GOGL - 2020 Annual General Meeting

Rhea-AI Summary

Golden Ocean Group Limited held its 2020 Annual General Meeting on August 31, 2020, in Hamilton, Bermuda, where the audited financial statements for 2019 were presented. Key resolutions passed included setting a maximum of eight Directors, designating vacancies as casual, and re-electing Directors John Fredriksen, Ola Lorentzon, James O’Shaughnessy, Marius Hermansen. Tor Svelland was elected as a new Director. PricewaterhouseCoopers AS was re-appointed as auditors with remuneration determined by the Directors. The Board's total remuneration was set to not exceed US$600,000 for 2020.

Positive

• Re-election of experienced Directors enhances leadership stability.
• Appointment of PricewaterhouseCoopers AS may strengthen financial oversight.

Negative

• Total Board remuneration capped at US$600,000 may raise concerns about management expenses.

Golden Ocean Group Limited (the “Company”) advises that the 2020 Annual General Meeting of the Shareholders of the Company was held on August, 31 2020 at 9:30 a.m. at Par-la-Ville Place, 4^th Floor, 14 Par-la-Ville Road, Hamilton, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2019 were presented to the Meeting.

In addition, the following resolutions were passed:

1. To set the maximum number of Directors to be not more than eight

2. To resolve that vacancies in the number of Directors be designated as casual vacancies and that the Board of Directors be authorised to fill such vacancies as and when it deems fit

3. To re-elect John Fredriksen as a Director of the Company

4. To re-elect Ola Lorentzon as a Director of the Company

5. To re-elect James O’Shaughnessy as a Director of the Company

6. To re-elect Marius Hermansen as a Director of the Company

7. To elect Tor Svelland as a Director of the Company

8. To re-appoint PricewaterhouseCoopers AS of Oslo, Norway as auditors and to authorise the Directors to determine their remuneration

9. To approve the remuneration of the Company’s Board of Directors of a total amount of fees not to exceed US$600,000 for the year ended December 31, 2020

Hamilton, Bermuda
August 31, 2020
 
 

 
 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act

 

FAQ

What key decisions were made at the Golden Ocean Group Limited 2020 AGM?

Key decisions included the re-election of Directors and the appointment of auditors, along with setting the maximum number of Directors to eight.

When was the Golden Ocean Group Limited 2020 AGM held?

The AGM was held on August 31, 2020.

What is the maximum number of Directors for Golden Ocean Group Limited?

The maximum number of Directors has been set to not exceed eight.

Who were re-elected as Directors at Golden Ocean Group Limited's AGM?

John Fredriksen, Ola Lorentzon, James O’Shaughnessy, and Marius Hermansen were re-elected as Directors.

What was the total remuneration approved for the Board of Directors?

The total remuneration approved for the Board of Directors was capped at US$600,000 for the year ended December 31, 2020.

Who was appointed as auditors for Golden Ocean Group Limited?

PricewaterhouseCoopers AS was re-appointed as auditors for the Company.