FRO: MACLEOD PURCHASED 500,000 PURCHASE OPTIONS, ENTERED INTO TRS AGREEMENT FOR 1.05M SHARES
Oslo (TDN Direkt): On Thursday, Robert Hvide Macleod, CEO of Frontline, bought options in the market for the purchase of up to 500,000 shares in Frontline at a redemption price of NOK 65.00 per share and with an option premium of NOK 4.26 per share.
The options can be exercised at any time up to and including 18 December 2020, according to a stock exchange announcement.
In addition, Macleod on Thursday placed 1,050,000 shares in Frontline on a total return swap (TRS) contract by selling 1,050,000 shares at a price of NOK 59.30 per share and entered into a TRS agreement with exposure to the same number of shares. with an expiration date of 4 December 2020 and a TRS price of NOK 59,535 per underlying share.