GOGL - Investment in Knightsbridge Tankers Limited through sale of vessel
(Thomson Reuters ONE) -
Golden Ocean Group Limited ("Golden Ocean" or the "Company") is pleased to
advise that the Company has agreed with Knightsbridge Tankers Limited
("Knightsbridge") to sell the capesize vessel "Golden Future" at a sales price
of $72 million. The sales proceeds will be used to pay down debt on the asset
and the balance, $25 million, to acquire a restricted number of common shares in
Knightsbridge.
The Board of Golden Ocean is pleased with its continued commercial relationship
with Knightsbridge and hopes to add value to their presence within the dry bulk
segment.
The Investment in Knightsbridge is of long term nature. The Board sees the
investment as a strategic holding which gives Golden Ocean the opportunity to,
together with Knightsbridge, develop new dry bulk business based on mainly yield
driven investment criteria. Such a position creates an additional flexibility
for Golden Ocean and increases the possibilities to benefit from different
prizing in the asset market, the public market and the yield sequrity market.
The prizing of the Knightsbridge stock including the direct yield and the
prospects for a growing dividend further supports the investment.
Hamilton, Bermuda
June 15, 2010
Contact Persons:
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#1424068]
Unternehmensinformation / Kurzprofil:
Datum: 15.06.2010 - 14:26 Uhr
Sprache: Deutsch
News-ID 22460
Anzahl Zeichen: 0
contact information:
Town:
Hamilton
Kategorie:
Business News
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