SOURCE: Golden Ocean Group

November 16, 2010 09:11 ET

GOGL - Mandatory notification of trade

HAMILTON, NORWAY--(Marketwire - November 16, 2010) - Farahead Investments Inc., a company indirectly controlled by trusts affiliated with John Fredriksen and his family, has borrowed 70,000,000 shares in Golden Ocean Group Limited ("Golden Ocean") from Hemen Holding Limited, another company indirectly controlled by trusts affiliated with Mr. Fredriksen and his family.

The loan is made for a fixed period of 12 months with a right of renewal.

The overall ownership interest of the trusts affiliated with Mr. Fredriksen and his family in Golden Ocean is not influenced by the transaction.

Hamilton, Bermuda

November 16, 2010

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

[HUG#1463044]

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Source: Golden Ocean Group via Thomson Reuters ONE

Contact Information

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