GOGL - Update on Merger with CMB.TECH and Change of VPS Registrar
Golden Ocean Group (NASDAQ: GOGL) has provided an update on its pending merger with CMB.TECH NV (NYSE: CMBT). The merger is expected to complete around August 20, 2025, following Golden Ocean's Special General Meeting on August 19, 2025.
The company announced a change in its VPS registrar from Nordea to DNB Carnegie to facilitate the merger closing. As part of this transition, there will be a conversion stop period from August 4 to August 20, 2025, during which shareholders cannot convert or transfer shares between Euronext Oslo B酶rs and Nasdaq. Trading of new CMB.TECH merger consideration shares is expected to begin on NYSE, Euronext Brussels, and Euronext Oslo B酶rs on August 20, 2025.
Golden Ocean Group (NASDAQ: GOGL) ha fornito un aggiornamento sulla sua fusione in corso con CMB.TECH NV (NYSE: CMBT). La fusione 猫 prevista per completarsi intorno al 20 agosto 2025, dopo l'Assemblea Speciale di Golden Ocean del 19 agosto 2025.
La societ脿 ha annunciato il cambio del suo registrar VPS da Nordea a DNB Carnegie per facilitare la chiusura della fusione. Come parte di questa transizione, ci sar脿 un periodo di blocco per la conversione dal 4 al 20 agosto 2025, durante il quale gli azionisti non potranno convertire o trasferire azioni tra Euronext Oslo B酶rs e Nasdaq. Il trading delle nuove azioni di fusione CMB.TECH 猫 previsto iniziare su NYSE, Euronext Bruxelles e Euronext Oslo B酶rs il 20 agosto 2025.
Golden Ocean Group (NASDAQ: GOGL) ha proporcionado una actualizaci贸n sobre su fusi贸n pendiente con CMB.TECH NV (NYSE: CMBT). Se espera que la fusi贸n se complete alrededor del 20 de agosto de 2025, tras la Junta General Especial de Golden Ocean el 19 de agosto de 2025.
La compa帽铆a anunci贸 un cambio en su registrador VPS de Nordea a DNB Carnegie para facilitar el cierre de la fusi贸n. Como parte de esta transici贸n, habr谩 un per铆odo de detenci贸n de conversi贸n del 4 al 20 de agosto de 2025, durante el cual los accionistas no podr谩n convertir ni transferir acciones entre Euronext Oslo B酶rs y Nasdaq. Se espera que la negociaci贸n de las nuevas acciones de consideraci贸n de la fusi贸n CMB.TECH comience en NYSE, Euronext Bruselas y Euronext Oslo B酶rs el 20 de agosto de 2025.
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Golden Ocean Group (NASDAQ : GOGL) a fourni une mise 脿 jour concernant sa fusion en cours avec CMB.TECH NV (NYSE : CMBT). La fusion devrait 锚tre finalis茅e aux alentours du 20 ao没t 2025, suite 脿 l'Assembl茅e G茅n茅rale Sp茅ciale de Golden Ocean le 19 ao没t 2025.
L'entreprise a annonc茅 un changement de son registraire VPS, passant de Nordea 脿 DNB Carnegie, afin de faciliter la cl么ture de la fusion. Dans le cadre de cette transition, une p茅riode de suspension des conversions du 4 au 20 ao没t 2025 sera mise en place, durant laquelle les actionnaires ne pourront ni convertir ni transf茅rer des actions entre Euronext Oslo B酶rs et Nasdaq. La n茅gociation des nouvelles actions de contrepartie de la fusion CMB.TECH devrait d茅buter le 20 ao没t 2025 sur le NYSE, Euronext Bruxelles et Euronext Oslo B酶rs.
Golden Ocean Group (NASDAQ: GOGL) hat ein Update zu seiner bevorstehenden Fusion mit CMB.TECH NV (NYSE: CMBT) ver枚ffentlicht. Die Fusion soll voraussichtlich um den 20. August 2025 abgeschlossen werden, nach der Sonderhauptversammlung von Golden Ocean am 19. August 2025.
Das Unternehmen gab bekannt, dass der VPS-Registrar von Nordea zu DNB Carnegie gewechselt wird, um den Abschluss der Fusion zu erleichtern. Im Rahmen dieses 脺bergangs wird es eine Umwandlungssperrfrist vom 4. bis 20. August 2025 geben, w盲hrend der Aktion盲re keine Aktien zwischen Euronext Oslo B酶rs und Nasdaq umwandeln oder 眉bertragen k枚nnen. Der Handel mit den neuen CMB.TECH-Fusionsaktien soll am 20. August 2025 an der NYSE, Euronext Br眉ssel und Euronext Oslo B酶rs beginnen.
- Merger completion timeline is clearly defined with expected closing on August 20, 2025
- Shareholders will receive new CMB.TECH shares on their respective trading venues (NYSE or Euronext Oslo B酶rs)
- CMB.TECH shares will have expanded market presence across NYSE, Euronext Brussels, and Euronext Oslo B酶rs
- Temporary trading restriction during conversion stop period (August 4-20, 2025) affecting share transfers between exchanges
- Additional two-day trading restriction for CMB.TECH shares after merger completion
Insights
Golden Ocean's merger with CMB.TECH advances with expected August 20 completion date; temporary share conversion freeze announced.
Golden Ocean Group Limited has provided key operational updates regarding its planned merger with CMB.TECH. The companies expect to complete the merger around August 20, 2025, following Golden Ocean's Special General Meeting scheduled for August 19. This timeline aligns with the first anticipated trading day for newly issued CMB.TECH shares across multiple exchanges.
The announcement outlines important technical details affecting shareholders during the transition. Golden Ocean is changing its registrar in Euronext Securities Oslo from Nordea to DNB Carnegie to facilitate the merger closing. This change necessitates a temporary freeze on share conversions between Euronext Oslo B酶rs and Nasdaq, expected to last from August 4 until approximately August 22, 2025.
For shareholders, the distribution mechanism is geography-specific: Golden Ocean shareholders with shares trading on Nasdaq will receive new CMB.TECH ordinary shares that trade on NYSE, while those with shares on Euronext Oslo B酶rs will receive shares expected to trade on Euronext Oslo B酶rs.
This announcement primarily addresses administrative procedures rather than revealing new strategic information about the merger itself. The temporary conversion restriction represents a standard procedural step to ensure proper accounting and distribution of new shares following the merger completion. The merger remains subject to shareholder approval at the upcoming Special General Meeting and other closing conditions.
Hamilton, Bermuda, 28 July, 2025 鈥� Reference is made to the stock exchange announcement made by Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo B酶rs: GOGL) ("Golden Ocean") and CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) ("CMB.TECH") on 28 May 2025, where a merger between Golden Ocean and CMB.TECH was announced (the "Merger").
Assuming timely fulfillment of the relevant closing conditions, the parties aim to complete the Merger as soon as possible after the Golden Ocean Special General Meeting scheduled for 19 August 2025, currently expected on or around 20聽August聽2025, which will also be the first day of trading for the newly issued CMB.TECH Merger consideration shares on NYSE, Euronext Brussels and, tentatively, the first day of trading of CMB.TECH on Euronext Oslo B酶rs.
It is envisaged that Golden Ocean shareholders owning Golden Ocean common shares that trade on Nasdaq shall receive their portion of the new CMB.TECH ordinary shares that trade on NYSE, and Golden Ocean shareholders owning Golden Ocean common shares that trade on Euronext Oslo B酶rs shall receive their portion of the new CMB.TECH ordinary shares that are expected to trade on Euronext Oslo B酶rs.
In order to facilitate for the closing of the Merger, Golden Ocean has decided to change its registrar in Euronext Securities Oslo ("VPS") from Nordea Trading & Custody Services, a part of Nordea Bank Abp, filial i Norge ("Nordea"), to DNB Carnegie, a part of DNB Bank ASA ("DNB").
As part of this transition, the full holding of Golden Ocean shares currently registered with Nordea in Euroclear will be transferred to DNB via Clearstream.
In connection with the change of VPS registrar as well as to facilitate timely delivery and settlement of the Merger consideration shares to Golden Ocean shareholders with their shares trading on Euronext Oslo B酶rs, through the VPS, there will be a conversion stop in the VPS system. During this period, Golden Ocean shareholders will not be able to convert or transfer their Golden Ocean shares between Euronext Oslo B酶rs (VPS) and Nasdaq (DTC). Nordea is expected to halt conversion services approximately two (2) business days prior to the transfer to DNB and until the Merger has been completed, while DNB aims to resume conversion services for the CMB.TECH shares approximately two (2) business days after the CMB.TECH shares have begun trading on Euronext Oslo B酶rs. As a result, the conversion stop for the Golden Ocean shares is expected to occur on or about 4 August until the closing date of the Merger expected to be on or about 20 August 2025, and continuing for the CMB.TECH shares for approximately two (2) business days thereafter, depending on the timing of the registrar change and fulfilment of the relevant Merger closing conditions.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
FAQ
When will the Golden Ocean (GOGL) and CMB.TECH merger be completed?
What happens to GOGL shares after the merger with CMB.TECH?
What is the conversion stop period for GOGL shares during the merger?
Why is Golden Ocean changing its VPS registrar from Nordea to DNB?
When will CMB.TECH shares begin trading on the different exchanges?
