The Board of Directors of Golden Ocean Group Limited (the "Company") has on 23 August 2011 decided to initiate a buy-back program of up to 45,000,000 shares.
The buy-back program will be initiated on 6 September 2011 and end on 31 December 2011.
The objective of the share buy-back program is to distribute the Company's equity capital to its shareholders in a manner more beneficial to the shareholders than through an ordinary dividend. The shares purchased under the program will be kept as treasury shares and may ultimately be cancelled.
The maximum amount to be paid per share is NOK 6.
September 5, 2010
The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda
For further information, please contact:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 41
Birgitte Ringstad Vartdal: CFO, Golden Ocean Management AS
+47 22 01 73 53
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Golden Ocean Group via Thomson Reuters ONE
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Golden Ocean Group via Thomson Reuters ONE
HUG#1544175