SCHEDULE: Golden Ocean Group Merger Closes, Shares Delisted

The merger between Golden Ocean Group Limited and CMB.TECH Subsidiary has closed, resulting in the delisting of Golden Ocean shares from Nasdaq and Oslo Stock Exchange.

Summary

• This Amendment No. 5 updates the Schedule 13D filed by CMB.TECH Bermuda Ltd., CMB.TECH NV, Compagnie Maritime Belge NV, Saverco NV, Alexander Saverys, Ludovic Saverys, and Michael Saverys (the "Reporting Persons").
• The amendment specifically discloses the closing of the merger between CMB.TECH NV (CMBT), CMB.TECH Bermuda Ltd. (CMBT Subsidiary), and Golden Ocean Group Limited (the "Issuer").
• The merger was consummated on August 20, 2025.
• As a result of the merger, Golden Ocean Group Limited merged with and into CMBT Subsidiary, with CMBT Subsidiary as the surviving company.
• Each issued and outstanding share of Golden Ocean Group Limited (excluding those owned by CMBT, CMBT Subsidiary, the Issuer, or their subsidiaries) was exchanged for 0.95 ordinary shares of CMBT.
• CMBT issued an aggregate of 95,952,934 ordinary shares to former Golden Ocean Group Limited shareholders (excluding CMBT).
• All shares of Golden Ocean Group Limited were cancelled and delisted from the Nasdaq Stock Market and Oslo Stock Exchange effective August 20, 2025.
• The Reporting Persons now beneficially own 0 shares, representing 0% of the Issuer's issued and outstanding shares.
• This Amendment No. 5 is the final amendment and constitutes an exit filing for the Reporting Persons regarding their beneficial ownership of Golden Ocean Group Limited.

Sentiment

Score: 5

Explanation: Neutral, as the filing is a factual report of a completed corporate action (merger and delisting) and an exit filing for the reporting persons, rather than an operational or financial performance update.

Industry Context

This filing is a specific corporate action (merger completion) within the dry bulk shipping industry, indicating consolidation.

Related Party Transactions

• The merger itself involved CMB.TECH NV and Golden Ocean Group Limited, with CMB.TECH NV issuing shares to former Golden Ocean shareholders.

Stakeholder Impact

• Shareholders of Golden Ocean Group Limited had their shares exchanged for CMB.TECH NV ordinary shares and Golden Ocean shares were delisted.
• The delisting means Golden Ocean Group Limited shares are no longer publicly traded on Nasdaq or Oslo Stock Exchange.

Next Steps

• The shares of Golden Ocean Group Limited have been cancelled and delisted, concluding the merger process for the Issuer's shares.

Key Dates

Keywords

Golden Ocean Group Limited, CMB.TECH NV, Merger, Delisting, Shipping, Dry Bulk, Schedule 13D, Corporate Action