FSL Trust top brass in maiden share purchase

First Ship Lease Trust (FSL Trust) has seen one of its top directors purchase shares in the struggling shipowner.

Lead independent director Michael Gray bought 500,000 shares in the Singapore-listed shipowner at SGD 0.095 each, according to a regulatory filing.

The investment, worth SGD 47,500 ($33,930), was his first acquisition of shares since joining the company two years ago.

Gray’s share acquisition was made on the back of a 48% drop in FSL Trust’s share price since September 2016 when it was SGD 0.185.