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Dato/tid 17.10.2017 08:30
Utsteder Golden Ocean Group Limited
UtstederID GOGL
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Marked OB
Kategori KAPITAL- OG STEMMERETTSENDRINGER
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Tittel GOGL - Equity offering successfully placed
Tekst


Golden Ocean Group Limited (NASDAQ and OSE: GOGL) ("Golden Ocean" or the
"Company") is pleased to announce that the equity offering (the "Offering") for
issue of new common shares (the "New Shares") announced on October 16, 2017 has
been successfully placed at USD 8.50 per New Share (equaling NOK 67.07 at a
USD/NOK exchange rate of 7.89), raising gross proceeds of approximately USD 66
million (approximately NOK 521 million) through the issuance of 7,764,705 New
Shares. The Offering was significantly over-subscribed with strong interest from
large institutional investors enabling a pricing equalling to market close on
NASDAQ on October 16, 2017.

Further, upon completion of the vessel purchase transaction announced on October
16, 2017, Hemen Holding Limited, a company indirectly controlled by trusts
established by Mr John Fredriksen for the benefit of his immediate family,
("Hemen") will receive 4,000,000 new common shares in the Company and as a
result own an aggregate of 49,326,353 shares in the Company, equaling
approximately 34.2 per cent of the Company's common shares and votes.
Notifications  of allocation of the  New Shares will be  distributed on or about
October  17, 2017. The New Shares  allocated in the  Offering are expected to be
delivered  against payment  on or  about October  19, 2017 and will  commence to
trade  under the Company's ordinary trading symbol  "GOGL" on NASDAQ on or about
October  17, 2017 and can be traded on the  Oslo Stock Exchange from on or about
October  19, 2017 (expected from  US markets  open) subject  to investors having
made necessary arrangements to transfer shares from the Depository Trust Company
in the US to the Norwegian Central Securities Depository (the VPS).

Following  issuance of the New Shares,  the Company will have 140,137,697 issued
common  shares, each having a  par value of USD  0.05. Following issuance of the
consideration  shares to  Hemen in  connection with  the acquisition  of the two
vessels  as announced  on October  16, 2017, the Company  will have 144,137,697
issued common shares each having a par value of USD 0.05.

This announcement does not constitute an offer to sell or the solicitation of an
offer  to buy securities and shall not constitute an offer, solicitation or sale
in  any jurisdiction in which such offer,  solicitation or sale is unlawful. The
Offering  is being made only by means  of an application agreement, a term sheet
and  a  prospectus  supplement  and  accompanying  base prospectus. A prospectus
supplement  related to the offering has been  filed with the U.S. Securities and
Exchange Commission (the "SEC") and is available on the SEC's website located at
www.sec.gov.   Copies  of  the  prospectus  supplement and the accompanying base
prospectus  relating to the Offering may be obtained from contacting DNB Markets
Inc. at 200 Park Ave, Floor 31, New York, NY 10166, telephone: +1 212 681 3800.
The  Offering will be made pursuant to the Company's existing shelf registration
statement  on Form  F-3 (Registration No.  333-211365) previously filed with the
SEC and declared effective.

The Board of Directors
Golden Ocean Group Limited

Contact Persons:
Birgitte Ringstad Vartdal, CEO, Golden Ocean Management AS
+47 22 01 73 53

Per Heiberg, CFO, Golden Ocean Management AS
+47 22 01 73 45

Forward-Looking Statements

Matters   discussed   in  this  press  release  may  constitute  forward-looking
statements.  The Private Securities Litigation  Reform Act of 1995 provides safe
harbor  protections  for  forward-looking  statements,  which include statements
concerning  plans, objectives, goals, strategies,  future events or performance,
and underlying assumptions and other statements, which are other than statements
of   historical   facts.  Words  such  as  "believe",  "anticipate",  "intends",
"estimate",   "forecast",   "project",  "plan",  "potential",  "may",  "should",
"expect", "pending" and similar expressions identify forward-looking statements.

The  forward-looking statements  in this  press release  are based  upon various
assumptions.   Although we believe  that these assumptions  were reasonable when
made,   because   these   assumptions  are  inherently  subject  to  significant
uncertainties and contingencies which are difficult or impossible to predict and
are  beyond our control, we cannot assure you that we will achieve or accomplish
these  expectations, beliefs  or projections.  The information  set forth herein
speaks  only as of the date hereof,  and we disclaim any intention or obligation
to  update any forward-looking statements as  a result of developments occurring
after the date of this communication.

In  addition to these important factors  and matters discussed elsewhere herein,
important  factors  that,  in  our  view,  could  cause actual results to differ
materially  from those discussed  in the forward-looking  statements include the
strength  of  world  economies,  fluctuations  in currencies and interest rates,
general  market  conditions,  including  fluctuations  in charter hire rates and
vessel  values,  changes  in  demand  in  the  dry  bulk  market, changes in our
operating expenses, including bunker prices, drydocking and insurance costs, the
market  for our  vessels, availability of  financing and refinancing, changes in
governmental  rules and regulations or  actions taken by regulatory authorities,
potential  liability  from  pending  or  future litigation, general domestic and
international  political conditions, potential disruption of shipping routes due
to  accidents,  political  events  or  acts  by  terrorists, and other important
factors described from time to time in the reports filed by the Company with the
Securities and Exchange Commission.

This  information is subject  to the disclosure  requirements of section 5-12 of
the Norwegian Securities Trading Act.





 
    

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