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mtnMoneyweb reports that eight MTN Group executives have netted over 1.3 million shares in the telecommunications giant, valued at R116.857 million at the market price (R87.79) when they were issued at the end of December.  

The shares, issued under the group’s 2015 performance share plan (PSP), will vest in December 2021.  Group president and CEO Rob Shuter received over 400,000 shares, valued at R38.3 million at the December market price.  Group COO and group CFO, Jens Schulte-Bockum and Ralph Mupita, received around 200,000 shares, valued at R18 million and R17 million respectively.  The group also awarded shares to five other executives who are named prescribed officers.  Apart from the shares awarded to the eight executives, employees at all managerial levels (junior through to senior/executive) are eligible to be awarded shares.  As at end-December 2017, there were in excess of 16 million shares issued under the PSP plan still outstanding.  The group noted in its 2017 integrated report that zero conditions had been achieved for the awards made in 2015 (deferred to June 2016 and 2017).  At the end of 2017, the executives and prescribed officers were awarded nearly 750,000 shares under the plan, significantly fewer than in December 2018.

  • Read the original of this report by Hilton Tarrantin full at Moneyweb

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