Today's Labour News

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NaspersBusiness Report writes that Naspers chief executive Bob van Dijk has been given an option to buy R196 million in shares at a fixed price of R3 207 a share, the closing price on 25 June, over a period of four years.  

The move is seen as an incentive to keep Van Dijk as the chief executive of the group, which has a market capitalisation of about R1.5 trillion.  Van Dijk can buy the stock in four instalments from June 2019 to June 2022, regardless of the share price on those dates.  In the results for the year to the end of March, the group reported a 38% increase year-on-year in revenues, measured on an economic interest basis, including the proportionate contribution from associates and joint ventures, to R275.98bn.  Core headline earnings grew 72%.  The group said businesses outside South Africa contributed 84% of revenue, compared with 80% last year.  Naspers chairperson Koos Bekker said during the results presentation that the group had made good progress during the year.

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