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Avance Gas Holding Ltd – Completion of the sale of the VLGC Thetis Glory

Written by Customer Service on . Posted in Public Companies.

Bermuda, 3 March 2022 – Avance Gas Holding Ltd (OSE: AGAS or the “Company”) announce today the successful completion of the 2008-built VLGC Thetis Glory previously announced in a press release dated 13 January 2022. Following debt repayment, the sale will generate approximately USD 22.5 million in net cash proceeds and a book profit of approximately USD 6 mill to be recognised in the first quarter 2022.

The sale follows the company’s fleet renewal strategy, reducing average age and emissions while improving the fuel efficiency of the overall fleet.

For further queries, please contact:

Randi Navdal Bekkelund, CFO
Tel: +47 22 00 48 29
Email: randi.navdal@avancegas.com

About Avance Gas:
Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world’s leading owners and operators of very large gas carrier (VLGC) and operates a fleet of fourteen ships and 4 Dual Fuel LPG newbuildings due for delivery in Q4 2022 and Q1-Q4 2023. For more information about Avance Gas, please visit www.avancegas.com.

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

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