Latest news with #GolarLNGLimited
Associated Press
01-07-2025
- Business
- Associated Press
Golar LNG Limited Closes Offering of $575 Million of 2.75% Convertible Senior Notes Due 2030 and Repurchase of 2.5 Million Common Shares
Hamilton, Bermuda, July 1, 2025 -- Golar LNG Limited (the 'Company') (NASDAQ: GLNG) announced today the closing of its previously announced offering of 2.75% Convertible Senior Notes due 2030 (the 'Notes'), in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'). The Company sold $575 million aggregate principal amount of the Notes, including $75 million aggregate principal amount of the Notes sold pursuant to the initial purchasers' exercise in full of their 30-day option to purchase additional Notes in connection with the offering. The Notes are senior, unsecured obligations of the Company, bear interest at a rate of 2.75% per annum, are payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2025, mature on December 15, 2030, and are convertible into the Company's common shares, cash, or a combination of shares and cash, at the Company's election. The conversion rate for the Notes initially equals 17.3834 common shares per $1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately $57.53 per common share, representing an initial conversion premium of approximately 40% over the closing price of the Company's common shares of $41.09 on June 25, 2025, and is subject to adjustment upon the occurrence of certain events. The Company used a portion of the net proceeds from the sale of the Notes to repurchase 2.5 million of the Company's common shares in connection with the offering of the Notes and intends to cancel these shares, reducing the total outstanding share count to 102.3 million shares. The Company plans to use the remaining net proceeds for general corporate purposes, which may include, among other things, future growth investments including a contemplated fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, repaying indebtedness, and funding working capital and capital expenditures. IMPORTANT INFORMATION This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum. The Notes and the shares of common stock issuable upon conversion of the Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws. FORWARD LOOKING STATEMENTS This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management's current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as 'will,' 'may,' 'could,' 'should,' 'would,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'forecast,' 'believe,' 'estimate,' 'predict,' 'propose,' 'potential,' 'continue,' 'subject to' or the negative of these terms and similar expressions are intended to identify such forward-looking statements and include statements related to the offering of the Notes, the terms and conditions, the intended use of proceeds and other non-historical matters. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict and which could cause actual outcomes and results to differ materially from what is expressed or forecasted in such forward-looking statements. Such risks include risks relating to the actual use of proceeds and other risks described in our most recent annual report on Form 20-F filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law. Hamilton, Bermuda July 1, 2025 Investor Questions: +44 207 063 7900 Karl Fredrik Staubo – CEO Eduardo Maranhão – CFO Stuart Buchanan – Head of Investor Relations This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This announcement is not being made in and copies of it may not be distributed or sent into any jurisdiction in which the publication, distribution or release would be unlawful.
Yahoo
28-05-2025
- Business
- Yahoo
Golar LNG Surpasses Q1 Earnings Estimates, Lags on Revenues
Golar LNG Limited (GLNG) reported mixed first-quarter 2025 results wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Quarterly earnings of 38 cents per share beat the Zacks Consensus Estimate of 29 cents but declined year over year. Revenues of $62.5 million missed the Zacks Consensus Estimate of $66.5 million. The top line declined 3.8% year over year. Golar LNG Limited price-consensus-eps-surprise-chart | Golar LNG Limited Quote In March 2025, GLNG signed finance lease agreements with a consortium of Chinese leasing companies. The sale-leaseback facility is valued at around $1.2 billion. The deal is subject to customary closing conditions, which include the completion of documentation and the receipt of third-party approvals. The facility is anticipated to be completed by the end of the second quarter of 2025. With a tenure of 12 years, the sale and leaseback facility features a 17-year amortization profile, during which quarterly repayment installments will be made throughout the lease period. On the completion and repayment of the existing debt facility, Gimi MS Corporation is anticipated to generate net proceeds of almost $530 million. This amount includes the release of existing interest rate swaps. GLNG is hopeful of gaining 70% of these proceeds, which is equivalent to almost $371 million. Golar LNG has also progressed with a rating process to further evaluate debt optimization alternatives for the vessel during the reported quarter. Adjusted EBITDA of $40.9 million declined 36% year over year. GLNG exited the first quarter of 2025 with cash and cash equivalents of $521.43 million compared with $566.38 million at the end of the prior quarter. GLNG's share of contractual debt at the end of the reported quarter increased 24% to $1.49 billion. GLNG's board of directors approved a first-quarter 2025 dividend of 25 cents per share. The dividend will be paid on or around June 10, 2025, to shareholders of record at the close of business on June 3. As of March 31, 2025, 104.7 million shares are issued and outstanding. Currently, GLNG sports a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Vista Energy S.A.B. de CV's VIST reported first-quarter 2025 adjusted earnings per share of 79 cents, which missed the Zacks Consensus Estimate of 82 cents. However, the bottom line increased from the prior-year quarter's 49 cents. The leading independent oil and gas producer's quarterly revenues of $438 million significantly increased from $317 million in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $457 million. Eni S.p.A E reported first-quarter 2025 adjusted earnings from continuing operations of 92 cents per American Depository Receipt, which beat the Zacks Consensus Estimate of 91 cents. The bottom line declined from the year-ago quarter's level of $1.04. Total quarterly revenues of $24.2 billion beat the Zacks Consensus Estimate of $22.3 billion. The top line, however, declined from $25.2 billion a year ago. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E) : Free Stock Analysis Report Golar LNG Limited (GLNG) : Free Stock Analysis Report Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
27-05-2025
- Business
- Yahoo
Golar LNG Limited: 2025 AGM Results Notification
Golar LNG Limited (the 'Company') advises that the 2025 Annual General Meeting of the Company was held on May 20, 2024 at 10:00 am (Bermuda time) at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2024 were presented at the Meeting. The following resolutions were passed: To set the maximum number of Directors to be not more than eight. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorized to fill such vacancies as and when it deems fit. To re-elect Tor Olav Trøim as a Director of the Company. To re-elect Daniel W. Rabun as a Director of the Company. To re-elect Carl E. Steen as a Director of the Company. To re-elect Niels G. Stolt-Nielsen as a Director of the Company. To re-elect Lori Wheeler Naess as a Director of the Company. To elect Benoît de la Fouchardiere as a Director of the Company. To elect Mi Hong Yoon as a Director of the Company. To re-appoint Ernst & Young LLP of London, England as auditors and to authorise the Directors to determine their remuneration. To approve remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$2,000,000.00 for the year ended December 31st, 2025. Golar would like to thank Georgina Sousa and Thorleif Egeli who retired from Golar's Board of Directors today after two decades of combined service to the Company. Their contribution to the governance and transformation of Golar from a shipping company to a pure play FLNG business has been invaluable and we wish them well. Following their election today as Directors, Golar also welcomes Benoît de la Fouchardiere and Mi Hong Yoon to its Board. Both have already contributed to Golar's success - in the case of Benoît, through his part in contracting FLNG Hilli in Cameroon; and in the case of Mi Hong - through her role as Company Secretary. The Company looks forward to benefiting from their relevant and extensive experience as it seeks to grow its leading FLNG offering. Hamilton, BermudaMay 20, 2025 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Yahoo
27-05-2025
- Business
- Yahoo
Key information relating to the cash dividend to be paid by Golar LNG Limited (Ticker: GLNG)
Reference is made to the first quarter 2025 report released on May 27, 2025. Golar LNG Limited ('Golar'), NASDAQ ticker: GLNG, has declared a total dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025. Due to the implementation of the Central Securities Depository Regulation ('CSDR'), please note the information below on the payment date for the small number of Golar shares registered in Norway's central securities depository ('VPS'): Dividend amount: $0.25 per share Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK Last day including right: May 30, 2025 Ex-date: June 2, 2025 Record date: June 3, 2025 Payment date: On or about June 10, 2025. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about June 12, 2025. Golar LNG LimitedHamilton, BermudaMay 27, 2025 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Golar LNG Limited: 2025 AGM Results Notification
Golar LNG Limited (the 'Company') advises that the 2025 Annual General Meeting of the Company was held on May 20, 2024 at 10:00 am (Bermuda time) at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2024 were presented at the Meeting. The following resolutions were passed: To set the maximum number of Directors to be not more than eight. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorized to fill such vacancies as and when it deems fit. To re-elect Tor Olav Trøim as a Director of the Company. To re-elect Daniel W. Rabun as a Director of the Company. To re-elect Carl E. Steen as a Director of the Company. To re-elect Niels G. Stolt-Nielsen as a Director of the Company. To re-elect Lori Wheeler Naess as a Director of the Company. To elect Benoît de la Fouchardiere as a Director of the Company. To elect Mi Hong Yoon as a Director of the Company. To re-appoint Ernst & Young LLP of London, England as auditors and to authorise the Directors to determine their remuneration. To approve remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$2,000,000.00 for the year ended December 31st, 2025. Golar would like to thank Georgina Sousa and Thorleif Egeli who retired from Golar's Board of Directors today after two decades of combined service to the Company. Their contribution to the governance and transformation of Golar from a shipping company to a pure play FLNG business has been invaluable and we wish them well. Following their election today as Directors, Golar also welcomes Benoît de la Fouchardiere and Mi Hong Yoon to its Board. Both have already contributed to Golar's success - in the case of Benoît, through his part in contracting FLNG Hilli in Cameroon; and in the case of Mi Hong - through her role as Company Secretary. The Company looks forward to benefiting from their relevant and extensive experience as it seeks to grow its leading FLNG offering. Hamilton, BermudaMay 20, 2025 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
