Steel & Tube staffer pays 97% premium to fully paid for shares held under 24-year old scheme

Tue, 17 Jan 2017

By Paul McBeth Jan. 18 (BusinessDesk) - A Steel & Tube Holdings worker paid a 97 percent premium to cover the rest of what had been partially paid shares issued under the steel product maker's old executive share scheme. On Dec. 6, a Steel & Tube employee paid $43,200, or $4.32 a share, for 10,000 shares, the company said in a disclosure to the NZX yesterday. At the time, the shares were trading at $2.19, and they were recently at $2.40, up 0.4 percent today. The board made a call for payment on Oct. 25 at the employee's request, the not...

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