The Board of Directors proposed to increase the authorized share capital of Golden Ocean by 150 per cent. Folketrygdfondet is of the opinion that an authorization to increase the authorized share capital of Golden Ocean, without any specific purpose, should be restricted to 10 % of the authorized share capital. We are of the opinion that the size of the authorization and the potential dilution of existing shareholders is not in our or other existing shareholder's interests. Furthermore, the authorization has no expiration date. An authorization to issue shares should be limited to one year – preferably from one AGM to the next AGM.