Reference is made to the stock exchange announcement made by BW LPG Limited (“BW LPG” or the “Company”, OSE ticker code: “BWLPG.OL”, NYSE ticker code “BWLP”) on 13 June 2024 regarding the subsequent court hearing (the “Sanction Hearing“) at which the Company was to petition the Supreme Court of Bermuda (the “Court“) to sanction the scheme of arrangement (the “Scheme“) between the Company and its shareholders pursuant to Section 99 of the Bermuda Companies Act 1981 as amended in order to effect a discontinuance of the Company from Bermuda and continuance to Singapore and adopt the constitution of the Company which will take effect upon continuance in Singapore (the “Redomiciliation“). The Court held the Sanction Hearing on 20 June 2024 where the Court sanctioned the Scheme.
A copy of the court order is expected to be filed with the Registrar of Companies in Bermuda on or around 25 June 2024, upon which the Scheme will become binding on the Company and its shareholders.
The Company expects that the Redomiciliation will come into effect on or around 1 July 2024, subject to the filing of the court order, the final approval by the Singapore Accounting and Corporate Regulatory Authority and the satisfaction or waiver of all conditions to the Scheme as set out in the Scheme. The Company will have a new company registration number and the Company’s shares will be registered under a new ISIN code for trading on the Oslo Stock Exchange and a new CUSIP code for the trading on the New York Stock Exchange due to the Redomiciliation. BW LPG has not yet received a new ISIN or CUSIP code, but it is anticipated that trading will start under the new ISIN and CUSIP codes on or around 5 July 2024, subject to the completion of the Redomiciliation and the Depository Trust Company (the “DTC“) approving the eligibility of the new CUSIP. The Company’s common shares will remain trading on the Oslo Stock Exchange under the ticker “BWLPG” and the New York Stock Exchange under the ticker “BWLP” during the process on change of ISIN and CUSIP code.
Source: BW LPG