Golden Ocean Group
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Eröffnet am: | 05.07.07 13:22 | von: Slater | Anzahl Beiträge: | 67 |
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Meine persönliche Meinung !
affiliated with John Fredriksen, has settled a TRS agreement (Total
Return Swap) underlying 1,423,001 shares in Golden Ocean Group
Limited ("Golden Ocean") expiring July 15, 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
October 15, 2009, and the new TRS price is NOK 6.827 per share.
Hemen Holding Limited's affiliated ownership in Golden Ocean Group
Limited is not influenced by the TRS agreements.
Meine persönliche Meinung !
Golden Ocean Group Limited (Golden Ocean) is engaged in ship ownership and operation. The Company is also involved in the charter, purchase and sale of vessels. The Company operates a fleet of owned and leased panamax and capesize drybulk vessels. The Company also trades forward freight agreements for the purpose of managing its exposure to vessel spot market rates and for speculating. The Company’s subsidiaries include Golden President Shipping Corporation, Golden Hilton Shipping Corporation, Front Carriers Ltd and Golden Dena Corporation.
17:30 04.08.09
Reference is made to Golden Ocean Group Limited's ("Golden Ocean" or
"the Company") press release dated November 9, 2007 informing about
the sale of the six Panamax vessels under construction at Pipavav
Shipyard in India. Reference is also made to the information given
related to this transaction in the Prospectus dated June 29, 2009
released by the Company.
The buyer of the vessels, Brittania Bulk Finance Limited, (ultimately
owned by Brittania Bulk Holdings Inc) has since March 13, 2009 been
subject to administration under the supervision of the UK courts.
Brittania Bulk Holdings Inc went into administration under the
Insolvency Act 1986 of England and Wales in November 2008.
The administration of Britannia Bulk Finance Limited created a high
uncertainty linked to our counterpart's ability to ultimately take
delivery of the six vessels. The fact that the yard experienced
delays in their delivery schedule further highlighted the uncertain
outcome of the transaction. In this difficult situation Golden Ocean
has sought for a solution which gives the company a higher degree of
certainty. The discussions with the counterpart have been progressing
during the last half year.
The Board of Golden Ocean is pleased to announce that an agreement
has been reached with the buyer of the vessels. Through this
agreement the parties have mutually accepted to terminate the
purchase agreements for all six vessels against certain
considerations from the buyer. Golden Ocean will as a direct
consequence of this agreement realize a profit of approximately $53.8
million, effectively by reducing the company's liability with a
similar amount. The profit will be recorded in the third quarter of
2009.
It currently seems unlikely that Pipavav Shipyard will be able to
deliver at least the first two vessels within the cancellation dates.
Golden Ocean has entered into discussions with the shipyard regarding
an alternation of the existing contracts. However, Golden Ocean will
only agree to such alterations subject to such a deal clearly
creating additional value for Golden Ocean's shareholders.
Hamilton, Bermuda
August 4, 2009
Quelle: www.ariva.de/news
1. Presentation
A presentation of Golden Ocean's second quarter 2009 results will take place in Oslo at Stranden 21 (DnB NOR building at Aker Brygge) on Monday august 17, 2009 at 08:30 A.M. If you wish to attend please confirm to our Reception at +47 22 01 73 40
2. Teleconference and webcast
A conference call will be held at 03:00 P.M. Central European Time (9:00 A.M. EST) on Monday August 17, 2009. The presentation will be available for download from the Investor Relations section at www.goldenocean.no (under "Presentations") Monday morning.
Quelle + Volltext: http://www.goldenocean.no/IR/press_releases/1334163.shtml
As of today Golden Ocean owns $6,800,000 of CBs representing 27.5 per cent of the total outstanding amount.
August 31, 2009
Hamilton, Bermuda
Quelle: http://www.goldenocean.no/IR/press_releases/1338174.shtml