Mr. John Fredriksen, Chairman of the Board, President and Director of Golar LNG Limited (“Golar”) has exercised 200,000 share options in Golar. The options have a strike price of $5.75 per share.
Mr. Fredriksen has sold the same shares at NOK 88.50 per share. An affiliated party of Mr. Fredriksen, World Shipholding, has subsequently purchased a TRS agreement which gives exposure to the same number of shares. The TRS agreement matures June 3, 2011 and has a strikes price of 90.2793. After this transaction Mr. Fredriksen owns directly 300,000 options in Golar and parties related to Mr. Fredriksen and his family owns totally 31,203,900 shares.and has TRS agreements with exposure to a further 200.000 shares. Mr. Fredriksens and his families total underlying exposure to Golar LNG including shares, TRS, and options remain unchanged after the transactions.
Option holder Mr. Tor Olav Troim has exercised 100,000 share options in Golar with a strike price of $5.75 per share, and remains the holder of the shares.
Golar LNG has sold treasury shares in relation to these option exercises and after these transactions own 150,000 of its own shares.
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Source: Golar LNG, November 30, 2010