Golden Ocean Group Ltd - GOGL STOCK NEWS

Golden Ocean Group (GOGL) has announced its upcoming 2025 Annual General Meeting, scheduled for May 8, 2025. The company has made available the Notice of Annual General Meeting documentation along with the Company's Consolidated Financial Statements on Form 20-F for 2024 on their website at www.goldenocean.bm. The announcement was made on April 10, 2025, and complies with the disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act.

Golden Ocean Group (GOGL) has announced key executive appointments, with Mr. Peder Simonsen being promoted from his current interim position to permanent Chief Executive Officer of Golden Ocean Management AS. Additionally, Ms. Randi Navdal Bekkelund has been appointed as the new Chief Financial Officer, transitioning from her current role as CFO of Avance Gas Holding Ms. Bekkelund will assume her new position on June 1, 2025.

Golden Ocean Group (NASDAQ and OSE: GOGL) has announced its upcoming 2025 Annual General Meeting scheduled for May 8, 2025. The company has set April 7, 2025 as the record date for voting eligibility. Shareholders can expect the Notice of Annual General Meeting, along with associated information including the Company's Annual Report on Form 20-F, to be distributed and made available on the company's website at www.goldenocean.bm before the meeting.

Golden Ocean Group (GOGL) has announced significant changes to its Board of Directors with the appointment of two new members. Carl Erik Steen, who brings extensive shipping and banking experience from his leadership roles at Nordea bank and Christiania Bank, joins the board. He currently serves as Chairman of Wilhelm Wilhelmsen Holding ASA and holds directorships in companies including Golar LNG and Himalaya Shipping

James Ayers, who has been GOGL's Secretary since 2018, has also been appointed as Director. Ayers currently serves as CEO of Front Ocean Management since 2021 and previously headed Corporate Administration at Frontline He holds director positions in Oslo-listed companies Paratus Energy Services and Northern Ocean , bringing significant maritime and offshore energy sector expertise.

Golden Ocean Group (GOGL) has announced significant changes to its Board of Directors. The company has appointed Mr. Patrick De Brabandere and Mr. Patrick Molis as new Directors, both bringing extensive maritime and financial industry experience.

Simultaneously, four directors have stepped down: Mr. Ola Lorentzon, Mr. John Fredriksen, Mr. Ben Mills, and Mr. Cato Stonex. The newly composed Board, now consisting of James O'Shaughnessy, Tonesan Amissah, and the two new appointees, plans to initiate discussions with CMB.TECH, GOGL's new reference shareholder.

The Board will explore potential strategic options, including commercial cooperation, operational and technical partnerships, and other business combinations. Importantly, the company has confirmed its intention to maintain its current dividend policy until further notice.

Golden Ocean Group (NASDAQ and OSE: GOGL) has announced the filing of its 2024 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission. The annual report, which includes the company's complete 2024 audited financial statements, is now accessible through multiple channels:

• Company website: www.goldenocean.bm
• SEC website: www.sec.gov

Shareholders can request hard copies of the Annual Report by contacting the Investor Relations department. The announcement was made on March 20, 2025, by Peder Simonsen, who serves as both Interim Chief Executive Officer and Chief Financial Officer of Golden Ocean Management AS.

Hemen Holding has announced the sale of its entire 40.8% stake in Golden Ocean Group (NASDAQ/OSE: GOGL) to CMB.TECH (NYSE: CMBT & Euronext: CMBT) for approximately USD 1,179 million. The transaction involves 81,363,730 shares and is expected to complete on March 12, 2025.

Golden Ocean has evolved significantly since its 2004 spin-off from Frontline, expanding from 3 to 91 vessels to become one of the largest listed owners of large-size modern drybulk vessels. The company has distributed approximately USD 2 billion in dividends since 2004.

The transaction will not trigger a mandatory takeover bid and is exempt from U.S. Securities Act registration requirements.

CMB.TECH has announced the acquisition of a significant stake in Golden Ocean Group through its wholly-owned subsidiary. The transaction involves purchasing 81,363,730 shares from Hemen Holding at $14.49 per share, representing approximately 40.4% of Golden Ocean's issued share capital.

The acquisition aligns with CMB.TECH's strategic diversification objectives, with the company aiming to become a long-term shareholder in Golden Ocean and invest in a modern dry bulk fleet. The transaction completion is expected on March 12, 2025, with no conditions attached.

CMB.TECH has already identified a bank syndicate to refinance Golden Ocean's current outstanding debt if needed. The transaction will not trigger a mandatory takeover bid in any jurisdiction. Alexander Saverys, CEO of CMB.TECH, expressed commitment to building on Golden Ocean's legacy for long-term growth and innovation.

Golden Ocean Group has announced its fourth quarter 2024 financial results presentation, which will be delivered via a webcast and conference call at 15:00 CET.

The company will host a Q&A session following the presentation, with instructions for submitting questions to be provided at the start of the session. Participants can join through either a webcast link or conference call, with pre-registration required for the latter. The presentation materials will be available for download on the company's website, where replay access will also be provided.