Benzinga | Jul 14, 2020 06:53PM EDT

Scorpio Tankers Announces that Scorpio Services Holdings Limited has Purchased 100,000 Shares of the Company in the Open Market at Average Price of $12.83/Share

Scorpio Tankers Inc. (NYSE:STNG) ("Scorpio Tankers," or the "Company") announced that Scorpio Services Holdings Limited ("SSH"), a related party, has purchased 100,000 common shares of the Company in the open market at an average price of $12.83 per share.

Additionally, the President of the Company, Robert Bugbee, has purchased call options on an aggregate of 550,000 common shares (or 5,500 call option contracts) of the Company for total consideration of $2.1 million. Of these option contracts, 1,000 contracts have a strike price of $15.00 and an expiration of January 2021, and 4,500 contracts have a strike price of $18.00 and an expiration of January 2022.