GOGL - Update on Merger with CMB.TECH and Change of VPS Registrar
Golden Ocean Group (NASDAQ: GOGL) has provided an update on its pending merger with CMB.TECH NV (NYSE: CMBT). The merger is expected to complete around August 20, 2025, following Golden Ocean's Special General Meeting on August 19, 2025.
The company announced a change in its VPS registrar from Nordea to DNB Carnegie to facilitate the merger closing. As part of this transition, there will be a conversion stop period from August 4 to August 20, 2025, during which shareholders cannot convert or transfer shares between Euronext Oslo Børs and Nasdaq. Trading of new CMB.TECH merger consideration shares is expected to begin on NYSE, Euronext Brussels, and Euronext Oslo Børs on August 20, 2025.
Golden Ocean Group (NASDAQ: GOGL) ha fornito un aggiornamento sulla sua fusione in corso con CMB.TECH NV (NYSE: CMBT). La fusione è prevista per completarsi intorno al 20 agosto 2025, dopo l'Assemblea Speciale di Golden Ocean del 19 agosto 2025.
La società ha annunciato il cambio del suo registrar VPS da Nordea a DNB Carnegie per facilitare la chiusura della fusione. Come parte di questa transizione, ci sarà un periodo di blocco per la conversione dal 4 al 20 agosto 2025, durante il quale gli azionisti non potranno convertire o trasferire azioni tra Euronext Oslo Børs e Nasdaq. Il trading delle nuove azioni di fusione CMB.TECH è previsto iniziare su NYSE, Euronext Bruxelles e Euronext Oslo Børs il 20 agosto 2025.
Golden Ocean Group (NASDAQ: GOGL) ha proporcionado una actualización sobre su fusión pendiente con CMB.TECH NV (NYSE: CMBT). Se espera que la fusión se complete alrededor del 20 de agosto de 2025, tras la Junta General Especial de Golden Ocean el 19 de agosto de 2025.
La compañía anunció un cambio en su registrador VPS de Nordea a DNB Carnegie para facilitar el cierre de la fusión. Como parte de esta transición, habrá un período de detención de conversión del 4 al 20 de agosto de 2025, durante el cual los accionistas no podrán convertir ni transferir acciones entre Euronext Oslo Børs y Nasdaq. Se espera que la negociación de las nuevas acciones de consideración de la fusión CMB.TECH comience en NYSE, Euronext Bruselas y Euronext Oslo Børs el 20 de agosto de 2025.
Golden Ocean Group (NASDAQ: GOGL)는 CMB.TECH NV (NYSE: CMBT)와의 진행 중인 합병에 대한 업데이트를 제공했습니다. 합병은 2025년 8월 19일 Golden Ocean의 특별 총회 이후인 2025년 8월 20일경 완료될 예정입니다.
회사는 합병 마감을 원활히 하기 위해 VPS 등록기관을 Nordea에서 DNB Carnegie로 변경한다고 발표했습니다. 이 전환의 일환으로 2025년 8월 4일부터 8월 20일까지 변환 중단 기간이 있으며, 이 기간 동안 주주들은 Euronext Oslo Børs와 Nasdaq 간 주식 변환 또는 이전이 불가능합니다. 새로운 CMB.TECH 합병 보상 주식 거래는 2025년 8월 20일 NYSE, Euronext Brussels, Euronext Oslo Børs에서 시작될 예정입니다.
Golden Ocean Group (NASDAQ : GOGL) a fourni une mise à jour concernant sa fusion en cours avec CMB.TECH NV (NYSE : CMBT). La fusion devrait être finalisée aux alentours du 20 août 2025, suite à l'Assemblée Générale Spéciale de Golden Ocean le 19 août 2025.
L'entreprise a annoncé un changement de son registraire VPS, passant de Nordea à DNB Carnegie, afin de faciliter la clôture de la fusion. Dans le cadre de cette transition, une période de suspension des conversions du 4 au 20 août 2025 sera mise en place, durant laquelle les actionnaires ne pourront ni convertir ni transférer des actions entre Euronext Oslo Børs et Nasdaq. La négociation des nouvelles actions de contrepartie de la fusion CMB.TECH devrait débuter le 20 août 2025 sur le NYSE, Euronext Bruxelles et Euronext Oslo Børs.
Golden Ocean Group (NASDAQ: GOGL) hat ein Update zu seiner bevorstehenden Fusion mit CMB.TECH NV (NYSE: CMBT) veröffentlicht. Die Fusion soll voraussichtlich um den 20. August 2025 abgeschlossen werden, nach der Sonderhauptversammlung von Golden Ocean am 19. August 2025.
Das Unternehmen gab bekannt, dass der VPS-Registrar von Nordea zu DNB Carnegie gewechselt wird, um den Abschluss der Fusion zu erleichtern. Im Rahmen dieses Übergangs wird es eine Umwandlungssperrfrist vom 4. bis 20. August 2025 geben, während der Aktionäre keine Aktien zwischen Euronext Oslo Børs und Nasdaq umwandeln oder übertragen können. Der Handel mit den neuen CMB.TECH-Fusionsaktien soll am 20. August 2025 an der NYSE, Euronext Brüssel und Euronext Oslo Børs beginnen.
- Merger completion timeline is clearly defined with expected closing on August 20, 2025
- Shareholders will receive new CMB.TECH shares on their respective trading venues (NYSE or Euronext Oslo Børs)
- CMB.TECH shares will have expanded market presence across NYSE, Euronext Brussels, and Euronext Oslo Børs
- Temporary trading restriction during conversion stop period (August 4-20, 2025) affecting share transfers between exchanges
- Additional two-day trading restriction for CMB.TECH shares after merger completion
Insights
Golden Ocean's merger with CMB.TECH advances with expected August 20 completion date; temporary share conversion freeze announced.
Golden Ocean Group Limited has provided key operational updates regarding its planned merger with CMB.TECH. The companies expect to complete the merger around August 20, 2025, following Golden Ocean's Special General Meeting scheduled for August 19. This timeline aligns with the first anticipated trading day for newly issued CMB.TECH shares across multiple exchanges.
The announcement outlines important technical details affecting shareholders during the transition. Golden Ocean is changing its registrar in Euronext Securities Oslo from Nordea to DNB Carnegie to facilitate the merger closing. This change necessitates a temporary freeze on share conversions between Euronext Oslo Børs and Nasdaq, expected to last from August 4 until approximately August 22, 2025.
For shareholders, the distribution mechanism is geography-specific: Golden Ocean shareholders with shares trading on Nasdaq will receive new CMB.TECH ordinary shares that trade on NYSE, while those with shares on Euronext Oslo Børs will receive shares expected to trade on Euronext Oslo Børs.
This announcement primarily addresses administrative procedures rather than revealing new strategic information about the merger itself. The temporary conversion restriction represents a standard procedural step to ensure proper accounting and distribution of new shares following the merger completion. The merger remains subject to shareholder approval at the upcoming Special General Meeting and other closing conditions.
Hamilton, Bermuda, 28 July, 2025 – Reference is made to the stock exchange announcement made by Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) ("Golden Ocean") and CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) ("CMB.TECH") on 28 May 2025, where a merger between Golden Ocean and CMB.TECH was announced (the "Merger").
Assuming timely fulfillment of the relevant closing conditions, the parties aim to complete the Merger as soon as possible after the Golden Ocean Special General Meeting scheduled for 19 August 2025, currently expected on or around 20 August 2025, which will also be the first day of trading for the newly issued CMB.TECH Merger consideration shares on NYSE, Euronext Brussels and, tentatively, the first day of trading of CMB.TECH on Euronext Oslo Børs.
It is envisaged that Golden Ocean shareholders owning Golden Ocean common shares that trade on Nasdaq shall receive their portion of the new CMB.TECH ordinary shares that trade on NYSE, and Golden Ocean shareholders owning Golden Ocean common shares that trade on Euronext Oslo Børs shall receive their portion of the new CMB.TECH ordinary shares that are expected to trade on Euronext Oslo Børs.
In order to facilitate for the closing of the Merger, Golden Ocean has decided to change its registrar in Euronext Securities Oslo ("VPS") from Nordea Trading & Custody Services, a part of Nordea Bank Abp, filial i Norge ("Nordea"), to DNB Carnegie, a part of DNB Bank ASA ("DNB").
As part of this transition, the full holding of Golden Ocean shares currently registered with Nordea in Euroclear will be transferred to DNB via Clearstream.
In connection with the change of VPS registrar as well as to facilitate timely delivery and settlement of the Merger consideration shares to Golden Ocean shareholders with their shares trading on Euronext Oslo Børs, through the VPS, there will be a conversion stop in the VPS system. During this period, Golden Ocean shareholders will not be able to convert or transfer their Golden Ocean shares between Euronext Oslo Børs (VPS) and Nasdaq (DTC). Nordea is expected to halt conversion services approximately two (2) business days prior to the transfer to DNB and until the Merger has been completed, while DNB aims to resume conversion services for the CMB.TECH shares approximately two (2) business days after the CMB.TECH shares have begun trading on Euronext Oslo Børs. As a result, the conversion stop for the Golden Ocean shares is expected to occur on or about 4 August until the closing date of the Merger expected to be on or about 20 August 2025, and continuing for the CMB.TECH shares for approximately two (2) business days thereafter, depending on the timing of the registrar change and fulfilment of the relevant Merger closing conditions.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
FAQ
When will the Golden Ocean (GOGL) and CMB.TECH merger be completed?
What happens to GOGL shares after the merger with CMB.TECH?
What is the conversion stop period for GOGL shares during the merger?
Why is Golden Ocean changing its VPS registrar from Nordea to DNB?
When will CMB.TECH shares begin trading on the different exchanges?
