Filing Details
- Accession Number:
- 0000919574-19-004271
- Form Type:
- 13D Filing
- Publication Date:
- 2019-06-24 16:06:27
- Filed By:
- Hemen Holding Ltd
- Company:
- Golden Ocean Group Ltd (NASDAQ:GOGL)
- Filing Date:
- 2019-06-24
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
Hemen Holding Limited | 0 | 50,647,009 | 0 | 50,647,009 | 50,647,009 | 35.1% |
Frontline Ltd | 0 | 1,270,657 | 0 | 1,270,657 | 1,270,657 | 0.9% |
Greenwich Holdings Limited | 0 | 50,647,009 | 0 | 50,647,009 | 50,647,009 | 35.1% |
C.K. Limited | 0 | 50,647,009 | 0 | 50,647,009 | 50,647,009 | 35.1% |
John Fredriksen | 0 | 50,647,009 | 0 | 50,647,009 | 50,647,009 | 35.1% |
Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under The Securities Exchange Act of 1934
(Amendment No. 10)*
Golden Ocean Group Limited |
(Name of Issuer) |
|
Common Shares, par value $0.05 per share |
(Title of Class of Securities) |
G39637205 |
(CUSIP Number) |
Hemen Holding Limited c/o Seatankers Management Co Ltd P.O. Box 53562 CY-3399 Limassol Cyprus Attn: Spyros Episkopou +(357) 25-858-300 with a copy to: Keith J. Billotti, Esq. Gary J. Wolfe, Esq. Seward & Kissel LLP One Battery Park Plaza New York, New York 10004 (212) 574-1200 |
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
|
June 13, 2019 |
(Date of Event Which Requires Filing of this Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box [_]. |
|
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes). |
| |
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
CUSIP No. | G39637205 | | |
1. | NAME OF REPORTING PERSONS | |
| I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | |
| | |
| Hemen Holding Limited | |
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | |
| | (a) [X] |
| | (b) [_] |
3. | SEC USE ONLY | |
4. | SOURCE OF FUNDS | |
| | |
| WC, OO | |
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | [_] |
| | |
| | |
6. | CITIZENSHIP OR PLACE OF ORGANIZATION | |
| | |
| Cyprus | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | ||
| | |
7. | SOLE VOTING POWER | |
| | |
| 0 | |
8. | SHARED VOTING POWER | |
| | |
| *50,647,009 | |
9. | SOLE DISPOSITIVE POWER | |
| | |
| 0 | |
10. | SHARED DISPOSITIVE POWER | |
| | |
| *50,647,009 | |
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
| | |
| *50,647,009 | |
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| | [_] |
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | |
| | |
| 35.1% | |
14. | TYPE OF REPORTING PERSON | |
| | |
| CO | |
* Hemen Holding Limited beneficially
owns approximately 46.5% of the issued and outstanding shares of Frontline Ltd. and may be deemed to beneficially own the Common Shares (defined below) that
Frontline Ltd. beneficially owns. The 50,647,009 Common Shares include Frontline Ltd.’s 1,270,657 Common Shares.
CUSIP No. | G39637205 | | |
1. | NAME OF REPORTING PERSONS | |
| I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | |
| | |
| Frontline Ltd. | |
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | |
| | (a) [X] |
| | (b) [_] |
3. | SEC USE ONLY | |
4. | SOURCE OF FUNDS | |
| | |
| OO | |
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | [_] |
| | |
| | |
6. | CITIZENSHIP OR PLACE OF ORGANIZATION | |
| | |
| Bermuda | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | ||
| | |
7. | SOLE VOTING POWER | |
| | |
| 0 | |
8. | SHARED VOTING POWER | |
| | |
| *1,270,657 | |
9. | SOLE DISPOSITIVE POWER | |
| | |
| 0 | |
10. | SHARED DISPOSITIVE POWER | |
| | |
| *1,270,657 | |
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
| | |
| *1,270,657 | |
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| | [_] |
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | |
| | |
| 0.9% | |
14. | TYPE OF REPORTING PERSON | |
| | |
| CO | |
* Frontline Ltd. beneficially owns 1,260,358 Common Shares, which it has the right to acquire with settlement on September 24, 2019. ICB Shipping (Bermuda) Limited, Frontline Ltd.’s wholly-owned subsidiary, also beneficially owns 10,299 Common Shares.
CUSIP No. | G39637205 | | |
1. | NAME OF REPORTING PERSONS | |
| I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | |
| | |
| Greenwich Holdings Limited | |
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | |
| | (a) [X] |
| | (b) [_] |
3. | SEC USE ONLY | |
4. | SOURCE OF FUNDS | |
| | |
| OO | |
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | [_] |
| | |
| | |
6. | CITIZENSHIP OR PLACE OF ORGANIZATION | |
| | |
| Cyprus | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | ||
| | |
7. | SOLE VOTING POWER | |
| | |
| 0 | |
8. | SHARED VOTING POWER | |
| | |
| *50,647,009 | |
9. | SOLE DISPOSITIVE POWER | |
| | |
| 0 | |
10. | SHARED DISPOSITIVE POWER | |
| | |
| *50,647,009 | |
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
| | |
| *50,647,009 | |
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| | [_] |
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | |
| | |
| 35.1% | |
14. | TYPE OF REPORTING PERSON | |
| | |
| CO | |
* Greenwich Holdings Limited is the sole shareholder of Hemen Holding Limited. As such, it may be deemed to
beneficially own the Common Shares beneficially owned by Hemen Holding Limited.
CUSIP No. | G39637205 | | |
1. | NAME OF REPORTING PERSONS | |
| I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | |
| | |
| C.K. Limited | |
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | |
| | (a) [X] |
| | (b) [_] |
3. | SEC USE ONLY | |
4. | SOURCE OF FUNDS | |
| | |
| OO | |
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | [_] |
| | |
| | |
6. | CITIZENSHIP OR PLACE OF ORGANIZATION | |
| | |
| Cyprus | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | ||
| | |
7. | SOLE VOTING POWER | |
| | |
| 0 | |
8. | SHARED VOTING POWER | |
| | |
| *50,647,009 | |
9. | SOLE DISPOSITIVE POWER | |
| | |
| 0 | |
10. | SHARED DISPOSITIVE POWER | |
| | |
| *50,647,009 | |
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
| | |
| *50,647,009 | |
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| | [_] |
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | |
| | |
| 35.1% | |
14. | TYPE OF REPORTING PERSON | |
| | |
| CO | |
* C.K. Limited is the trustee of various trusts established by John Fredriksen for the benefit of his immediate family
members (the "Trusts"). The Trusts are the sole shareholders of Greenwich Holdings Limited and the indirect owners of Hemen Holding Limited. As such, C.K.
Limited may be deemed to beneficially own the Common Shares that are beneficially owned by Greenwich Holdings Limited and Hemen Holding Limited.
CUSIP No. | G39637205 | | |
1. | NAME OF REPORTING PERSONS | |
| I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) | |
| | |
| John Fredriksen* | |
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | |
| | (a) [X] |
| | (b) [_] |
3. | SEC USE ONLY | |
4. | SOURCE OF FUNDS | |
| | |
| OO | |
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | [_] |
| | |
| | |
6. | CITIZENSHIP OR PLACE OF ORGANIZATION | |
| | |
| Cyprus | |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | ||
| | |
7. | SOLE VOTING POWER | |
| | |
| 0 | |
8. | SHARED VOTING POWER | |
| | |
| *50,647,009 | |
9. | SOLE DISPOSITIVE POWER | |
| | |
| 0 | |
10. | SHARED DISPOSITIVE POWER | |
| | |
| *50,647,009 | |
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | |
| | |
| *50,647,009 | |
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | |
| | [_] |
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | |
| | |
| 35.1% | |
14. | TYPE OF REPORTING PERSON | |
| | |
| IN | |
* Mr.
Fredriksen may be deemed to beneficially own 50,647,009 Common Shares through his indirect influence over Hemen Holding Limited and Greenwich Holdings Limited, the shares of which are held in the Trusts. The Trusts are the sole shareholders of Greenwich Holdings Limited and the indirect owners of Hemen Holding Limited. The beneficiaries of the Trusts are certain
members of Mr. Fredriksen’s family. Mr. Fredriksen disclaims beneficial ownership of any Common Shares beneficially owned by Hemen Holding Limited and Greenwich Holdings Limited, except to the extent of his voting and dispositive interests in such Common Shares. Mr.
Fredriksen has no pecuniary interest in the Common Shares beneficially owned by Hemen Holding Limited and Greenwich Holdings Limited.
CUSIP No. | G39637205 | | |
This
Amendment No. 10 (this "Amendment No. 10") amends and supplements the Amendment No. 9 to Schedule 13D (the "Schedule 13D") filed by Hemen Holding Limited, a company incorporated in Cyprus ("Hemen"), Frontline Ltd., an exempted company incorporated in Bermuda ("Frontline"), Greenwich
Holdings Limited, a company incorporated in Cyprus ("Greenwich"), C.K. Limited, a company incorporated in Jersey ("C.K. Limited"), and John Fredriksen, a citizen of Cyprus ("Fredriksen") on November 23, 2018, with respect to the common shares, par value $0.05 per share (the "Common Shares") of Golden
Ocean Group Limited, a Bermuda exempted company (the "Issuer"). Capitalized terms used in this Amendment No. 10 and not otherwise defined shall have the same meanings ascribed to them in the Schedule 13D.
Item 1. Security and Issuer
No material changes from the Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on November 23, 2018.
Item 2. Identity and Background
(a),(f) | The persons filing this statement are Frontline, Hemen, Greenwich H, C.K. Limited, and Fredriksen (collectively, the “Reporting Persons”). |
(b) | The address of the principal place of business of Frontline is Par-la-Ville Place, 14 Par-la-Ville Road, Hamilton HM 08, Bermuda. |
The address of the principal place of business of Hemen and Greenwich is P.O. Box 53562, CY3399, Limassol, Cyprus. | |
The address of the principal place of business of C.K. Limited is IFC 5, St. Helier, Jersey JE1 1SR. | |
The address of Mr. Fredriksen is c/o Seatankers Consultancy Services (UK) Limited, 15 Sloane Square, London SW1W 8ER, United Kingdom. | |
(c) | The principal business of Frontline is acting as an international shipping company. The principal business of Hemen and Greenwich is acting as
investment holding companies. Hemen is the largest shareholder in Frontline, beneficially owning approximately 46.5% of Frontline’s issued and outstanding shares. Greenwich is the sole shareholder of Hemen. The principal business of C.K.
Limited is acting as trustees of various trusts established by John Fredriksen for the benefit of his immediate family members. C.K. Limited serves as the trustee for the Trusts that are the sole shareholder of Greenwich and indirect owner of
Hemen. As a result of the foregoing, the total Common Shares reported as beneficially owned by each of Frontline, Hemen, Greenwich and C.K. Limited is reported as beneficially owned by Mr. Fredriksen. |
The name, citizenship, present principal occupation or employment and business address of each executive officer and director of Frontline is set forth below.
If no business address is given, the director’s or executive officer’s address is Par-la-Ville Place, 14 Par-la-Ville Road, Hamilton HM 08, Bermuda.
Name | Position of Officer or Director | Principal Occupation or Employment, Principal Business Address and Citizenship | ||
John Fredriksen | Chairman, President & Director | Mr. Fredriksen is a citizen of Cyprus and his principal business address is c/o Seatankers Consultancy Services (UK) Limited, 15 Sloane Square,
London SW1W 8ER, UK. Mr. Fredriksen is also the president, director and chairman of the board of directors of Seadrill Limited and is a member of the board of directors of the Issuer. | ||
Ulrika Laurin | | Director | | Ms. Laurin is a citizen of Sweden. Ms. Laurin has served as the Executive Chairman of Anglo-Atlantic Steamship Co. Ltd. and as the Chairman of
Laurin Shipping AB. Ms. Laurin has also served as the Chief Financial Officer of Anglo-Atlantic Steamship Co. Ltd. and as Commercial Manager of Laurin Maritime (UK) Ltd. |
Ola Lorentzon | Director | Mr. Lorentzon is a citizen of Sweden. Mr. Lorentzon is also the chairman of the board of directors of the Issuer. | ||
James O'Shaughnessy | Director | Mr. O'Shaughnessy is a citizen of the United Kingdom. Mr. O'Shaughnessy is also the Executive Vice President, Chief Accounting Officer and Corporate
Controller of Axis Capital Holdings Limited. | ||
Robert Hvide Macleod | Director and Principal Executive Officer | Mr. Macleod is a citizen of Norway. Mr. Macleod is also the chief executive officer of Frontline Management AS. | ||
Inger M. Klemp | Principal Financial Officer and Principal Accounting Officer | Ms. Klemp is a citizen of Norway. Ms. Klemp is also the chief financial officer of Frontline Management AS and a director of Independent Tankers
Corporation Limited. | ||
The name, citizenship, present principal occupation or employment and the business address of Hemen’s directors is set forth below. Hemen does not have any
executive officers.
Name | Position of Officer or Director | Principal Occupation or Employment, Principal Business Address and Citizenship | ||
Spyros Episkopou | Director | Mr. Episkopou's principal business address
is Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street, Ayios Athanasios, 4103 Limassol, Cyprus. Mr.
Episkopou is a citizen of Cyprus. | ||
Kyriacos Kazamias | Director | Mr. Kazamias’ principal business address is Georgiou Drosini 6, Potamos Germasogeias, 4043 Limassol, Cyprus. Mr. Kazamias is a citizen of Cyprus. | ||
Eirini Santhi Theocharous | Director | Mrs. Theocharous' principal business
address is Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street, Ayios Athanasios, 4103 Limassol, Cyprus.
Mrs. Theocharous is a citizen of Cyprus. |
The name, citizenship, present principal occupation or employment and the business address of Greenwich’s directors is set forth below. Greenwich does not
have any executive officers.
Name | Position of Officer or Director | Principal Occupation or Employment, Principal Business Address and Citizenship | ||
Christophis Koufaris | Director | Mr. Koufaris’ principal business address is Iris House 840A, 8 John Kennedy Street, P.O. Box 53510, 3303 Limassol, Cyprus. Mr. Koufaris is a
citizen of Cyprus. | ||
Spyros Episkopou | Director | Mr. Episkopou's principal business address is
Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street, Ayios Athanasios, 4103 Limassol, Cyprus. Mr. Episkopou
is a citizen of Cyprus. | ||
Eirini Santhi Theocharous | Director | Mrs. Theocharous' principal business address
is Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street, Ayios Athanasios, 4103 Limassol, Cyprus. Mrs.
Theocharous is a citizen of Cyprus. | ||
Kyriacos Kazamias | Director | Mr. Kazamias’ principal business address is Georgiou Drosini 6, Potamos Germasogeias, 4043 Limassol, Cyprus.
Mr. Kazamias is a citizen of Cyprus. |
The name, citizenship, present principal occupation or employment and principal business address of C.K. Limited’s directors is set forth below. C.K. Limited
does not have any executive officers.
Name | Position of Officer or Director | Principal Occupation or Employment, Principal Business Address and Citizenship | ||
Spyros Episkopou | Director | Mr. Episkopou’s principal business address is Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street, Ayios Athanasios, 4103
Limassol, Cyprus. Mr. Episkopou is a citizen of Cyprus. | ||
Eirini Santhi Theocharous | Alternate Director to Spyros Episkopou | Mrs. Theocharous' principal business address is Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street, Ayios Athanasios, 4103
Limassol, Cyprus. Mrs. Theocharous is a citizen of Cyprus. | ||
Philip James Jackman Le Vesconte | Director | Mr. Le Vesconte’s principal business address is IFC 5, St. Helier, Jersey, JE1 1ST. Mr. Le Vesconte is a citizen of Jersey. | ||
Lewis James Glyn Williams | Director | Mr. Williams principal business address is IFC 5, St. Helier, Jersey, JE1 1ST. Mr. Williams is a citizen of Jersey. | ||
(d), (e) | None of the Reporting Persons nor any executive officer or director of the Reporting Persons listed above, has, during the past five years, (a)
been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or
is subject to a judgment, decree or final order enjoining future violations of, or prohibiting, or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. |
Item 3. Source and Amount of Funds or Other Consideration
No material changes from the
Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission (the “SEC”) on November 23, 2018.
Item 4. Purpose of Transaction
No material changes from the Schedule 13D filed by the Reporting Persons with the SEC on
November 23, 2018.
Item 5. Interest in Securities of the Issuer
(a)-(d) As of the date hereof, Hemen may be deemed to be the beneficial owner of 50,647,009
Common Shares, constituting 35.1% of the outstanding Common Shares. This percentage ownership is based on 144,272,697* Common Shares outstanding.
Hemen has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 50,647,009 Common Shares. Hemen has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power
to dispose or direct the disposition of 50,647,009 Common Shares.
As of the date hereof, Frontline may be deemed to be the beneficial owner of 1,270,657 Common Shares, constituting
0.9% of the outstanding Common Shares based upon 144,272,697* Common Shares outstanding. Frontline has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 1,270,657 Common Shares. Frontline
has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 1,270,657 Common Shares.
As of the date hereof, Greenwich, through Hemen, may be deemed to be the beneficial owner of 50,647,009 Common
Shares, constituting 35.1% of the outstanding Common Shares based upon 144,272,697* Common Shares outstanding. Greenwich has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 50,647,009
Common Shares. Greenwich has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 50,647,009 Common Shares.
As of the date hereof, C.K. Limited, through Greenwich, may be deemed to be the beneficial owner of 50,647,009
Common Shares, constituting 35.1% of the outstanding Common Shares based upon 144,272,697* Common Shares outstanding. C.K. Limited has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of
50,647,009 Common Shares. C.K. Limited has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 50,647,009 Common Shares.
As of the date hereof, Mr. Fredriksen may be deemed to beneficially own 50,647,009 Common Shares through his indirect influence over Hemen and Greenwich, the shares of which are held in the Trusts, constituting in the aggregate 35.1% of the
outstanding Common Shares based upon 144,272,697* Common Shares outstanding. The beneficiaries of the Trusts are certain members of Mr. Fredriksen's family. Mr. Fredriksen disclaims beneficial ownership of the 50,647,009 Common Shares beneficially
owned by Hemen and Greenwich, except to the extent of his voting and dispositive interests in such Common Shares. Mr. Fredriksen has no pecuniary interest in the 50,647,009 Common Shares beneficially owned by Hemen and Greenwich.
Certain other directors of Frontline beneficially own an aggregate of
66,877 Common Shares, which is less than 0.05% of the outstanding Common Shares based upon 144,272,697* Common Shares outstanding. Except as described above, no other Common Shares are beneficially owned by the persons named in Item 2 in the
Schedule 13D.
To the best knowledge of the Reporting Persons, none of the other persons
named in response to Item 2 in the Schedule 13D have the sole power to vote or to direct the vote, the shared power to vote or direct the vote, the sole power to dispose or to direct the disposition of the Common Shares that are the subject of the
Schedule 13D.
Other than the transactions described in Item 3 and Item 6 herein and in
the Schedule 13D, there have been no transactions by the Reporting Persons in the Common Shares during the past 60 days.
* According to the Issuer’s Annual Report on Form 20-F for the Year Ended December 31, 2018.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Item 6 of the Schedule 13D is hereby amended and supplemented as follows:
On June 13,
2019 and June 14, 2019, Hemen Holding entered into cash-settled total return swap agreements (the “Total Return Swaps”) with economic exposure to 125,000 and 75,000 notional Common Shares, respectively, and Total Return Swap prices of 40.373 and 41.4545,
respectively. The expiration date of the Total Return Swaps is September 6, 2019. The Total Return Swaps provide Hemen Holding with economic results that are comparable to ownership but do not provide it with the power to vote or direct the voting
or dispose of or direct the disposition of the Common Shares that are subject to the Total Return Swaps.
The Reporting Persons may, from time to time, in the ordinary course of
business, be party to, enter into or unwind certain cash settled equity derivatives or similar contractual arrangements which provide indirect economic exposure to, but do not give the Reporting Persons direct or indirect voting, investment or
dispositive power over, securities of the Issuer and which may be significant in amount. The profit, loss and/or return on such contracts may be wholly or partially dependent on the market value of the securities of the Issuer, the relative value
of securities of the Issuer in comparison to one or more other financial instruments, indexes or securities, a basket or group of securities in which the securities of the Issuer may be included, or a combination of any of the foregoing.
Accordingly, the Reporting Persons disclaim any beneficial ownership in the securities that may be referenced in such contracts.
Item 7. Materials to be Filed as Exhibits
Exhibit A: Joint Filing
Agreement.
Exhibit B: Registration Rights Agreement (incorporated by reference to the
Reporting Persons' Schedule 13D filed with the SEC on May 5, 2014).
Exhibit C: Second Registration Rights Agreement (incorporated by reference
to the Reporting Persons' Schedule 13D filed with the SEC on March 25, 2015).
Exhibit D: Transaction
Agreement among Amber Shipowning Ltd., Opal Shipowning Ltd., Hemen Holding Limited and Sterna Finance Limited, dated June 9, 2017 (incorporated by
reference to the Reporting Persons' Schedule 13D filed with the SEC on September 8, 2017).
Exhibit E: Heads of
Agreement, dated October 16, 2017, by and among, Golden Ocean Group Limited, Hemen Holding Limited, Dedalos Shipowning Inc., Ikaros Shipowning Inc., and Sterna Finance Ltd. (incorporated by reference to the
Reporting Persons’ Schedule 13D filed with the SEC on January 30, 2018).
Reporting Persons’ Schedule 13D filed with the SEC on January 30, 2018).
Exhibit F: Memorandum of
Agreement, dated October 27, 2017, by and between Dedalos Shipowning Inc. and Golden Behike Inc. (incorporated by reference to the Reporting Persons’ Schedule 13D filed with the SEC on January 30, 2018).
Exhibit G: Memorandum of
Agreement, dated October 27, 2017, by and between Ikaros Shipowning Inc. and Golden Monterrey Inc. (incorporated by reference to the Reporting Persons’ Schedule 13D filed with the SEC on January 30, 2018).
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct.
| June 24, 2019 | |
| (Date) | |
| | |
Hemen Holding Limited | ||
| ||
By: /s/ Spyros Episkopou | ||
Name: Spyros Episkopou Title: Director | ||
| Frontline Ltd. | |
| | |
| By: /s/ Inger M. Klemp | |
| Name: Inger M. Klemp Title: Principal Financial Officer | |
| Greenwich Holdings Limited | |
| | |
| By: /s/ Spyros Episkopou | |
| Name: Spyros Episkopou Title: Director | |
| C.K. Limited | |
| | |
| By: /s/ Spyros Episkopou | |
| Name: Spyros Episkopou Title: Director | |
| /s/ John Fredriksen* | |
| (Signature) | |
| | |
| John Fredriksen* (Name) |
* Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of
their pecuniary interest therein.
Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).
Exhibit A
JOINT FILING AGREEMENT
The undersigned agree that this
Amendment No. 10 to Schedule 13D, dated June 24, 2019, relating to the Common Shares, par value $0.05 per share of Golden Ocean Group Limited shall be filed on
behalf of the undersigned.
| June 24, 2019 | |
| (Date) | |
| | |
Hemen Holding Limited | ||
| ||
By: /s/ Spyros Episkopou | ||
Name: Spyros Episkopou Title: Director | ||
| Frontline Ltd. | |
| | |
| By: /s/ Inger M. Klemp | |
| Name: Inger M. Klemp Title: Principal Financial Officer | |
| Greenwich Holdings Limited | |
| | |
| By: /s/ Spyros Episkopou | |
| Name: Spyros Episkopou Title: Director | |
| C.K. Limited | |
| | |
| By: /s/ Spyros Episkopou | |
| Name: Spyros Episkopou Title: Director | |
| /s/ John Fredriksen | |
| (Signature) | |
| | |
| John Fredriksen (Name) |