Nordic Business Report-April 10, 2006-Golar LNG to acquire 23m shares in Australia's LNGL
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The Bermuda-registered Norwegian shipping company Golar LNG Limited reported on Monday (10 April) that it has signed an equity subscription agreement with Australia's Liquefied Natural Gas Limited (LNGL).
Under the agreement Golar LNG will acquire 23 million shares in LNGL at AUD0.50 per share. Of the total amount 13.95 million shares are unconditional and 9.05 million are subject to approval being given by the shareholders of Liquefied Natural Gas Limited.
Through the transaction Golar LNG is expected to acquire a total of 19.83% of the issued capital and will become LNGL's largest shareholder.
Gary Smith, CEO of Golar LNG, has been appointed to LNGL's board of directors.
One Australian dollar (AUD) is worth approximately 0.42 British pounds (GBP).
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