Mobile operator MTN has allocated performance-based shares worth more than R15 million to SA CEO Sifiso Dabengwa.
The company says this allocation of group shares is in accordance with its performance-based share plan.
Shares were awarded to several executive directors, directors of major subsidiaries and company secretaries in terms of MTN's employee share scheme.
Last month, Dabengwa received 111 600 ordinary shares, which are subject to performance conditions.
The price at which the shares were awarded is R142.12, and the total value of the shares amounts to R15.8 million. The vesting period is three years from the award date, which was 29 December 2011.
Finance director Nazir Patel received 57 000 shares, worth a total of R8.1 million. CFO Zunaid Bulbulia received 15 300 shares.
MTN also awarded 36 100 share options worth R5.1 million to group executive of human resources Paul Norman.
Head of Mergers and Acquisitions Khumo Shuenyane was awarded 35 300 share options, worth R5 million, and SA MD Karel Pienaar received 24 200 share options worth R3.4 million.
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