Höegh LNG Partners LP To Voluntarily Delist Its 8.75% Series

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Credit: william william/Unsplash

Höegh LNG Partners LP announces that its board of directors has approved the delisting of the Partnership’s 8.75% Series A Cumulative Redeemable Preferred Units , says an article published on Marine Insight.

Withdraw the registration

The Partnership also plans to give notice to the New York Stock Exchange (“NYSE”) of its intent to voluntarily delist the Preferred Units and to withdraw the registration of its Preferred Units with the Securities and Exchange Commission (“SEC”).

Suspend the Partnership’s

The Partnership intends to file a Form 25 Notification of Removal from Listing with the SEC on or about December 23, 2022, and the delisting will be effective on or about January 2, 2023, ten days after the filing of the Form 25.

In connection with the foregoing, the Partnership also intends to file a Form 15 with the SEC to suspend the Partnership’s reporting obligations under the Securities Exchange Act of 1934, as amended, in connection with the Preferred Units.

The Partnership has not arranged for listing and/or registration on another national securities exchange or for quotation of the Preferred Units in a quotation medium.

Partnership agreement

However, the rights of the holders of the Preferred Units will not be affected under the Partnership’s limited partnership agreement.

After the delisting and deregistration of the Preferred Units, the Partnership expects to continue to make annual and quarterly financial statements available to the public on its website.

Significant legal

The Board’s decision to delist and deregister the Preferred Units was based on a review of several factors, including the costs associated with maintaining the Partnership’s listing and preparing and filing periodic reports with the SEC, the reduction of significant legal, audit and other costs associated with being a reporting company, the likely inability of the Partnership to raise capital through issuance of additional Preferred Units and eliminating the demands on management’s time of complying with the NYSE listing standards and SEC reporting rules.

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Source: Marine Insight

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