MTN dishes out millions in shares to executives

MTN has handed out over R86 million in ordinary shares to executive directors as part of the operator’s Performance Share Plan.

MTN CEO and president Sifiso Dabengwa received 83,100 shares at a value of R18.6 million, with a vesting period of three years from the award date.

The company’s chief financial officer, Brett Goschen, was awarded 54,700 shares at a value of R12.2 million, while┬áMTN SA CEO Ahmed Farroukh received 43,900 shares – valued at R9.8 million.

In total, 11 directors from MTN received shares, which had a market price of R224 at the time they were awarded.

In midday trade on the JSE, MTN’s shares were sitting at just over R220 each.

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MTN dishes out millions in shares to executives