Oslo: Franklin Enterprises, a family trust belonging to John Fredriksen, yesterday came in for $6.2m of Golden Ocean’s $200m convertible bond offer.
Following the acquisition, Franklin holds in aggregate $84.6m in the convertible bond, convertible into 4,244,856 shares in Golden Ocean, equalling approximately 2.5% of the shares and votes in the company. Further, Hemen Holding, which is indirectly controlled by trusts established by Fredriksen, holds 74,436,122 shares in Golden Ocean, equalling approximately 43.12 % of the shares and votes in the company.
In addition, Hemen holds TRS agreements with underlying exposure to 195,648 shares in Golden Ocean. The expiry date of the TRS agreements is 7 September 2015 and the TRS price is NOK 29.68 per share. The foregoing calculations are made based on 172.6m outstanding shares in Golden Ocean.