MTN exec scores with share sale

By Nicola Mawson, Contributing journalist

Johannesburg, 03 Oct 2006

MTN`s group executive of human resources Paul Norman made a profit on selling shares in the cellular provider yesterday.

Shortly after the market closed, MTN told shareholders that Norman had sold 110 000 shares for R62.66 each. Norman acquired the shares as options for R9.31 each, resulting in a profit of R5.868 million.

Yesterday, the company`s shares closed at R61.80, shy of its 12-month high of R69.50, but above the 12-month low of R45.20.

The cellular company also announced it awarded share options to MTN Group COO Sifiso Dabengwa. The option is for 134 800 shares at R56.83 each. In addition, group company secretary SB Mtshali was awarded 53 000 share options at R56.83 each.