GOGL – 2022 AGM Results Notification

Rhea-AI Summary

Golden Ocean Group Limited conducted its 2022 Annual General Meeting on September 30, 2022, where shareholders reviewed the audited financial statements for the year ended December 31, 2021. Significant resolutions passed included setting a maximum of eight Directors, re-electing existing Directors, and re-appointing PricewaterhouseCoopers AS as auditors. The Board of Directors’ remuneration was approved at a total not exceeding US$600,000 for 2022. An amendment to the Company’s bye-laws was also approved.

Positive

• Re-election of experienced Directors enhances company stability.
• Approval of auditor re-appointment ensures ongoing financial oversight.
• Amendment to bye-laws may enhance corporate governance.
• Board's remuneration set at a controlled level of US$600,000.

Negative

• None.

Golden Ocean Group Limited (the “Company”) advises that the 2022 Annual General Meeting of the Shareholders of the Company was held on September 30, 2022 at 08:30 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, 2021 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 authorized 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 Ben Mills as a Director of the Company.
   
   
8. To re-appoint PricewaterhouseCoopers AS as auditors and to authorize 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, 2022.
   
   
10. To approve an amendment to the bye-laws of the Company.
    
    

September 30, 2022

The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda

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

FAQ

What were the key outcomes of the Golden Ocean Group Limited Annual General Meeting in 2022?

The key outcomes included re-election of Directors, approval of Board remuneration not exceeding US$600,000, and auditor re-appointment.

How many Directors can Golden Ocean Group Limited have according to the 2022 AGM?

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

Who were re-elected as Directors during the Golden Ocean Group Limited 2022 AGM?

John Fredriksen, Ola Lorentzon, James O’Shaughnessy, Bjørn Tore Larsen, and Ben Mills were re-elected as Directors.

What is the approved remuneration for the Board of Directors of Golden Ocean Group Limited for 2022?

The approved remuneration for the Board of Directors is a total amount not exceeding US$600,000 for the year.

What was discussed regarding auditors at the Golden Ocean Group Limited AGM?

PricewaterhouseCoopers AS was re-appointed as auditors, with Directors authorized to determine their remuneration.