GOGL – 2021 Annual General Meeting

Rhea-AI Summary

Golden Ocean Group Limited held its 2021 Annual General Meeting on May 26, 2021. The meeting presented audited financial statements for the year ending December 31, 2020. Key resolutions included setting a maximum of eight directors, re-electing several board members including John Fredriksen and approving auditor reappointment. The Board's remuneration was set at a maximum of $600,000 for 2021, and a reduction in Share Premium account was approved.

Positive

• Re-election of experienced directors strengthens corporate governance.
• Approval of auditor reappointment ensures continuity in financial oversight.
• Board remuneration cap set at $600,000, indicating controlled compensation expenses.

Negative

• None.

 

Golden Ocean Group Limited (the “Company”) advises that the 2021 Annual General Meeting of the Shareholders of the Company was held on May 26, 2021 at 9:30 a.m. at Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2020 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 Bjørn Tore Larsen as a Director of the Company.
    
7. To re-elect Tor Svelland as a Director of the Company.
    
8. To re-appoint PricewaterhouseCoopers AS as auditors and to authorise the Directors to determine their remuneration.
    
9. To approve 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, 2021.
    
10. To approve the reduction in Share Premium account.

 

Hamilton, Bermuda
May 26, 2021

 

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

 

 

FAQ

What were the key resolutions passed at the Golden Ocean Group's 2021 Annual General Meeting?

The key resolutions included setting a maximum of eight directors, re-electing existing board members, reappointing auditors, and approving board remuneration.

When did Golden Ocean Group hold its Annual General Meeting?

The Annual General Meeting was held on May 26, 2021.

What was the maximum board remuneration approved for Golden Ocean Group in 2021?

The maximum board remuneration approved for 2021 was set at $600,000.

Who were the directors re-elected during the Golden Ocean Group's 2021 AGM?

Directors re-elected included John Fredriksen, Ola Lorentzon, James O'Shaughnessy, Bjørn Tore Larsen, and Tor Svelland.

What financial statements were presented at the Golden Ocean Group's AGM?

Audited consolidated financial statements for the year ended December 31, 2020, were presented.