Latest news with #PederSimonsen
Yahoo
23-04-2025
- Business
- Yahoo
Golden Ocean, CMB.TECH announce merger plan
Golden Ocean Group and have signed a term sheet regarding a proposed stock-for-stock merger, with designated the surviving entity. The terms have been unanimously endorsed by the board of directors of Golden Ocean, including its special transaction committee, as well as by the supervisory board of This does not mean the merger itself is yet agreed. "The merger remains subject to customary conditions, including confirmatory due diligence, negotiation and execution of definitive transaction agreements, applicable board approvals, regulatory approvals, third-party consents, Golden Ocean shareholder approval, and effectiveness of a registration statement on Form F-4 to be filed by with the U.S. Securities and Exchange Commission ('SEC')," according to Golden Ocean's statement. must file a registration statement on Form F-4 with the US Securities and Exchange Commission. The merger is anticipated to form one of the largest diversified maritime groups with a market capitalisation of $3.2bn and a combined fleet exceeding 250 vessels. The term sheet stipulates an exchange ratio of 0.95 shares of for each share of Golden Ocean, subject to standard adjustments. The merger would see Golden Ocean integrated into Bermuda, a wholly-owned subsidiary of CEO Alexander Saverys said: 'By merging and Golden Ocean, we would take another great step forward in building our leading diversified maritime group. Our fleet would grow to more than 250 modern vessels spread over five shipping divisions.' Post-merger, approximately 95.9 million new shares of are expected to be issued, resulting in shareholders owning about 70% of the merged entity, while Golden Ocean shareholders will retain approximately 30%, assuming no changes to the exchange ratio. Upon completion of the merger, Golden Ocean would be removed from NASDAQ and Euronext Oslo Bors, while will maintain its listings on the New York Stock Exchange and Euronext Brussels, with intentions for a secondary listing on Euronext Oslo Børs following the merger. The parties aim to conclude definitive transaction agreements in the second quarter of 2025, with the merger expected to be finalised in the third quarter of 2025. Golden Ocean CEO Peder Simonsen said: 'The proposed merger with gives Golden Ocean a great opportunity to be part of a large diversified maritime group. 'Our fleet and dry bulk vessels are very complementary and would create one of the largest and most modern dry bulk fleets in the world, including 87 modern Capesize and Newcastlemax vessels, with a favourable long-term outlook.' Last month, and Mitsui O.S.K. Lines (MOL) agreed to jointly own and charter nine ammonia-powered vessels from 2026 to 2029, including three dual-fuel Newcastlemax bulk carriers and six chemical tankers. "Golden Ocean, announce merger plan" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-04-2025
- Business
- Yahoo
Golden Ocean, CMB.TECH announce merger plan
Golden Ocean Group and have signed a term sheet regarding a proposed stock-for-stock merger, with designated the surviving entity. The terms have been unanimously endorsed by the board of directors of Golden Ocean, including its special transaction committee, as well as by the supervisory board of This does not mean the merger itself is yet agreed. "The merger remains subject to customary conditions, including confirmatory due diligence, negotiation and execution of definitive transaction agreements, applicable board approvals, regulatory approvals, third-party consents, Golden Ocean shareholder approval, and effectiveness of a registration statement on Form F-4 to be filed by with the U.S. Securities and Exchange Commission ('SEC')," according to Golden Ocean's statement. must file a registration statement on Form F-4 with the US Securities and Exchange Commission. The merger is anticipated to form one of the largest diversified maritime groups with a market capitalisation of $3.2bn and a combined fleet exceeding 250 vessels. The term sheet stipulates an exchange ratio of 0.95 shares of for each share of Golden Ocean, subject to standard adjustments. The merger would see Golden Ocean integrated into Bermuda, a wholly-owned subsidiary of CEO Alexander Saverys said: 'By merging and Golden Ocean, we would take another great step forward in building our leading diversified maritime group. Our fleet would grow to more than 250 modern vessels spread over five shipping divisions.' Post-merger, approximately 95.9 million new shares of are expected to be issued, resulting in shareholders owning about 70% of the merged entity, while Golden Ocean shareholders will retain approximately 30%, assuming no changes to the exchange ratio. Upon completion of the merger, Golden Ocean would be removed from NASDAQ and Euronext Oslo Bors, while will maintain its listings on the New York Stock Exchange and Euronext Brussels, with intentions for a secondary listing on Euronext Oslo Børs following the merger. The parties aim to conclude definitive transaction agreements in the second quarter of 2025, with the merger expected to be finalised in the third quarter of 2025. Golden Ocean CEO Peder Simonsen said: 'The proposed merger with gives Golden Ocean a great opportunity to be part of a large diversified maritime group. 'Our fleet and dry bulk vessels are very complementary and would create one of the largest and most modern dry bulk fleets in the world, including 87 modern Capesize and Newcastlemax vessels, with a favourable long-term outlook.' Last month, and Mitsui O.S.K. Lines (MOL) agreed to jointly own and charter nine ammonia-powered vessels from 2026 to 2029, including three dual-fuel Newcastlemax bulk carriers and six chemical tankers. "Golden Ocean, announce merger plan" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
20-03-2025
- Business
- Associated Press
GOGL - Filing of 2024 Annual Report on Form 20-F
Golden Ocean Group Limited (NASDAQ and OSE: GOGL) (the 'Company') announces that its annual report on Form 20-F for the year ended December 31, 2024 (the 'Annual Report') has been filed with the U.S. Securities and Exchange Commission (the 'Commission'). The Annual Report may be accessed through the Company's website, or in the link below. The Annual Report is also available on the website of the Commission, Shareholders may also request a hard copy of the Annual Report, which includes the Company's complete 2024 audited financial statements, by contacting the Investor Relations department. Golden Ocean Group Limited Hamilton, Bermuda March 20, 2025 Contact Person: Peder Simonsen: Interim Chief Executive Officer and Chief Financial Officer, Golden Ocean Management AS +47 22 01 73 40
