By MTN Group, Africa’s largest telecom operator, has granted shares to its company secretaries and prescribed officials, as well as those from its major subsidiaries.
The company said on the Johannesburg Stock Exchange that a group of senior MTN employees have accepted the shares, which have a three-year vesting period, and are subject to performance conditions under the MTN performance share plan.
The share awards to MTN employees come as the MTN Group continues to outperform the market.
In the quarter ended September, the group’s service revenue increased by 9% year-on-year to R156 billion, with data revenue increasing by 15.3% and fintech revenue increasing by 20%.
The telecoms provider based in South Africa also reported that group EBITDA increased 2.8% year-on-year, with an EBITDA margin of 42.8% (3Q22: 45.3%). Capex at MTN Group was R43.921 billion in the three-month period under review, up from R38 billion in Q3 2022.
Today, the company said MTN Group president and CEO, starting yesterday, was granted 321 077 shares for R36.9 million.
“An additional allocation was made to correct an omission in the 2022 performance share plan allocation. Price per share as of 9 December, 2022,” the company said.
Itweb
