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GOGL - Grant of share options to senior management

HAMILTON, Bermuda, Nov. 11, 2016 (GLOBE NEWSWIRE) -- Golden Ocean Group Limited ("Golden Ocean" or the "Company") hereby announces that 700,000 share options have been issued to senior management in accordance with the terms of the Company's Share Option Scheme. The share options will have a five-year term and will vest equally one third over a three-year vesting period. The exercise price is USD 4.20. The exercise price will be adjusted for any distribution of dividends made before the relevant options are exercised.

The following primary insiders have been allocated options according to the above and they have the following number of shares and options in the Company:

Primary InsiderNew Share optionsTotal share optionsShareholdings
Birgitte Vartdal (CEO)225,000236,00011,300
Thomas Semino (CCO)150,000150,0000
Per Heiberg (CFO)100,000105,6383,000

November 11, 2016

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

CONTACT: Per Heiberg CFO Direct phone: +47 22 01 73 45 Mobile phone: +47 952 20 264

Source:Golden Ocean Group Limited