AWILCO LNG ASA (ALNG.OL)

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AWILCO LNG ASA - Annual General Meeting

Notice is hereby given that the Annual General Meeting of Awilco LNG ASA will be held on Tuesday May 14, 2024 at 12:30 hrs.

In accordance with section 5-8 of the Norwegian Public Limited Liability Companies Act, the general meeting will be held as a phone conference meeting.
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Please find attached the notice of the Annual General Meeting including the attendance form, proxy form and advance voting form.

The notice of the Annual General Meeting and the ancillary documents including the annual report for the financial year 2023 and the proposal from the nomination committee are available at the Company’s website www.awilcolng.no .

Oslo, April 22, 2024

For further information please contact:
CFO Per Heiberg
Phone: +47 952 20 264

Kilde

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Awilco LNG ASA - Refinancing signed

With reference to the press release dated December 4, 2023, Awilco LNG ASA (the Company) is pleased to announce that the documentation for the refinancing of the Company’s two 2013-built 156,000 cbm TFDE LNG carriers WilForce and WilPride has today been signed.

The sale/leaseback facility is provided by China Development Bank Financial Leasing Co. Ltd. (CDB Leasing), a leading leasing house in China. The new facility will enable a full take out of the Company’s current sale/leaseback facilities. The facility bears a longer amortisation profile and a longer tenor than the current facility and the floating interest rate structure has a lower margin all of which substantially reduces the Company’s running cost and cash break-even level.
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The Company will expense remaining capitalized expenses related to the previous financing in the first quarter of 2024. This is compensated by the USD 10,000 per day per vessel reduction in cash break-even with the new financing.

The facility is expected to close on delivery of the vessels to CDBL late second or early third quarter 2024 depending on customary closing conditions.

Jon Skule Storheill, CEO of Awilco LNG ASA, stated: “We are pleased to mark the start of our long-term relationship with CDB Leasing with this transaction and are at the same time pleased to see our finance cost improve and support the Company’s commercial strategy.”

For further information please contact:

Jon Skule Storheill
Chief Executive Officer
Mobile: +47 913 443 56

Per Heiberg
Chief Financial Officer
Mobile: +47 952 20 264

Kilde

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Awilco LNG ASA - Minutes from AGM

The Annual General Meeting (AGM) in Awilco LNG ASA was held today May 14, 2024. Enclosed is the Minutes of Meeting from the AGM.

Oslo, May 14, 2024
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For further information please contact:
CFO Per Heiberg
Phone: +47 952 20 264

Kilde

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Awilco LNG ASA - First quarter 2024 results

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended March 31, 2024.

HIGHLIGHTS 1)
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• Awilco LNG achieved a net result of USD 7.2 million and earnings per share of USD 0.05 in the first quarter 2024, down from a net result of USD 14.9 million and USD 0.11 per share in the fourth quarter 2023 which was positively impacted by a USD 5 million one-off insurance settlement.
• Net freight income of USD 21.9 million in first quarter 2024, compared to USD 22.2 million in fourth quarter 2023.
• EBITDA in first quarter 2024 ended at USD 17.6 million, down from USD 22.8 million in fourth quarter 2023.
• Vessel utilization was 100% for first quarter 2024 with net TCE at USD 120,600, the same as for fourth quarter 2023.
• In February the Company declared a dividend of NOK 1.00 per share for the fourth quarter. The dividend, corresponding to USD 12.2 million was paid in April 2024.
• In May the Company signed documentation for refinancing of both vessels and exercised the purchase option under the existing financing. The refinancing will reduce the Company’s finance cost and cash break even substantially. Closing of the refinancing is expected during second quarter 2024
• On May 22, 2024, the Board authorized a cash dividend payment of NOK 0.75 per share to be paid in July 2024. The Company has thus declared a total of NOK 3.35 per share in dividends since March 2023.

Jon Skule Storheill, Chief Executive Officer, commented:
“We are pleased to report another strong quarterly profit as both vessels have traded on their fixed rate contracts with no off-hire throughout the entire quarter. Progress has been made on the refinancing and we aim to close this transaction within the second quarter as it will significantly reduce our costs and cash break-even level. With WilForce coming open this summer we are pleased to see activity picking up after the shoulder season although rates have yet to improve significantly. The fixed earnings contracts through second quarter enable the company to continue to return capital to our shareholders and the board resolved and declared a dividend of NOK 0.75 per share for first quarter, payable in July 2024”.

Enclosed is in addition a First quarter 2024 presentation. No physical presentation will be held covering first quarter 2024.

Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.

Oslo, May 23, 2024

For further information please contact:

CEO Jon Skule Storheill
Phone: +47 913 44 356

CFO Per Heiberg
Phone: +47 952 20 264

About Awilco LNG ASA
Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently own two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.

Kilde

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Awilco LNG ASA - Key information relating to the payment of cash dividend

Dividend amount: NOK 0.75 per share
Declared currency: NOK
Last day including right: June 18, 2024
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Ex-date: June 19, 2024
Record date: June 20, 2024
Payment date: on or about July 2, 2024
Date of approval: May 22, 2024

Oslo, May 23, 2024

Kilde

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Awilco LNG ASA – WilForce and WilPride refinancing completed

Awilco LNG ASA (Awilco LNG or the Company) is pleased to announce the successful closing and completion of the up to 12-year sale/leaseback facility with CDB Financial Leasing Co., Ltd. (CDBL) for the Company’s two 2013-built 156,000 cbm TFDE LNG carriers WilForce and WilPride. As announced on December 4, 2023, and further updated on May 10, 2024.

The vessels are financed with a gross consideration of USD 100 million each. The vessels are chartered back on a bareboat basis to wholly owned subsidiaries of the Company for a period of up to 12 years. The facility bears a longer amortization profile and a longer tenor than the current facility and the floating interest rate structure has a lower margin which together reduce the Company’s running cost and cash break-even level with approximately USD 10,000 per day per vessel.
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The Company has rolling purchase options from the second anniversary and a purchase obligation from the tenth anniversary until maturity.

For further information please contact:

Jon Skule Storheill
Chief Executive Officer
Mobile: +47 913 44 356

Per Heiberg
Chief Financial Officer
Mobile: +47 952 20 264

Kilde

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Awilco LNG ASA – Ex-dividend NOK 0.75 today

The shares in Awilco LNG ASA (OSE: ALNG) will be traded ex dividend of NOK 0.75 from today, June 19, 2024. The dividend is classified as a return of paid in capital.

Oslo, June 19, 2024
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Kilde

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Awilco LNG ASA – Second quarter 2024 results

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended June 30, 2024.

HIGHLIGHTS 1)
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• Awilco LNG achieved a net result of USD 8.7 million and earnings per share of USD 0.07 in the second quarter 2024, up from a net result of USD 7.2 million and USD 0.05 per share in the first quarter 2024. First half year 2024 net result ended at USD 15.8 million and USD 0.12 per share.
• Net freight income of USD 22.4 million in second quarter 2024, compared to USD 21.9 million in first quarter 2024. First half year 2024 net freight income ended at USD 44.3 million, up from USD 42.4 million for the same period last year.
• EBITDA in second quarter 2024 ended at USD 18.8 million, up from USD 17.6 million in first quarter 2024. First half year 2024 EBITDA ended at USD 36.4 million, up from 35.0 million for the same period last year.
• Vessel utilization was 100% for second quarter 2024, the same as for first quarter 2024 and for first half year last year.
• Net TCE came in at USD 122,900 and USD 121,700 per day for second quarter and first half year respectively, compared to USD 120,500 and USD 117,500 per day respectively for the same periods last year.
• In May the Company declared a dividend of NOK 0.75 per share for the first quarter. The dividend, corresponding to USD 9.3 million was paid in July 2024.
• On June 13, 2024 the Company completed the refinancing of both vessels. The refinancing will reduce the Company’s cash payments by approximately USD 6.5 million over the next 12 months and cash break-even will be reduced by approximately USD 9,000 per day per vessel compared to the previous financing.
• On August 20, 2024, the Board authorized a cash dividend payment of NOK 0.25 per share to be paid in September 2024. The Company has thus declared a total of NOK 3.60 per share in dividends since the inception of dividends in March 2023.

Jon Skule Storheill, Chief Executive Officer, commented:
“We are pleased to report another strong quarterly and half year profit in 2024. The completed refinancing of our vessels will significantly reduce our financing cost, cash break even, and increase the company’s financial robustness going forward. WilForce is currently trading in the spot market while we are actively seeking longer term employment for the vessel. Activity picked up this summer and towards the upcoming winter season although we have only seen a small improvement in rates so far as disruption of LNG production in the USG after hurricane Beryl mid July led to several cargo cancellations and thereby increase of available vessels. The board resolved and declared a dividend of NOK 0.25 per share for the second quarter, payable in September 2024”.

Enclosed is in addition a Second quarter 2024 presentation. No physical presentation will be held covering second quarter 2024.

Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.

Oslo, August 21, 2024

For further information please contact:

CEO Jon Skule Storheill
Phone: +47 913 44 356

CFO Per Heiberg
Phone: +47 952 20 264

About Awilco LNG ASA
Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently own two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.

Kilde

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Awilco LNG ASA - Key information relating to the payment of cash dividend

Dividend amount: NOK 0.25 per share
Declared currency: NOK
Last day including right: August 30, 2024
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Ex-date: September 2, 2024
Record date: September 3, 2024
Payment date: on or about September 12, 2024
Date of approval: August 20, 2024

Oslo, August 21, 2024

Kilde

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Awilco LNG ASA – Ex-dividend NOK 0.25 today

The shares in Awilco LNG ASA (OSE: ALNG) will be traded ex dividend of NOK 0.25 from today, September 2, 2024. The dividend is classified as a return of paid in capital.

Oslo, September 2, 2024
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Kilde

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Awilco LNG ASA – Third quarter 2024 results

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended September 30, 2024.

HIGHLIGHTS 1)
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• Awilco LNG report a net loss of USD 0.3 million and earnings per share of USD 0.00 in the third quarter 2024, down from a net result of USD 8.7 million and USD 0.07 per share in the second quarter 2024.
• Net freight income of USD 10.7 million in third quarter 2024, compared to USD 22.4 million in second quarter 2024.
• EBITDA in third quarter 2024 ended at USD 7.3 million, down from USD 18.8 million in second quarter 2024.
• Vessel utilization was 87% for third quarter 2024, compared to 100% as for second quarter 2024.
• Net TCE came in at USD 58,000 for third quarter, compared to USD 122,900 per day for second quarter 2024.
• In August the Company declared a dividend of NOK 0.25 per share for the second quarter. The dividend, corresponding to USD 3.1 million was paid in September 2024.
• WilForce is currently trading in a challenging spot marked with very low rates and idle periods. With lack of visibility of earnings in the short-term the Board decided not to declare a dividend for third quarter 2024.

Jon Skule Storheill, Chief Executive Officer, commented:
“After almost two years with very strong earnings where both our vessels have been employed on well-paying Time Charter contracts the Company has experienced a significant drop in earnings in third quarter. WilForce is trading in the weakest LNGC spot market experienced for years, considering this is normally high season it is surprisingly weak. The Company’s financial position is robust with a comfortable cash position and lowered cash break even following the recent refinancing. Due to the present weakness and lack of visibility of near-term earnings the board resolved to halt dividend payments until an improvement in earnings is seen.”

Enclosed is in addition a Third quarter 2024 presentation. No physical presentation will be held covering third quarter 2024.

Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.

Oslo, November 14, 2024

For further information please contact:

CEO Jon Skule Storheill
Phone: +47 913 44 356

CFO Per Heiberg
Phone: +47 952 20 264

About Awilco LNG ASA
Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently own two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.

Kilde