According to Seatrium back in April 29, the repurchased shares will be held as treasury shares which will in turn be deployed for its existing employee share plans, be used to pay the share component of the directors’ fees, or cancelled against the group’s share capital to increase shareholder returns.
Seatrium has commenced share buybacks on June 4, just over a month after it announced a $100 million programme to do so.
The company paid an average of just over $1.77 to buy back 1,058,000 shares.
