Golden Ocean Group Shares Repurchase Update and Details
Overview of Golden Ocean Group's Buy-Back Program
Golden Ocean Group Limited (OSE/NASDAQ: GOGL) recently announced an impressive commitment to its share buy-back program, showcasing its dedication to enhancing shareholder value. The company is set to deploy a substantial budget of USD 100 million aimed at repurchasing up to 10 million of its common shares within a year from the launch of the program.
Recent Activity in Share Buy-Back Program
Between December 11 and December 17, 2024, Golden Ocean engaged in significant stock buy-back activity. During this period, the company successfully repurchased a total of 545,000 shares. Of these transactions, 420,000 shares were acquired on the Oslo Stock Exchange at a notable average price of NOK 101.62, and 125,000 shares were purchased on Nasdaq, averaging USD 9.21 per share. Following these purchases, GOGL now holds a total of 1,707,328 shares, which represents 0.85% of its overall share capital.
Benefits of the Buy-Back Program
This strategic share buy-back initiative not only demonstrates Golden Ocean's financial strength but also serves as a reaffirmation of its commitment to returning value to its shareholders. Engaging in such practices can improve earnings per share and potentially lead to an increase in stock price, appealing to current and future investors.
Future Actions and Management’s Strategic Vision
The ongoing buy-back program illustrates the proactive stance of Golden Ocean’s management in responding to market conditions. By repurchasing shares, management is taking a stance to stabilize the share price while also signaling confidence in the company’s future earnings potential and stability. As the company navigates the evolving landscape of the shipping industry, maintaining a flexible approach will be critical to achieving long-term goals.
Communication from Management
In light of these recent developments, Peder Simonsen, the Interim Chief Executive Officer and Chief Financial Officer, urges shareholders to closely monitor the progress of the buy-back program. He emphasizes the importance of shareholder engagement in fostering growth and ensures that stakeholders remain informed about the company’s financial undertakings.
Contact Information
For any inquiries related to these transactions or further information about Golden Ocean Group Limited's ongoing strategies, investors and stakeholders can reach out directly to the management team. Peder Simonsen can be contacted via telephone at +47 23 11 40 00 for personalized assistance and clarification.
Frequently Asked Questions
What is the purpose of Golden Ocean's buy-back program?
The program aims to enhance shareholder value by repurchasing shares with a budget of USD 100 million, potentially improving stock price and earnings.
How many shares has Golden Ocean Group purchased recently?
Golden Ocean Group has recently repurchased 545,000 shares between December 11 and December 17, 2024.
What are the average purchase prices for shares bought on each exchange?
The company purchased 420,000 shares at NOK 101.62 on the Oslo Stock Exchange and 125,000 shares at USD 9.21 on Nasdaq.
What percentage of total share capital do the repurchased shares represent?
The repurchased shares account for 0.85% of Golden Ocean Group’s total share capital.
How can shareholders get in touch for more information?
Shareholders can contact Peder Simonsen at +47 23 11 40 00 for any inquiries regarding the buy-back program or company strategies.
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