SOURCE: Golden Ocean Group

June 15, 2010 01:47 ET

GOGL - Mandatory Notification of Trade

HAMILTON, BERMUDA--(Marketwire - June 15, 2010) -


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 June 14, 2010. Hemen Holding Limited has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is September 14, 2010, and the new TRS price is NOK 8.8428 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 June 14, 2010. Drew Investment has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is September 14, 2010, and the new TRS price is NOK 8.8428 per share. Drew Investment and Tor Olav Trøims ownership in Golden Ocean is not influenced by the TRS agreements.

Hamilton, Bermuda
June 15, 2010

This information is subject of the disclosure requirements acc. to §5- 12 vphl (Norwegian Securities Trading Act)

[HUG#1423881]

Contact Information

  • Geir Karlsen (CFO)
    +47 23 11 40 00