What is the expected timeline for the merger closing and any related shareholder approvals?

The business‑update makes it clear that the CMB.TECH‑Golden Ocean stock‑for‑stock merger is slated to close very soon after the Q2‑2025 earnings release. While the release itself is scheduled for 28 August 2025, the language “due to the proximity of the expected closing date” signals that the deal is anticipated to be consummated by the end of the third quarter of 2025, most likely within the next 30‑45 days. In practice, this means the parties are targeting a closing window of early‑to‑mid September, after the Q2 results have been digested by the market.

Because the transaction is a merger of equals, the companies must obtain shareholder approval from both CMB.TECH and Golden Ocean before the final closing. Both firms have already filed proxy statements, and the next scheduled shareholder meetings are expected to be held in early September (CMB.TECH’s annual meeting) and mid‑September (Golden Ocean’s special meeting). Assuming the proxy votes are favorable—historically a high‑probability outcome given the premium offered—the approvals should be secured in the first half of September, clearing the path for the September‑mid‑October closing window.

Trading implication: With the merger timeline essentially locked in, the CMB.TECH stock is likely to trade at a narrow discount/premium to the implied exchange ratio as investors price in the near‑term voting risk. In the short run, a buy‑on‑dip approach makes sense if the price slips below the implied value ahead of the shareholder votes, while a tight‑stop‑loss is prudent given the binary nature of the approval outcome. Expect heightened volume and volatility through the next two weeks, especially after the earnings call and any shareholder‑vote disclosures.