Thursday, November 22, 2012

Company announcements: SIA, Golden Ocean

SIA - CHANGE IN CAPITAL :: SALE/TRANSFER/CANCELLATION AND/OR USE OF TREASURY SHARES :: NOTICE OF TRANSFER OF TREASURY SHARES

Announcement Type: CHANGE IN CAPITAL
Company: SINGAPORE AIRLINES LTD
Stock Code/Name: C6L - SIA

CHANGE IN CAPITAL :: SALE/TRANSFER/CANCELLATION AND/OR USE OF TREASURY SHARES :: NOTICE OF TRANSFER OF TREASURY SHARES
* Asterisks denote mandatory information
Name of Announcer * SINGAPORE AIRLINES LTD  
Company Registration No. 197200078R  
Announcement submitted on behalf of SINGAPORE AIRLINES LTD  
Announcement is submitted with respect to * SINGAPORE AIRLINES LTD  
Announcement is submitted by * Mrs Ethel Tan  
Designation * Company Secretary  
Date & Time of Broadcast 22-Nov-2012 15:20:36  
Announcement No. 00028  
>> ANNOUNCEMENT DETAILS
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Announcement Title * Notice of Transfer of Treasury Shares  
Specific shareholder's approval required? * No  
DescriptionPlease see attached file.  
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Golden Ocean - THIRD QUARTER RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

Announcement Type: FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT
Company: GOLDEN OCEAN GROUP LIMITED
Stock Code/Name: KU3 - Golden Ocean

THIRD QUARTER RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT
* Asterisks denote mandatory information
Name of Announcer * GOLDEN OCEAN GROUP LIMITED  
Company Registration No. N.A.  
Announcement submitted on behalf of GOLDEN OCEAN GROUP LIMITED  
Announcement is submitted with respect to * GOLDEN OCEAN GROUP LIMITED  
Announcement is submitted by * Birgitte Ringstad Vartdal  
Designation * CFO Golden Ocean Management AS  
Date & Time of Broadcast 22-Nov-2012 14:59:58  
Announcement No. 00026  
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For the Financial Period Ended * 30-09-2012  
DescriptionGOGL – Interim Third Quarter and Interim Nine Months 2012 Results
Highlights

•Golden Ocean generates third quarter 2012 EBITDA before impairment* of $24.1 million
•Golden Ocean reports loss of $17.1 million for the third quarter of 2012
•The Company has in November 2012 cancelled two newbuilding contracts

*EBITDA before impairments is equal to operating profit plus depreciations (including impairment related to vessels) and amortisation.

Third Quarter and Interim Nine Months 2012 Results
Golden Ocean Group Limited (the “Company” or “Golden Ocean”) reports loss of $17.1 million and loss per share of $0.04 for the third quarter of 2012. This compares with profit and earnings per share of $6.4 million and $0.01 respectively for the second quarter of 2012. Total operating revenues for the third quarter were $56.5 million, total operating expenses were $66.7 million and other gains/losses net were a gain of $0.6 million. Net financial items were negative with $7.4 million.

The Company reports a profit of $2.3 million and earnings per share of $0.00 for the interim nine months result of 2012. Total operating revenues were $174.0 million, total operating expenses were $152.5 million and other gain/losses net were negative with $1.3 million. Net financial items for the interim nine months result of 2012 were negative with $17.9 million.
The loss for the period of $17.1 million is a decrease of $23.5 million compared to last quarter. The operating revenues decreased by $7.5 million, and the operating expenses increased by $19.0 million. Total other gains/ (losses) net increased by $2.5 million. This leads to a reduction in net operating income of $24.1 million since the second quarter. The main difference between the quarters is that the Company has taken impairment on several vessels in a total of $25.2 million; this is $22.3 million more than in the second quarter. The Company’s operating result before impairment is more or less in line with earlier quarters, due to the high contract coverage. The trading result is better in the third quarter, while the vessels trading spot had lower earnings. Other income was reduced since last quarter. The Company has booked revenue from Sanko on Golden Feng until end of August but has at the same time made a provision for the full amount, in total $6.2 million year to date. Net financial items increased by $0.6 million from last quarter.

Cash and cash equivalents decreased by $33.1 million during the quarter. The Company generated cash from operating activities of $18.7 million during the quarter. The Company paid $16.0 million in installments, docking and other predelivery costs in the quarter. Financing activities were negative with $32.0 million in the quarter. Ordinary and extraordinary repayments of long term debt amounted to $23.4 million, the buy back of the convertible bond used $5.9 million, while $9.6 million was drawn down on long term debt related to the newbuildings in the quarter.
The full report is available in the link below.

November 22, 2012
The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda

Questions should be directed to:
Herman Billung: CEO Golden Ocean Management AS
+47 22 01 73 41

Birgitte Ringstad Vartdal: CFO Golden Ocean Management AS
+47 22 01 73 53

 
Attachments
Total size = 127K
(2048K size limit recommended)



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