Avance Gas Holding Ltd: Completed the tenth VLGC delivery to BW LPG successfully

15 Dec 2024 12:25 CET

Hamilton, Bermuda. December 15, 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,
consisting of twelve vessels, to BW LPG Ltd ("BW LPG" or "Buyer").

Avance Gas announces today the tenth VLGC delivery, the 2015-built scrubber-
fitted vessel, Breeze. In connection with the delivery, 1.35 million shares in
BW LPG were issued by the Buyer to Avance Gas. Additionally, the Company also
received net cash proceeds of approximately $21.5 million after repayment of
outstanding debt. Following the delivery, Avance Gas owns 15.791 million shares
in BW LPG corresponding to a 10.14% ownership share.

The two remaining vessels are scheduled for delivery to BW LPG by year-end, with
press releases to be issued upon completion.


For further queries, please contact:

Media contact: Øystein Kalleklev, CEO, Tel: +47 23 11 40 00

Investor and Analyst contact: Randi Navdal Bekkelund, CFO, Tel: +47 23 11 40 00

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

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