GOGL - Results of the Special General Meeting

Rhea-AI Summary

Golden Ocean Group Limited (NASDAQ: GOGL) shareholders have approved all resolutions at a Special General Meeting held on August 19, 2025, including the significant stock-for-stock merger with CMB.TECH Bermuda Ltd., a subsidiary of CMB.TECH NV (NYSE: CMBT).

Under the merger terms, each Golden Ocean share will be exchanged for 0.95 CMB.TECH ordinary shares. The merger will result in CMB.TECH Bermuda Ltd. becoming the surviving company, with CMB.TECH NV issuing the merger consideration shares.

Positive

• None.

Negative

• GOGL shareholders will lose direct exposure to pure-play shipping operations
• Existing GOGL shares will be delisted post-merger

HAMILTON, Bermuda, 19 August 2025 – Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) ("Golden Ocean") advises that a Special General Meeting ("SGM") of the shareholders of Golden Ocean was held today, 19 August 2025, at 09:00 (local time) at Hamilton Princess and Beach Club, 76 Pitts Bay Road, Hamilton HM 08. 

All resolutions set out in the notice of the SGM were approved by the shareholders, meaning that, among other things, the stock-for-stock merger of Golden Ocean with and into CMB.TECH Bermuda Ltd., a wholly-owned subsidiary of CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) ("CMB.TECH") with CMB.TECH Bermuda Ltd. as the surviving company, and with CMB.TECH as the issuer of the merger consideration shares (the "Merger"), has been approved.

Pursuant to the terms of the Merger, each outstanding common share of Golden Ocean will be cancelled and exchanged for newly issued CMB.TECH ordinary shares at an exchange ratio of 0.95 ordinary shares of CMB.TECH for each common share of Golden Ocean.

For further settlement details and key dates for the Merger, please refer to Golden Ocean's stock exchange announcement of 18 August 2025.

The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda
19 August, 2025 

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

 

FAQ

What is the exchange ratio for the Golden Ocean (GOGL) and CMB.TECH merger?

Shareholders will receive 0.95 CMB.TECH ordinary shares for each Golden Ocean (GOGL) share they own.

When was the Golden Ocean (GOGL) merger with CMB.TECH approved?

The merger was approved at a Special General Meeting held on August 19, 2025.

What happens to Golden Ocean (GOGL) shares after the merger with CMB.TECH?

GOGL shares will be cancelled and exchanged for newly issued CMB.TECH ordinary shares at the specified exchange ratio.

Which company will be the surviving entity in the GOGL-CMB.TECH merger?

CMB.TECH Bermuda Ltd. will be the surviving company, with CMB.TECH NV as the issuer of the merger consideration shares.

Where can investors find settlement details for the Golden Ocean merger?

Settlement details and key dates can be found in Golden Ocean's stock exchange announcement dated August 18, 2025.