Du är här

2016-02-19

Golden Ocean Group Limited: GOGL - Subsequent Offering

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, CANADA, AUSTRALIA OR
JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD
BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED
HEREIN.

Reference is made to the previous stock exchange releases of Golden Ocean
Group Limited (the "Company") regarding the fully subscribed private
placement of 343,684,000 new shares in the Company and the decision to carry
out a subsequent offering (the "Subsequent Offering") of up to 34,368,400 new
shares in the Company (the "Offer Shares") for gross proceeds of up to NOK
171,842,000 (approximately USD 20 million) (equal to up to 10% of the size of
the Private Placement).

The Subsequent Offering will, on the basis of a prospectus (the "Prospectus")
to be approved by the Norwegian Financial Supervisory Authority, be directed
towards shareholders who (i) are holding less than 100,000 shares as of
February 18, 2016, as registered with the Norwegian Central Securities
Depository (Nw: Verdipapirsentralen or the "VPS") as of expiry of February
22, 2016, (ii) are not allocated shares in the Private Placement, and (iii)
are not resident in a jurisdiction where such offering would be unlawful or,
for jurisdictions other than Norway, would require any prospectus, filing,
registration or similar action (the "Eligible Shareholders"). Such Eligible
Shareholders will be granted non-tradable subscription rights giving right to
subscribe and be allocated Offer Shares.

The subscription price in the Subsequent Offering is NOK 5.00 per Offer Share,
being the same as the subscription price in the Private Placement. The
subscription period in the Subsequent Offering will commence shortly after
publication of the Prospectus (publication of the Prospectus expected on or
about February 23, 2016).

The following key information is given with respect to the Subsequent
Offering:

Date of announcement of the Subsequent Offering: February 19, 2016

Last day including right: February 18, 2016

Ex-date: February 19, 2016

Record date: February 22, 2016

Date of approval: The Subsequent Offering is subject to shareholder approval
of an increase in the Company's authorised share capital. The Company will
distribute a proposed written resolution to increase the Company's authorised
share capital to its shareholders on or about February 22, 2016. The record
date for voting on the proposed written resolution is set to February 17,
2016. Approval is expected to be obtained during the week starting February
22, 2016.

Maximum number of Offer Shares: 34,368,400

Subscription price per Offer Share: NOK 5.00

Danske Bank, DNB Markets, part of DNB Bank ASA, Arctic Securities AS,
Clarksons Platou Securities AS and Nordea Markets, part of Nordea Bank Norge
ASA are acting as Managers of the Subsequent Offering.

February 19, 2016

Hamilton, Bermuda

Golden Ocean Group Limited

***

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides
safe harbor protections for forward-looking statements, which include
statements concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements, which are other
than statements of historical facts. Words such as "believe," "anticipate,"
"intends," "estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" and similar expressions identify
forward-looking statements.

The forward-looking statements in this press release are based upon various
assumptions. Although we believe that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict
and are beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. The information set
forth herein speaks only as of the date hereof, and we disclaim any intention
or obligation to update any forward-looking statements as a result of
developments occurring after the date of this communication.

In addition to these important factors and matters discussed elsewhere herein,
important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies, fluctuations in currencies and interest rates,
general market conditions, including fluctuations in charter hire rates and
vessel values, changes in demand in the dry bulk market, changes in our
operating expenses, including bunker prices, drydocking and insurance costs,
the market for our vessels, availability of financing and refinancing,
changes in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption of
shipping routes due to accidents, political events or acts by terrorists, and
other important factors described from time to time in the reports filed by
the Company with the Securities and Exchange Commission.

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

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Golden Ocean Group Limited via Globenewswire

HUG#1987623

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.