CMB.TECH completes Golden Ocean merger, issues new shares.

CMB.TECH NV has completed a stock-for-stock merger with Golden Ocean Group Limited, with CMB.TECH Bermuda Ltd. as the surviving company. The merger was approved by Golden Ocean shareholders holding 92.72% of the shares present. CMB.TECH issued 95,952,934 new ordinary shares through a capital increase, which will be delivered to former Golden Ocean shareholders as merger consideration at an exchange ratio of 0.95 CMB.TECH shares per Golden Ocean share.

Title: CMB.TECH Completes Merger with Golden Ocean Group Limited

CMB.TECH NV (NYSE: CMBT) has successfully completed its merger with Golden Ocean Group Limited, creating one of the world's largest diversified maritime groups. The stock-for-stock merger was approved by 92.72% of Golden Ocean shareholders, with CMB.TECH issuing 95,952,934 new ordinary shares at an exchange ratio of 0.95 CMB.TECH shares for each Golden Ocean share [1].

The merged entity now features a combined fleet of 250 vessels valued at approximately $11.1 billion, including dry bulk vessels, crude oil tankers, and container ships. Notably, 80+ vessels are hydrogen- and ammonia-ready, and the fleet averages 6.1 years in age. The company maintains strong liquidity exceeding $400 million and will trade on three major exchanges: New York, Brussels, and Oslo [1].

Alexander Saverys, CEO of CMB.TECH, commented: "Today, we are delighted to close the merger between CMB.TECH and Golden Ocean. In less than 18 months, we have transformed a pure play crude oil tanker company into a large and leading diversified and future-proof maritime group. As we welcome the Golden Ocean team and fleet to the CMB.TECH family, we look forward to creating value for all our stakeholders with our modern fleet of more than 250 ships. 11 billion USD worth of assets, three public listings in New York, Brussels and Oslo, more than one third of our fleet ready to be powered by low carbon fuels, a contract backlog of 3 billion USD … and one goal : decarbonise today to navigate tomorrow" [1].

Settlement of the merger occurred yesterday, with Golden Ocean shares ceasing to trade on Nasdaq and Euronext Oslo. Former holders of Golden Ocean shares will receive their portion of ordinary CMB.TECH shares as merger consideration at the exchange ratio of 0.95 ordinary shares of CMB.TECH for each common share of Golden Ocean [1].

CMB.TECH's ordinary shares, including the newly issued shares, will begin trading on Euronext Brussels and the New York Stock Exchange (NYSE) today. Additionally, Euronext Oslo Børs has approved CMB.TECH's application for a secondary listing of its shares, which will trade under the ticker symbol "CMBTO" [1].

References
[1] https://www.stocktitan.net/news/CMBT/press-release-cmb-tech-completes-merger-with-golden-ktrpxqmx3pqx.html