Hot stock: Seatrium boosted to over 6-month high on heavy trading
The index counter jumps 11.3 per cent or S$0.20 to an intra-day peak of S$1.97
SHARES of Seatrium advanced amid a steady surge in trading volumes in the morning trading session on Friday (Oct 4) and closed at S$1.99, 12.4 per cent or S$0.22 higher.
As at 11.59 am, the index counter had jumped 11.3 per cent or S$0.20 to an intraday peak of S$1.97. The last time its share price reached such levels was in February.
Seatrium was the top-traded company in terms of both volume and value on Friday, with 130.1 million shares worth S$250.6 million changing hands, compared to its 29.7 million average.
After the markets closed on Thursday, the company announced that its chief executive, Chris Ong, had on May 31, 2024, been granted 2.2 million of the company’s shares under its performance and restricted share plans.
The share award was to be for his performance from January 2024 to Dec 31, 2026. The actual number of shares he gets will be determined at the end of the three-year period, based on whether he achieves certain targets.
About 1.6 million shares have been awarded under the performance share plan, to be released in 2027.
The other 622,000 shares under the restricted share plan are to be released in three tranches annually, from 2025 to 2027.
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