Golden Ocean Group Ltd Stock Price, News & Analysis

On 1 March 2021, Golden Ocean Group Limited (NASDAQ: GOGL) announced the completion of a private placement of new shares. The Company’s share capital has risen to USD 9,924,012.20, comprising 198,480,244 issued shares at a nominal value of USD 0.05 per share. The newly issued shares are registered under a separate ISIN and will remain unlisted and non-tradable on the Oslo Stock Exchange until a listing prospectus is approved by the Financial Supervisory Authority of Norway.

Golden Ocean Group Limited has announced the presentation of its fourth quarter 2020 results, set for today at 15:00 CET, available via webcast and conference call. Key details include international dial-in numbers and a confirmation code for the conference. The presentation material can be downloaded from their website, and a replay will be accessible post-event. This announcement complies with the disclosure requirements of the Norwegian Securities Trading Act, indicating the company’s commitment to transparency in financial reporting.

Golden Ocean Group Limited (NASDAQ: GOGL) reported its fourth quarter 2020 results, showing a net income of $25.4 million and earnings per share of $0.18, down from $39.1 million and $0.27 in Q3. Adjusted EBITDA was $59.3 million, down from $76.7 million. The company signed the Neptune Declaration on seafarer wellbeing and sold two vessels for a total of $18 million. A significant acquisition of 18 modern dry bulk vessels was announced for $752 million. TCE rates are projected lower in Q1 2021 due to market conditions.

Golden Ocean Group has successfully completed a private placement of new shares, raising capital at a subscription price of NOK 53.00 per share. A maximum of 2,710,377 new shares will be offered, pending approval from an extraordinary general meeting scheduled for March 26, 2021. The subsequent offering is conditional on the completion of the private placement and market conditions. The record date for subscribing to the new shares is February 19, 2021. This announcement fulfills the Oslo Stock Exchange's continuing obligations.

Golden Ocean Group announced a successful Private Placement on 17 February 2021, raising approximately USD 338 million by issuing 54,207,547 new shares at NOK 53.00 each. The placement was oversubscribed, with major shareholder Hemen Holding allocated 27,103,773 shares, maintaining a 39.07% stake. The company plans a subsequent offering of up to 2,710,377 shares for existing shareholders, raising an additional NOK 143.6 million. This offering is contingent on shareholder approval and regulatory conditions. Full settlement of the new shares is scheduled for 22 February 2021.

Golden Ocean Group Limited (NASDAQ and OSE: GOGL) is planning to acquire 18 modern dry bulk vessels for approximately USD 752 million from affiliates of its largest shareholder, Hemen Holding Limited. This acquisition includes 10 Newcastlemaxes and 8 Kamsarmaxes, expected to enhance fleet scale and reduce cash breakeven levels. A private placement is also in the works to raise USD 338 million, with Hemen committing to subscribe for 50%. The Q4 2020 financial results reported a net income of $25.4 million and adjusted EBITDA of $59.3 million, down from the previous quarter.

Golden Ocean will announce its fourth quarter 2020 results on February 18, 2021, at 03:00 P.M. CET (09:00 A.M. New York Time). A teleconference/webcast will follow, available for participation through a provided link or dial-in numbers.

To access the conference, participants must provide their full name and the Conference ID: 7692357. A presentation will be downloadable prior to the event from the Investor Relations section of www.goldenocean.bm.

Replay of the call will be available for 7 days using the same access number.

Golden Ocean Group Limited (NASDAQ and OSE: GOGL) announced that Chief Commercial Officer Thomas Semino will step down. Based in Singapore, Semino will assist with the transition of his responsibilities during this period. CEO Ulrik Andersen expressed gratitude for Semino's contributions over four years. Recruitment for his replacement has begun, but the commercial department remains adequately staffed to ensure smooth chartering operations. Golden Ocean is a prominent dry bulk shipping company with 78 vessels, known for its Capesize and ice class Panamax fleet.

Golden Ocean Group Limited announced the grant of 275,000 share options to newly appointed CFO, Mr. Peder Simonsen. The options have a five-year term expiring on September 4, 2025, and will vest over three years. Specifically, 75,000 options will vest on September 4, 2021, with an exercise price of NOK 32; 75,000 will vest on September 4, 2022, at NOK 48; and 125,000 will vest on September 4, 2023, at NOK 64. The exercise price is subject to adjustment for any dividends prior to the exercise of the options.