NEPTUNE ORIENT LINES CEO JACOBS BUYS 100,000 SHARES IN COMPANY
Flemming Jacobs, the group president and chief executive officer of Neptune Orient Lines, the parent company of APL, has bought 100,000 shares in the company.
Jacobs acquired the shares, which have been falling on the stock market, shortly after the group announced a net deficit of $151 million for the first half of this year — its worst result since 1998.
The share purchase represents 0.01 percent of the issued share capital of Neptune Orient Lines, and increases Jacobs’ shareholding to 0.02 percent. Jacobs spent S$62,500 (about $35,700) to buy the additional shares in the open market.