MTN has said in a regulatory filing that it will hand out millions of rand in shares to various company directors.
The shares were awarded in accordance with MTN’s Performance Share Plan, and are vested over a three year period.
MTN Group CEO Rob Shuter is a primary beneficiary, having been awarded 436,600 shares worth R38.3 million.
Chief financial officer Ralph Mupita was awarded 190,200 shares worth R16.7 million, while chief operating officer Jens Schulte-Bockum was awarded 205,500 shares worth R18 million.
The move comes following numerous new executive appointments at MTN in recent years.
The share allocations and values in MTN’s filing are listed below.