
a) Name BW LPG Ltd
b) LEI 5493006WBEME88YFDW23
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)

Description of the financial instrument, type of instrument

Identification code

 Shares in BW LPG Ltd (ISIN SGXZ69436764)
b) Nature of the transaction Sale of shares in BW LPG Ltd (ISIN SGXZ69436764)

c) Price(s) and volume(s)   Price(s) Volume(s)  
      NOK 161.1115 24,840    
           

d)

Aggregated information  

— Aggregated volume  

— Price

 Sale of 24,840 shares for a total of NOK4,002,010.
e) Date of the transaction 2024-08-29
f) Place of the transaction Oslo Stock Exchange, MIC: XOSL

 

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Appendix

 

Prodyut Banerjee 
Sale of shares in BW LPG Ltd (ISIN SGXZ69436764) on 29 August 2024 
Price  Volume  Amount  Price  Volume  Amount 
159.9000  53  8,528  161.0000  2,040  328,494 
159.9500  5  853  161.0500  240  38,706 
160.0000  185  29,653  161.1000  6,814  1,097,735 
160.0500  165  26,462  161.1500  16  2,578 
160.1000  150  24,068  161.2000  1,338  215,632 
160.1500  348  55,786  161.2200  24  3,923 
160.2000  322  51,638  161.2500  223  35,905 
160.3000  183  29,335  161.3000  902  145,546 
160.4000  60  9,571  161.3500  489  78,846 
160.5000  286  45,957  161.4000  1,211  195,455 
160.5500  87  13,914  161.4500  496  80,133 
160.6000  225  36,189  161.5000  903  145,781 
160.6500  102  16,333  161.5500  362  58,481 
160.7000  402  64,548  161.6000  892  144,093 
160.7500  106  16,986  161.6500  183  29,636 
160.7800  58  9,272  161.7000  908  146,770 
160.8000  1,310  210,594  161.7500  166  26,797 
160.8500  166  26,755  161.8000  259  41,906 
160.8800  87  13,997  161.8500  35  5,665 
160.9000  1,503  241,886  161.9000  497  80,410 
160.9500  966  155,531  162.0000  72  11,664 
         161.1115  24,840  4,002,010 

 

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