Golden Ocean Group's Strategic Share Buy-Back Update
Golden Ocean Group Renewed Share Buy-Back Program
Golden Ocean Group Limited (OSE/NASDAQ: GOGL) has recently undertaken significant steps to optimize its capital structure through a renewed share buy-back program. This initiative allows the company to repurchase up to $100 million worth of its own common shares over a 12-month period.
Overview of Recent Stock Purchases
In a notable transaction between December 20 and December 23 of the following year, Golden Ocean Group Limited successfully acquired 80,000 of its common shares on the Oslo Stock Exchange. These shares were purchased at an average price of NOK 99.15 per share. As a result of these transactions, the company now holds a total of 1,787,328 shares, which represents about 0.89% of its total share capital.
Impact on Shareholder Value
This buy-back program is a strategic move aimed at enhancing shareholder value. By retiring shares, the company can potentially increase the value of remaining shares, thereby rewarding existing shareholders. The decision to repurchase shares underscores Golden Ocean's confidence in its financial position and long-term business strategy.
Details of Transactions
A detailed overview of all transactions related to the buy-back program conducted during this specified timeframe has been provided for transparency. This information will help stakeholders assess the ongoing strategy and performance of Golden Ocean Group.
Company Contact Information
For further inquiries regarding the share buy-back and other corporate matters, interested parties are encouraged to reach out to Peder Simonsen, who serves as the Interim Chief Executive Officer and Chief Financial Officer of Golden Ocean Management AS. You can contact him by phone at +47 23 11 40 00.
Final Notes on the Buy-Back Program
Golden Ocean Group Limited is committed to providing updates about its financial performance and strategies openly. This buy-back program is just one element of a broader agenda focused on sustainable growth and shareholder engagement. The company will continue to monitor market conditions and evaluate the effects of these moves on its overall market position.
Frequently Asked Questions
What is the purpose of Golden Ocean Group's buy-back program?
The buy-back program aims to enhance shareholder value by reducing the total number of shares outstanding, which can lead to an increase in share prices.
How many shares did Golden Ocean purchase during the recent transactions?
Golden Ocean purchased 80,000 shares on the Oslo Stock Exchange during the specified dates.
What is the total amount allocated for the buy-back program?
The total amount allocated for the buy-back program is USD 100 million.
Who can I contact for more information about the company?
Peder Simonsen, the Interim CEO and CFO, can be contacted at +47 23 11 40 00 for further inquiries.
Where can I find more details on the buy-back transactions?
A comprehensive overview of the buy-back transactions is attached and available through official company communications.
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