STAMFORD, Conn., June 25, 2014 /PRNewswire/ --Dorian LPG Ltd. (NYSE: LPG) (the "Company" or "Dorian LPG") announced today the expiration and results of its offer to exchange all of the unregistered common shares that it previously issued in its prior equity private placements (the "Original Shares"), other than the common shares owned by affiliates of the Company, for common shares (the "Exchange Shares") that have been registered under the Securities Act of 1933, as amended (the "Securities Act"), the complete terms and conditions of which were set forth in a prospectus dated May 8, 2014 and the related letter of transmittal (the "Exchange Offer").
As of 5:00 p.m. New York City time (11:00 p.m. Oslo Time) on Saturday, June 21, 2014, the expiration of the Exchange Offer, according to DNB Bank ASA, the Norwegian Exchange Agent, the aggregate number of Original Shares validly tendered, and not validly withdrawn, in exchange for Exchange Shares was 15,528,507 shares, which represents approximately 97% of the Original Shares eligible to participate in the Exchange Offer.
Following the completion of the Exchange Offer, holders of Original Shares that were not tendered may only be resold pursuant to an available exemption from registration under the Securities Act and applicable state securities laws.
This press release shall not constitute an offer to sell or exchange any securities or a solicitation of an offer to buy or exchange any securities.
About Dorian LPG Ltd.
Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently owns and operates three modern VLGCs and one pressurized LPG vessel. In addition, Dorian LPG has 19 ECO VLGC newbuildings under construction. Dorian LPG has offices in Connecticut, USA, London, United Kingdomand Piraeus,Greece.
Forward-Looking Statements
This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's registration statements, as amended, under the heading "Risk Factors." The Company does not assume any obligation to update the information contained in this press release.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contact Information
Marina Hadjipateras; Investor Relations: Tel.: +1 (203) 978-1234
SOURCE Dorian LPG Ltd.
