UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 20-F/A
(Amendment No. 1)

 

(Mark One)
o	REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
x	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2019
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
o	SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

 

GasLog Partners LP (Exact name of Registrant as specified in its charter)

Not Applicable (Translation of Registrant’s name into English)

Republic of the Marshall Islands (Jurisdiction of incorporation or organization)

c/o GasLog LNG Services Ltd 69 Akti Miaouli 18537 Piraeus Greece (Address of principal executive offices)

Nicola Lloyd, General Counsel c/o GasLog LNG Services Ltd, 69 Akti Miaouli 18537 Piraeus, Greece Telephone:  +30 210 459 1000 Fax:  +30 210 459 1242 (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

 

SECURITIES REGISTERED OR TO BE REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

 

Title of Each Class		Trading Symbols		Name of Each Exchange on Which Registered
Common Units representing limited partner interests		GLOP		New York Stock Exchange
Series A Preference Units		GLOP PR A		New York Stock Exchange
Series B Preference Units		GLOP PR B		New York Stock Exchange
Series C Preference Units		GLOP PR C		New York Stock Exchange

 

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None

 

SECURITIES FOR WHICH THERE IS A REPORTING OBLIGATION PURSUANT TO SECTION 15(d) OF THE ACT: None

 

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

 

As of December 31, 2019, there were 46,860,182 Partnership common units, 2,490,000 Class B Units, 5,750,000 Series A Preference Units, 4,600,000 Series B Preference Units and 4,000,000 Series C Preference Units outstanding.

 

Indicate by check mark if the Company is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

 

Yes x  No o

 

If this report is an annual or transition report, indicate by check mark if the Company is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

 

Yes o  No x

 

Indicate by check mark whether the Company (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

Yes x  No o

 

Indicate by check mark whether the Company has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Company was required to submit such files).

 

Yes x  No o

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer x

Accelerated filer o

Non-accelerated filer o

Emerging growth company o

 

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. o

 

†The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

 

Indicate by check mark which basis of accounting the Company has used to prepare the financial statements included in this filing.

 

U.S. GAAP o

International Financial Reporting Standards as issued by the International Accounting Standards Board x

Other o

 

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the Company has elected to follow.

 

Item 17 o  Item 18 o

 

If this is an annual report, indicate by check mark whether the Company is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Yes o  No x

 

 

 

EXPLANATORY NOTE

 

This Amendment No. 1 on Form 20-F/A (this “Amendment”) amends our annual report on Form 20-F for the year ended December 31, 2019, which was filed with the Securities and Exchange Commission on March 3, 2020 (the “Original Filing”). This Amendment is being made solely for the purpose of correcting a typographical error in the disclosure in Item 3 of the Original Filing, under the heading “Reconciliation of Partnership Performance Results to IFRS Common Control Reported Results in our Financial Statements”, to adjust the alignment of the column headers in the table below. The financial information disclosed in the table is unchanged. Only the alignment of the headers has been corrected.

 

This Amendment consists solely of the cover page and this explanatory note. Except as described above, this Amendment does not amend any information set forth in the Original Filing, and we have not updated disclosures included therein to reflect any events that occurred subsequent to March 3, 2020. Accordingly, this Amendment should be read in conjunction with the Original Filing and with our filings with the U.S. Securities Exchange Commission subsequent to the Original Filing.

 

		Year ended December 31, 2016									Year ended December 31, 2017									Year ended December 31, 2018									Year ended December 31, 2019
		Results Attributable to GasLog			Partnership Performance Results			IFRS Common Control Reported Results			Results Attributable to GasLog			Partnership Performance Results			IFRS Common Control Reported Results			Results Attributable to GasLog			Partnership Performance Results			IFRS Common Control Reported Results			Results Attributable to GasLog			Partnership Performance Results			IFRS Common Control Reported Results
		Restated(1)						Restated(1)			Restated(1)						Restated(1)			Restated(1)						Restated(1)
		(in thousands of U.S. dollars)
STATEMENT OF PROFIT OR LOSS
Revenues		$	126,531		$	206,424		$	332,955		$	132,735		$	269,071		$	401,806		$	66,210		$	316,991		$	383,201		$	7,560		$	371,127		$	378,687
Net pool allocation		—			—			—			—			—			—			—			3,700			3,700			—			1,058			1,058
Voyage expenses and commissions		(1,716		)	(2,841		)	(4,557		)	(1,656		)	(3,377		)	(5,033		)	(828		)	(6,678		)	(7,506		)	(95		)	(7,213		)	(7,308		)
Vessel operating costs		(22,207		)	(43,479		)	(65,686		)	(20,580		)	(55,692		)	(76,272		)	(12,245		)	(61,452		)	(73,697		)	(1,513		)	(75,229		)	(76,742		)
Depreciation		(28,067		)	(45,230		)	(73,297		)	(28,855		)	(58,193		)	(87,048		)	(14,433		)	(73,151		)	(87,584		)	(1,490		)	(87,819		)	(89,309		)
General and administrative expenses		(2,218		)	(11,219		)	(13,437		)	(1,850		)	(13,869		)	(15,719		)	(849		)	(18,905		)	(19,754		)	(96		)	(19,305		)	(19,401		)
Impairment loss on vessels		—			—			—			—			—			—			—			—			—			—			(138,848		)	(138,848		)
Profit from operations		72,323			103,655			175,978			79,794			137,940			217,734			37,855			160,505			198,360			4,366			43,771			48,137
Financial costs		(32,781		)	(30,187		)	(62,968		)	(25,877		)	(44,916		)	(70,793		)	(12,456		)	(60,258		)	(72,714		)	(1,730		)	(70,268		)	(71,998		)
Financial income		35			179			214			64			972			1,036			50			2,398			2,448			14			1,873			1,887
(Loss)/gain on derivatives		(10,460		)	3,623			(6,837		)	—			121			121			—			(48		)	(48		)	—			(12,795		)	(12,795		)
Total other expenses		(43,206		)	(26,385		)	(69,591		)	(25,813		)	(43,823		)	(69,636		)	(12,406		)	(57,908		)	(70,314		)	(1,716		)	(81,190		)	(82,906		)
Profit/(loss) for the year		$	29,117		$	77,270		$	106,387		$	53,981		94,117			148,098			$	25,449		102,597			128,046			$	2,650		(37,419		)	(34,769		)

 

 

 

 

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