Oaktree awards Torm management and 20 employees share options
Torm's senior management along with 20 employees have been awarded share options worth a total of USD 5 million as part of a long-term incentive program.
BY OLE ANDERSEN
Torm's controlling stakeholder, US-based equity player Oaktree Capital Management, has in relation to a new long-term incentive program awarded the carrier's senior management team and 20 employees major share options, informs Torm in a statement.
Belgian shipping family Saverys acquires additional shares in Euronav and now only needs a small increase of its equity position to block a full merger between the tanker operator and rivaling company Frontline.