Awilco LNG

Prospectus • Jun 21, 2017

ALNG - Announcement of Subsequent Offering and approval of prospectus

ALNG - Announcement of Subsequent Offering and approval of prospectus

Awilco LNG ASA - Approval of prospectus in connection with

subsequent offering and listing of private placement shares,

and announcement of subsequent offering

Oslo, 21 June 2017

Reference is made to previous stock exchange releases by

Awilco LNG ASA (the "Company") published on 12 June 2017

regarding the extraordinary general meeting in the Company

approving a private placement of 61,400,000 new shares

(the "Private Placement Shares") raising gross proceeds of

approximately NOK 215 million (the "Private Placement") and

the subsequent offering (the "Subsequent Offering") of up to

5,715,000 new shares ("Offer Shares") raising gross proceeds

of up to NOK 20 million.

The Norwegian Financial Supervisory Authority has approved

the prospectus of the Company dated 21 June 2017

(the "Prospectus"), for the (i) listing of 61,400,000

Private Placement Shares issued in connection with the

Private Placement, each with a par value of NOK 2.50; and

(ii) the Subsequent Offering and listing of up to 5,715,000

Offer Shares, each with a par value of NOK 2.50.

The Prospectus will be available on the following websites:

www.awilcolng.no and www.abgsc.no. Hard copies of the

Prospectus may be obtained at the offices of ABG Sundal

Collier at Munkedamsveien 45, 0250 Oslo, Norway.

The Private Placement Shares have been registered with the

VPS under the separate ISIN number ISIN NO001 0798085 until

the approval of the Prospectus. As from 23 June 2017 the

Private Placement Shares will be registered in book-entry

form with the VPS under the same ISIN number as the

Company's existing shares (ISIN NO0010607971). The Offer

Shares will be registered in the VPS under the same ISIN.

The Private Placement Shares and the Offer Shares are equal

in all respects to the Company's shares. The Private

Placement Shares will be listed on Oslo Axess on 23 June

2017 and the Offer Shares are expected to be listed on Oslo

Axess on or about 13 July 2017.

The Subsequent Offering is directed towards shareholders who

(i) were registered as holders of shares in the Company's

register of shareholders with the Norwegian Central

Securities Depository (Nw. Verdipapirsentralen) (the "VPS")

as of expiry of 22 May 2017 (the "Record Date"), (ii) were

not offered to participate in the Private Placement, and

(iii) are not resident in a jurisdiction where such offering

would be unlawful or, for jurisdictions other than Norway,

would require any prospectus filing, registration or similar

action (the "Eligible Shareholders").

For shares recorded as held in the Company as of expiry of

the Record Date, each Eligible Shareholder will receive non-

transferable subscription rights (the "Subscription

Rights"), rounded down to the nearest whole Subscription

Right. One (1) Subscription Right will give the right to

subscribe for, and be allocated, one (1) Offer Share,

subject to the selling and transfer restrictions set out in

Section 16 "Selling and Transfer Restrictions" in the

Prospectus. Subscription without Subscription Rights and

oversubscription is permitted, however there can be no

assurance that Offer Shares will be allocated for such

subscription.

Eligible Shareholders are offered to subscribe for Offer

Shares in the Company at the subscription price of NOK 3.50,

which is the same subscription price as in the Private

Placement.

The Subscription Rights may be used to subscribe for Offer

Shares from 23 June 2017 until 16:30 hours (CET) on 3 July

2017 (the "Subscription Period"). Subscription Rights that

are not used to subscribe for Offer Shares before the expiry

of the Subscription Period will lapse without compensation

to the Eligible Shareholders. Holders of Subscription Rights

should note that subscriptions for Offer Shares must be made

in accordance with the procedures set out in the Prospectus

and that holding Subscription Rights in itself does not

represent a subscription for Offer Shares.

Allocation of the Offer Shares is expected to take place on

or about 4 July 2017. Notifications of allocated Offer

Shares in the Subsequent Offering and the corresponding

amount to be paid by each subscriber will be set out in a

letter from the VPS, which is expected to be mailed on or

about 4 July 2017. Assuming due payment of the Offer Shares

subscribed for and allocated in the Subsequent Offering,

delivery of the Offer Shares in the VPS is expected to take

place on or about 13 July 2017, following and subject to the

registration of the share capital increase pertaining to the

Offer Shares in the Norwegian Register of Business

Enterprises.

ABG Sundal Collier acts as Manager in connection with the

Subsequent Offering.

An investment in Awilco LNG ASA and its shares involves

inherent risks. More information about this and other

matters it is important to understand before an investment

decision is made, can be found in the Prospectus. The

information in this release does not constitute a basis for

making an investment decision. More extensive information

about the Subsequent Offering is included in the Prospectus.

For further information, please contact:

Snorre Schie Krogstad, CFO

+47 90 85 83 93

Important information:

The release is not for publication or distribution, in whole

or in part directly or indirectly, in or into Australia,

Canada, Japan or the United States (including its

territories and possessions, any state of the United States

and the District of Columbia) or any other jurisdiction in

which the release, publication or distribution would be

unlawful. This release is an announcement issued pursuant to

legal information obligations, and is subject of the

disclosure requirements pursuant to section 5-12 of the

Norwegian Securities Trading Act. It is issued for

information purposes only, and does not constitute or form

part of any offer or solicitation to purchase or subscribe

for securities, in the United States or in any other

jurisdiction. The securities mentioned herein have not been,

and will not be, registered under the United States

Securities Act of 1933, as amended (the "US Securities

Act"). The securities may not be offered or sold in the

United States except pursuant to an exemption from the

registration requirements of the US Securities Act. The

Company does not intend to register any portion of the

offering of the securities in the United States or to

conduct a public offering of the securities in the United

States. Copies of this announcement are not being made and

may not be distributed or sent into Australia, Canada, Japan

or the United States. The issue, exercise, purchase or sale

of subscription rights and the subscription or purchase of

shares in the Company are subject to specific legal or

regulatory restrictions in certain jurisdictions. Neither

the Company nor the Manager assumes any responsibility in

the event there is a violation by any person of such

restrictions.

The distribution of this release may in certain

jurisdictions be restricted by law. Persons into whose

possession this release comes should inform themselves about

and observe any such restrictions. Any failure to comply

with these restrictions may constitute a violation of the

securities laws of any such jurisdiction. The Manager are

acting for the Company and no one else in connection with

the Private Placement and will not be responsible to anyone

other than the Company for providing the protections

afforded to their respective clients or for providing advice

in relation to the Private Placement and/or any other

matter referred to in this release.

Forward-looking statements:

This release and any materials distributed in connection

with this release may contain certain forward-looking

statements. By their nature, forward-looking statements

involve risk and uncertainty because they reflect the

Company's current expectations and assumptions as to future

events and circumstances that may not prove accurate. A

number of material factors could cause actual results and

developments to differ materially from those expressed or

implied by these forward-looking statements.