Team Tankers has delivered a stack of its shares to executive chairman Morten Arntzen as part of a stock grant announced in September.

The Norwegian chemical tanker owner said Arntzen received nearly 177,000 shares, which are worth about NOK 2m ($237,000) at today's price on the Oslo Stock Exchange.

The executive has rights to acquire nearly 884,000 additional shares, Oslo-listed Team said.

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