GOGL - Transactions made under the buy-back programme

Rhea-AI Summary

Golden Ocean Group Limited (GOGL) announced on December 2, 2022, that it has repurchased 250,000 of its own common shares as part of a previously established buy-back program of up to USD 100 million. This purchase included 100,000 shares on the Oslo Stock Exchange at an average price of NOK 79.37 and 150,000 shares on Nasdaq at USD 8.20 each. Following this transaction, GOGL now holds a total of 555,000 shares, representing 0.28% of its total capital. The buy-back program is expected to continue over a 12-month period from the original announcement on October 4, 2022.

Positive

• Completed buy-back of 250,000 shares, demonstrating confidence in the company's financial health.
• Total shares repurchased now at 555,000, representing 0.28% of share capital, which supports share price stability.

Negative

• None.

Reference is made to the stock announcement on October 4, 2022, where Golden Ocean Group Limited (OSE/NASDAQ: GOGL) announced the commencement of its share buy-back programme of maximum USD 100 million to purchase up to an aggregate of 10,000,000 of the company's common shares in a 12 months period from the announcement.

Golden Ocean Group Limited (“GOGL” or the “Company”) announces that the Company has on December 2, 2022, purchased 250,000 of the Company’s own common stocks. 100,000 of the shares have been bought on the Oslo Stock Exchange at an average price of NOK 79.37 per share and 150,000 of the shares have been bought on Nasdaq at an average price of USD 8.20 per share. Following the completion of the above transactions, GOGL owns a total of 555,000 of own shares, corresponding to 0.28% of the Company’s share capital.

An overview of all transactions made under the buy-back programme that have been carried out during the above-mentioned date is attached to this report and available at www.newsweb.no.

December 5, 2022
Hamilton, Bermuda

For more info please contact:

Peder Simonsen, Chief Financial Officer of Golden Ocean Management AS.
Telephone +47 23 11 40 00

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

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Attachments

• Week 48 overview
• GOGL buyback Dec 2 Oslo Stock Exchange
• GOGL buyback Dec 2 NASDAQ

FAQ

What is the latest share buy-back update from Golden Ocean Group (GOGL) as of December 2022?

On December 2, 2022, GOGL purchased 250,000 of its own shares as part of a buy-back program initiated on October 4, 2022.

How many shares has Golden Ocean Group repurchased so far?

GOGL has repurchased a total of 555,000 shares, equivalent to 0.28% of its total capital.

What were the average prices for GOGL shares bought back on Oslo and Nasdaq?

GOGL bought 100,000 shares on the Oslo Stock Exchange at an average price of NOK 79.37 and 150,000 shares on Nasdaq at USD 8.20 each.

How much is Golden Ocean Group planning to spend on its share buy-back program?

GOGL's share buy-back program has a maximum budget of USD 100 million.