Telkom CEO Sipho Maseko has sold over R10.4 million worth of company shares. The shares were allocated to him and vested in terms of Telkom's share scheme for executives.
The telco confirmed in a SENS statement that both Maseko and group CFO Deon Fredericks had disposed of vested shares worth a total of around R12 million.
Maseko disposed of a total of 161 627 shares worth over R10.4 million, while Fredericks sold 25 581 shares worth over R1.6 million.
Of Maseko's shares, 145 907 were sold at a volume weighted average price of R64.72 per share, totalling R9 443 101.04, while the remaining 15 720 shares were sold at an average price of R63.41, totalling R996 805.20.
Fredericks' shares were sold at an average price of R63.45 per share, giving him R1 623 114.45 from the sale.
Telkom's share price on the Johannesburg Stock Exchange has risen over 15% in the past year and the stock was worth R64.50 early this morning.
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