6-K
BW LPG Ltd (BWLP)
UNITED STATES
SECURITIES AND EXCHANGECOMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TORULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2025
Commission File Number: 001-42008
| BW LPG Limited |
|---|
| (Translation of registrant’s name into English) |
| c/o BW LPG Holding Pte Ltd<br><br> <br>10 Pasir Panjang Road,<br><br> <br>#17-02 Mapletree Business City, Singapore<br><br> <br>117438 |
| --- |
| (Address of principal executive office) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
DOCUMENTS TO BE FURNISHED AS PART OF THIS FORM 6-K
| Exhibit Number | Description |
|---|---|
| 99.1 | BW LPG Limited – Management Share Option Plan “LTIP 2022” – Award of Share Options |
| 99.2 | 2025-02-27 MAR Forms Acceptance of options |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BW LPG Limited | ||
|---|---|---|
| By: | /s/ Samantha Xu | |
| Name: | Samantha Xu | |
| Title: | Chief Financial Officer | |
| Date: February 27, 2025 |
Exhibit 99.1
BW LPG Limited - Management Share Option Plan “LTIP 2022” – Award of Share Options
27 February 2025
The Board of Directors of BW LPG Limited “BW LPG" or the "Company", OSE ticker code: "BWLPG.OL", NYSE ticker code "BWLP) has approved the award of share options to senior management and certain employees of the Company.
This is the fourth annual award of share options under the five-year long-term management share option plan (“LTIP 2022”) which was launched on 1 Mar 2022. LTIP 2022 is aimed at aligning the interests of senior management and key employees of the Company with those of the shareholders. Details of the plan can be found in the following link: https://www.bwlpg.com/media/press-release/bw-lpg-management-share-option-plan-ltip-2022-award-of-share-options/
The total number of options that will be awarded in 2025 is 657,935. The options are awarded in connection with the publication of the quarterly report for Q4 2024.
The following primary insiders of the Company have been awarded options under LTIP 2022, as further described below and in the attached forms.
Kristian Sorensen, Chief Executive Officer
Options granted in prior years: 441,294
Options granted in 2025: 220,647
Total options held: 661,941
Shares held: 7,000
Samantha Xu, Chief Financial Officer
Options granted in prior years: 85,000
Options granted in 2025: 85,000
Total options held: 170,000
Shares held: 2,000
Prodyut Banerjee, Vice President and Head of Operations
Options granted in prior years: 101,624
Options granted in 2025: 50,812
Total options held: 152,436
Shares held: 0
Knut-Helge Knutsen, Vice President and Head of Technical
Options granted in prior years: 101,624
Options granted in 2025: 50,812
Total options held: 152,436
Shares held: 0
Iver Baatvik, Vice President and Head of Corporate Development
Options granted in prior years: 75,652
Options granted in 2025: 50,812
Total options held: 124,464
Shares held: 24,840
Leona Leo, Vice President and Head of Human Resources
Options granted in prior years: 0
Options granted in 2025: 50,812
Total options held: 50,812
Shares held: 0
For further information, please contact:
Samantha Xu
Chief Financial Officer
E-mail: [email protected]
About BW LPG
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. With five decades of operating experience in LPG shipping, an in-house LPG trading division and a growing presence in LPG terminal infrastructure and distribution, BW LPG offers an integrated, flexible, and reliable service to customers along the LPG value chain. More information about BW LPG can be found at www.bwlpg.com
BW LPG is associated with BW Group, a leading global maritime company involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies. Founded in 1955 by Sir YK Pao, BW controls a fleet of over 450 vessels transporting oil, gas and dry commodities, with its 200 LNG and LPG ships constituting the largest gas fleet in the world. In the renewables space, the group has investments in solar, wind, batteries, biofuels and water treatment.
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation.
Exhibit 99.2
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
|---|---|---|---|---|
| a) | Name | Kristian Sørensen | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Chief Executive Officer | ||
| b) | Initial notification/Amendment | Initial notification | ||
| 3 | Details of issuer | |||
| a) | Name | BW LPG Limited | ||
| b) | LEI | 5493006WBEME88YFDW23 | ||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||
| a) | Description of the financial instrument, type of instrument<br><br> <br>Identification code | Share options relating to the shares of BW LPG Limited with ISIN SGXZ69436764. | ||
| b) | Nature of the transaction | Acceptance of share options. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 0 | 220,647 | |||
| d) | Aggregated information | Acceptance of 220,647 share options for no consideration. A strike price must be paid upon exercise. | ||
| — Aggregated volume | ||||
| — Price | ||||
| e) | Date of the transaction | 2025-02-27 | ||
| f) | Place of the transaction | Outside a trading venue |
1
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
|---|---|---|---|---|
| a) | Name | Samantha Xu | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Chief Financial Officer | ||
| b) | Initial notification/Amendment | Initial notification | ||
| 3 | Details of issuer | |||
| a) | Name | BW LPG Limited | ||
| b) | LEI | 5493006WBEME88YFDW23 | ||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||
| a) | Description of the financial instrument, type of instrument<br><br> <br>Identification code | Share options relating to the shares of BW LPG Limited with ISIN SGXZ69436764. | ||
| b) | Nature of the transaction | Acceptance of share options. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 0 | 85,000 | |||
| d) | Aggregated information | Acceptance of 85,000 share options for no consideration. A strike price must be paid upon exercise. | ||
| — Aggregated volume | ||||
| — Price | ||||
| e) | Date of the transaction | 2025-02-27 | ||
| f) | Place of the transaction | Outside a trading venue |
2
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
|---|---|---|---|---|
| a) | Name | Prodyut Banerjee | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Vice President and Head of Operations | ||
| b) | Initial notification/Amendment | Initial notification | ||
| 3 | Details of issuer | |||
| a) | Name | BW LPG Limited | ||
| b) | LEI | 5493006WBEME88YFDW23 | ||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||
| a) | Description of the financial instrument, type of instrument<br><br> <br>Identification code | Share options relating to the shares of BW LPG Limited with ISIN SGXZ69436764. | ||
| b) | Nature of the transaction | Acceptance of share options. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 0 | 50,812 | |||
| d) | Aggregated information | Acceptance of 50,812 share options for no consideration. A strike price must be paid upon exercise. | ||
| — Aggregated volume | ||||
| — Price | ||||
| e) | Date of the transaction | 2025-02-27 | ||
| f) | Place of the transaction | Outside a trading venue |
3
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
|---|---|---|---|---|
| a) | Name | Knut-Helge Knutsen | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Vice President and Head of Technical | ||
| b) | Initial notification/Amendment | Initial notification | ||
| 3 | Details of issuer | |||
| a) | Name | BW LPG Limited | ||
| b) | LEI | 5493006WBEME88YFDW23 | ||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||
| a) | Description of the financial instrument, type of instrument<br><br> <br>Identification code | Share options relating to the shares of BW LPG Limited with ISIN SGXZ69436764. | ||
| b) | Nature of the transaction | Acceptance of share options. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 0 | 50,812 | |||
| d) | Aggregated information | Acceptance of 50,812 share options for no consideration. A strike price must be paid upon exercise. | ||
| — Aggregated volume | ||||
| — Price | ||||
| e) | Date of the transaction | 2025-02-27 | ||
| f) | Place of the transaction | Outside a trading venue |
4
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
|---|---|---|---|---|
| a) | Name | Iver Baatvik | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Vice President and Head of Corporate Development | ||
| b) | Initial notification/Amendment | Initial notification | ||
| 3 | Details of issuer | |||
| a) | Name | BW LPG Limited | ||
| b) | LEI | 5493006WBEME88YFDW23 | ||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||
| a) | Description of the financial instrument, type of instrument<br><br> <br>Identification code | Share options relating to the shares of BW LPG Limited with ISIN SGXZ69436764. | ||
| b) | Nature of the transaction | Acceptance of share options. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 0 | 50,812 | |||
| d) | Aggregated information | Acceptance of 50,812 share options for no consideration. A strike price must be paid upon exercise. | ||
| — Aggregated volume | ||||
| — Price | ||||
| e) | Date of the transaction | 2025-02-27 | ||
| f) | Place of the transaction | Outside a trading venue |
5
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
|---|---|---|---|---|
| a) | Name | Leona Leo | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Vice President and Head of HR | ||
| b) | Initial notification/Amendment | Initial notification | ||
| 3 | Details of issuer | |||
| a) | Name | BW LPG Limited | ||
| b) | LEI | 5493006WBEME88YFDW23 | ||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||
| a) | Description of the financial instrument, type of instrument<br><br> <br>Identification code | Share options relating to the shares of BW LPG Limited with ISIN SGXZ69436764. | ||
| b) | Nature of the transaction | Acceptance of share options. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 0 | 50,812 | |||
| d) | Aggregated information | Acceptance of 50,812 share options for no consideration. A strike price must be paid upon exercise. | ||
| — Aggregated volume | ||||
| — Price | ||||
| e) | Date of the transaction | 2025-02-27 | ||
| f) | Place of the transaction | Outside a trading venue |
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