GOGL - Transactions made under the buy-back program

Rhea-AI Summary

Golden Ocean Group (GOGL) has continued its share buy-back program, purchasing 545,000 of its own common stocks between December 11-17, 2024. The company acquired 420,000 shares on the Oslo Stock Exchange at an average price of NOK 101.62 per share and 125,000 shares on Nasdaq at an average price of USD 9.21 per share. Following these transactions, GOGL now owns 1,707,328 of its own shares, representing 0.85% of the company's share capital. This is part of the previously announced USD 100 million buy-back program launched on October 2, 2024, which allows for purchasing up to 10,000,000 common shares over a 12-month period.

Positive

• Ongoing execution of USD 100 million share buyback program demonstrates financial strength
• Company has acquired 1,707,328 shares (0.85% of share capital) showing commitment to returning value to shareholders

Negative

• None.

Insights

Financial Analyst

The latest share buyback activity from Golden Ocean Group shows strong execution of their $100 million program, with 545,000 shares purchased across dual listings. The average purchase price of NOK 101.62 in Oslo and $9.21 on Nasdaq indicates strategic timing in both markets. With total ownership now at 0.85% of share capital, this demonstrates management's confidence in the company's value and commitment to returning capital to shareholders. The consistent implementation of the buyback program, announced in October, suggests a disciplined approach to capital allocation. This type of share repurchase typically provides price support and can enhance shareholder value through reduced float and improved earnings per share metrics.

Reference is made to the stock announcement on October 2, 2024, where Golden Ocean Group Limited (OSE/NASDAQ: GOGL) announced the renewal of its share buy-back program of maximum USD 100 million to purchase up to an aggregate of 10,000,000 of the company's common shares in a 12 months period from the announcement.

Golden Ocean Group Limited (“GOGL” or the “Company”) announces that the Company has between December 11, 2024 and December 17, 2024, purchased 545,000 of the Company’s own common stocks. 420,000 of the shares have been bought on the Oslo Stock Exchange at an average price of NOK 101.62 per share and 125,000 of the shares have been bought on Nasdaq at an average price of USD 9.21 per share. Following the completion of the above transactions, GOGL owns a total of 1,707,328 of own shares, corresponding to 0.85% of the Company’s share capital.

An overview of all transactions made under the buy-back program that have been carried out during the above-mentioned date is attached to this report and available at www.newsweb.no.

December 18, 2024
Hamilton, Bermuda

For more info please contact:

Peder Simonsen, Interim Chief Executive Officer and Chief Financial Officer of Golden Ocean Management AS.
Telephone +47 23 11 40 00

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

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

 

Attachments

• GOGL buyback Dec 11 Nasdaq
• GOGL buyback Dec 12 Oslo Stock Exchange
• GOGL buyback Dec 11 Oslo Stock Exchange
• GOGL buyback Dec 13 Oslo Stock Exchange
• GOGL buyback Dec 16 Oslo Stock Exchange
• GOGL buyback Dec 17 Oslo Stock Exchange
• Week 50 overview

FAQ

How many shares did GOGL buy back between December 11-17, 2024?

GOGL purchased 545,000 shares in total: 420,000 shares on the Oslo Stock Exchange and 125,000 shares on Nasdaq.

What is the average price GOGL paid for shares in its recent buyback?

GOGL paid an average of NOK 101.62 per share on the Oslo Stock Exchange and USD 9.21 per share on Nasdaq.

What is the total size of GOGL's current share buyback program?

GOGL's current buyback program has a maximum value of USD 100 million to purchase up to 10,000,000 common shares over 12 months.

How many shares does GOGL own after its recent buyback transactions?

After the recent transactions, GOGL owns 1,707,328 of its own shares, representing 0.85% of the company's share capital.

When did GOGL announce its current share buyback program?

GOGL announced the renewal of its share buyback program on October 2, 2024.