15:15 04.03.09
Hemen Holding Ltd has today notified Golden Ocean Group Limited that it has launched a conditional offer to purchase 2/3 of the outstanding bonds in the 3.625 % Golden Ocean Group Limited Callable Convertible Bond Issue 2007/2012. In this issue the bondholders own 2,000 bonds, each with a face value of USD 100,000.
If successful in acquiring a two third position Hemen Holding intend to call a Bondholder's meeting in order to remove the Market Adjusted Equity Ratio in Golden Ocean's Convertible Bond Loan Agreement. Hemen hopes that the cash offer is perceived as a constructive contribution by Golden Oceans largest shareholder to create a possible basis for continued operation in Golden Ocean.
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