Mteto Nyati buys R600,000 in shares at Altron
·25 May 2017
New Altron CEO, Mteto Nyati, has spent R613,635 to acquire 55,000 shares in the listed ICT group at a price of just over R11 each.
The former MTN South Africa CEO stepped down from the mobile operator to electronics group Altron in March.
Nyati served as CEO of MTN South Africa since July 2015, and previously held executive positions at IBM and Microsoft South Africa.
Earlier in May Allied Electronics Corporation (Altron) reported a 26% drop in revenue for the year ended February 2017, to R19.7 billion.
Earnings before interest, tax, depreciation and amortisation (EBITDA) however, increased by 123% to R840 million, while headline earnings per share (HEPS) improved to a profit of 71 cents from the loss of 145 cents posted in the prior year.
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