Bermuda, 16 September 2016 - Avance Gas Holding Ltd (OSE: AVANCE) announces that agreement has been reached for the sale of the LNG carrier Gaea, with delivery and payment in December 2016. The sale proceeds correspond to the book value and will generate approximately $13.3 million in net cash proceeds, further strengthening the company's liquidity position.
For further queries, please contact:
Christian Andersen, President
Tel: +47 22 00 48 05 / Email: [email protected]
Peder C. G. Simonsen, CFO
Tel: +47 22 00 48 15 / Email: [email protected]
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 modern ships. For more information about Avance Gas, please visit: www.avancegas.com.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Avance Gas Holding Ltd via Globenewswire