Disclosure of Large Shareholdings
29 July 2014 - 06:06AM
Tor Olav Trøim has been employed
by the Seatankers Group on a full-time basis since 1995. Mr. Trøim
has, during this period, been an instrumental force in assisting
the Seatankers Group in the transformation of Greenwich Holdings
Ltd. (the parent in the Seatankers Group) from a shipping company
focused on the tanker industry to a major investment company with
significant direct and indirect holdings in more than
15 public and private companies covering a variety of
industries.
Mr. Trøim and the Seatankers Group
have, over the last year, discussed how to organise their
co-operation going forward. The background for this is that Mr.
Trøim wishes to focus his resources on fewer investments, primarily
by spending more of his time developing Golar LNG Ltd. into a
leading integrated LNG provider in the rapidly changing and fast
growing LNG industry and continuing to develop Seadrill Limited as
the world's pre-eminent offshore drilling company. It has been
agreed, between Mr. Trøim and the Seatankers Group, that Mr. Trøim
will leave his full time position with the Seatankers Group
effective as of 31 July 2014 and thereafter provide
independent investment and advisory services to the Seatankers
Group. The purpose of this agreement is to continue to make
Mr. Trøim's resources available to Seatankers in order to
assist with the continued development and growth of Seadrill and
Golar, including their listed subsidiaries and affiliated
companies.
Mr. Trøim will continue as Vice
Chairman in Golar LNG Ltd. and Seadrill Ltd. He will also continue
as Chairman of the board in Golar LNG Partners LP and Seadrill
Partners LLC. In addition Mr. Trøim will remain an
ordinary Board member in SapuraKencana Petroleum Berhad and Archer
Limited. He is furthermore expected to join the board of directors
of North Atlantic Drilling Ltd.
Tor Olav Trøim and John Fredriksen
say in a joint comment: "We have enjoyed 19 years of co-operation
and are both pleased with the achievements we have made during this
period. We look forward to continuing our successful partnership,
albeit in a different format in the future."
Mr. Trøim wants to give a separate
thank you to John Fredriksen for the opportunity he was given when
he was hired by the Seatankers Group in 1995 and also for the
dynamic working relationship and freedom he has enjoyed in his
position. "It has been a pleasure to work with great colleagues and
some of the best management teams in the world to develop industry
leading companies within the Shipping, Offshore and Salmon
industry." Mr. Trøim says.
Mr. Trøim has, in connection with
the change of role, today acquired 3,000,000 shares in Golar LNG
and 2,000,000 shares in Seadrill from World Shipholding and Hemen
Holding. World Shipholding ownership in Golar following this
transaction is 33,755,080 shares. Mr. Trøim's direct and indirect
holding in Golar is 3,358,188 shares. In addition Mr. Trøim has an
exposure of 386,001 shares under options and forward contracts.
FORWARD LOOKING
STATEMENTS
This press release contains certain forward-looking statements
concerning future events and Golar's operations, performance and
financial condition. Forward-looking statements include, without
limitation, any statement that may predict, forecast, indicate or
imply future results, performance or achievements, and may contain
the words "believe", "anticipate", "expect", "estimate", "project",
"will be", "will continue", "will likely result", "plan", "intend"
or words or phrases of similar meanings. These statements involve
known and unknown risks and are based upon a number of assumptions
and estimates that are inherently subject to significant
uncertainties and contingencies, many of which are beyond Golar's
control. Actual results may differ materially from those expressed
or implied by such forward-looking statements.
Hamilton, Bermuda
July 28, 2014
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Golar LNG via Globenewswire
HUG#1840653
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