Data provided by iNet BFA
Loading...
See More

R56.5m incentive for MTN directors

Jan 02 2013 18:29
MTN

(Duncan Alfreds, News24)

Company Data

MTN GROUP LIMITED [JSE:MTN]

Last traded 222.80
Change 0.4
% Change 0.00
Cumulative volume 2281956
Market cap 412.16bn

Last Updated: 24/07/2014 at 12:14. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

MTN ups subsribers to 183m

Tax charges dropped against MTN Uganda

MTN execs summoned over tax charges

Shanduka buys stake in MTN Nigeria

Tax charges: MTN takes action

Cloud over MTN/Shanduka deal

 
Cape Town - Ten executive directors and two company secretaries of MTN Group [JSE:MTN]  and its major subsidiaries were awarded shares worth R56.5m, according to a JSE Sens report.

The shares, awarded in terms of the MTN's performance share plan, will vest in three years from the end of December 2012.

MTN group CEO and president Sifiso Dabengwa was awarded the biggest chunk - 94 600 shares worth R16.8m, while MTN SA MD Karel Pienaar received 33 000 shares worth R5.8m.

Group CFO Nazir Patel was awarded 48 500 shares valued at R8.6m and company secretary Bongi Mtshali was awarded 6 400 shares worth R1.1m.

Three executives at its Nigerian operation was awarded shares which also vest in three years.

In its 2010 annual report, MTN explains that the purpose of the share schemes is to retain and recognise the contributions of eligible employees by providing additional incentive.

MTN, which is Africa’s largest telecom group, has been named as one of the best employers in the country, according to the CRF Institute's annual Best Employers Certification Index for 2012/13.

For the full list of share allocations, click here.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

mtn  |  remuneration
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
32 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

Investing in shares is a marathon

When investment guru Warren Buffet was 11, he bought his first shares and today he reckons that he started too late.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...