AVACF AVANCE GAS HOLDINGS LTD

Avance Gas Holding Ltd: Successfully completed the seventh VLGC delivery to BW LPG

Avance Gas Holding Ltd: Successfully completed the seventh VLGC delivery to BW LPG

Hamilton, Bermuda. December 7, 2024.

Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS) refers to the announcement on August 15, 2024, regarding the sale of its VLGC fleet to BW LPG Ltd ("BW LPG" or "Buyer") for $1,050 million.

Today Avance Gas announces the seventh VLGC delivery, the 2015-built vessel Pampero. In connection with the delivery, 1.350 million shares in BW LPG were issued by the Buyer to Avance Gas. The ship mortgage has been repaid and Avance Gas expects to receive net cash proceeds of approximately $7 million. Following the delivery, Avance Gas owns 10.991 million shares in BW LPG corresponding to a 7.28% ownership share. These consideration shares have a lock-up period of 40 days from the issuance date as previously announced. Pampero is currently on a variable Time Charter expiring in August 2025 and this Time Charter has been successfully novated to BW LPG.

The five remaining vessels are scheduled for delivery to BW LPG later in December 2024. Avance Gas will issue regular press releases in connection with the remaining deliveries.

For further queries, please contact:

Media contact: Øystein Kalleklev, CEO Tel:

Investor and Analyst contact: Randi Navdal Bekkelund, CFO Tel:

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.



EN
07/12/2024

Underlying

AVACFAVANCE GAS HOLDINGS LTD

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on AVANCE GAS HOLDINGS LTD

 PRESS RELEASE
Free
AVACF AVANCE GAS HOLD...

Avance Gas Holding Ltd: Special General Meeting – resolutions passed

Avance Gas Holding Ltd: Special General Meeting – resolutions passed Avance Gas Holding Ltd (the “Company”) advises that a Special General Meeting of the Shareholders of the Company (“SGM”) was held on 16 May 2025 at at 09:30 hrs, at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton, HM08, Bermuda, in relation to the proposed liquidation of the Company, appointing Mike Penrose of EY Bermuda Ltd. and Igal Wizman of EY Bahamas Ltd. as joint liquidators,  and the delisting of the Company’s common shares from the Oslo Stock Exchange.  Accordingly, the following resolutions were pa...

May 16, 2025 1 EN
 PRESS RELEASE
Free
AVACF AVANCE GAS HOLD...

Avance Gas Holding Ltd: Change in Director Appointment

Avance Gas Holding Ltd: Change in Director Appointment Avance Gas Holding Ltd (“Avance Gas” or the "Company") announces that the Board of Directors has resolved to appoint James Ayers and Jonathan Burnett as Directors of the Company and accept the resignations of Øystein Kalleklev, Will Homan-Russell, François Sunier and Kathrine Fredriksen, all with immediate effect (“Directorship Changes”). James Ayers and Jonathan Burnett are currently CEO and CFO respectively of Front Ocean Management Ltd., a shared-service organization located in Bermuda, which provides various corporate and directors...

May 13, 2025 1 EN
Jørgen Lian
  • Jørgen Lian
Free Trial
AVACF AVANCE GAS HOLD...

Avance Gas (No_rec, TP: NOK) - Discontinuing coverage

We have discontinued coverage of Avance Gas, as it no longer has any assets, and does not plan to make any new investments. According to the company, remaining funds after its final USD0.74 DPS, to be paid on 7 May (ex-date 24 April), are expected to be used to settle any outstanding obligations to creditors, including liquidation fees, and the stock is expected to be delisted in June/July 2025. Our last published recommendation, target price and estimates should no longer be relied upon.

AVACF AVANCE GAS HOLDINGS LTD
04/28/25 April 28, 2025 1 EN
 PRESS RELEASE
Free
AVACF AVANCE GAS HOLD...

Avance Gas Holding Ltd: First Quarter 2025 Earnings Release

Avance Gas Holding Ltd: First Quarter 2025 Earnings Release HIGHLIGHTS Net profit of $42.6 million and earnings per share of $0.56 for the first quarter 2025, compared to net income of $210.2 million and earnings per share of $2.74 for the fourth quarter 2024. On February 28, 2025, the sale of the four Mid-Sized Gas Carriers (“MGCs”) newbuilding contracts to subsidiaries of Exmar LPG B.V. (“Exmar”) was successfully completed. Avance Gas received reimbursement of $62.1 million of yard instalments paid by Avance Gas to the yard. The Company recorded a gain on sale of $34.2 million in relatio...

April 25, 2025 1 EN
 PRESS RELEASE
Free
AVACF AVANCE GAS HOLD...

Avance Gas Holding Ltd (OSE: AGAS) (“AGAS” or the “Company”) – Notice ...

Avance Gas Holding Ltd (OSE: AGAS) (“AGAS” or the “Company”) – Notice of Special General Meeting Reference is made to the press releases issued by the Company on 27 November 2024, in connection with Third Quarter 2024 Earnings, and on 6 December 2024, which stated the intention to wind-up AGAS. In preparation for this, the Company advises that a special general meeting of the Company will be held on 16 May 2025 (the “SGM”) for its shareholders to consider and approve the liquidation of the Company and the delisting of the Company’s common shares from the Oslo Stock Exchange.  A copy of the...

April 24, 2025 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch