SOURCE: Golden Ocean Group

December 11, 2009 02:43 ET

GOGL - Mandatory Notification of Trade

HAMILTON, BERMUDA--(Marketwire - December 11, 2009) -


Hemen Holding Limited, a company indirectly controlled by trusts affiliated with John Fredriksen and his family, has settled a TRS agreement (Total Return Swap) underlying 1,423,001 shares in Golden Ocean Group Limited ("Golden Ocean") expiring Decemer 10, 2009. Hemen Holding Limited has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is March 10, 2010, and the new TRS price is NOK 10,3373 per share. Hemen Holding Limited's affiliated ownership in Golden Ocean Group Limited is not influenced by the TRS agreements. Drew Investment, a company controlled by Tor Olav Trøim, has settled a TRS agreement underlying 800,000 shares in Golden Ocean expiring December 10, 2009. Drew Investment has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is March 10, 2010, and the new TRS price is NOK 10,3373 per share. Drew Investment and Tor Olav Trøims ownership in Golden Ocean is not influenced by the TRS agreements.

Hamilton, Bermuda
December 10, 2009.

Contact:
Geir Karlsen: CFO, Golden Ocean Management AS
+47 22 01 73 53

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.


Copyright © Hugin AS 2009. All rights reserved.

Contact Information