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Bermuda, 15 January, 2015 On 31 December, 2014, Avance Gas Holding Ltd (OSE: "AVANCE") announced that its Board of Directors had resolved to initiate a share buy-back program to purchase up to 1.5 million common shares for a maximum aggregate amount of USD 15 million commencing on the date of announcement and continuing until and including 15 January, 2015. As of market close today, the company has purchased 939,039 common shares at an average price of NOK 104.11 per share pursuant to the buy-back program, for an aggregate consideration of NOK 97.9 million (USD 12.6 million). It has been decided to extend the duration of the buy-back program until and including 6 March, 2015, but the buy-back program is suspended until and including 26 February 2015, which is the date the company will announce its fourth quarter 2014 results. 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 six modern ships and has a newbuilding program of eight VLGCs. For more information about Avance Gas, please visit: www.avancegas.com. Avance Gas, press release |
