GOGL - Issuance of Share Options
(Thomson Reuters ONE) -
Golden Ocean Group Limited (the "Company") announces the issuance of 2,750,000
share options awarded to certain of the Company's Directors and employees. The
share options have been granted today on the terms set forth in the Company's
previously approved Share Option Plan.
The share options will have a seven year term and will vest equally one quarter
each year over a four year vesting period with the first quarter vesting on July
21, 2012. The strike price for the share options will be NOK 9.50. The strike
price will be adjusted for dividends.
Primary insiders have received options as follow:
John Fredriksen (Director) 750,000
Herman Billung 250,000
Birgitte Ringstad Vartdal 200,000
The Company's Primary Insiders are holding the following share options, shares
and have exposure to total return swap agreements (TRS) as follows following
these grants:
Share Options Shares TRS
John Fredriksen (Director) 850,000 * *
Tor Olav Trøim (Director) 100,000 584,982 800,000
Cecilie Fredriksen (Director) 100,000 nil nil
Hans Christian Børresen (Director) 100,000 106,000 nil
Kate Blankenship (Director) 100,000 206,000 nil
Herman Billung 625,000 nil nil
Birgitte Ringstad Vartdal 200,000 nil nil
* The share ownership of Mr. John Fredriksen is distinct from the shares owned
by Hemen Holding Ltd which is indirectly controlled by trusts established by Mr.
Fredriksen for the benefit of his immediate family.
Hamilton, Bermuda
July 23, 2010
Contact Person:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 40
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1433683]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golden Ocean Group via Thomson Reuters ONE
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