Stock Exchange Filings
New Issue Of Securities (Chapter 6 Of Listing Requirements) : Other Issue Of Securities
|Subject||NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
OTHER ISSUE OF SECURITIES
AXIATA GROUP PERFORMANCE BASED LONG TERM INCENTIVE PLAN AXIATA RESTRICTED SHARE PLAN (AXIATA RSP)
We are pleased to announce that Axiata Group Berhad (“Axiata”) had today (“Date of Offer”) offered 19,577,100 Ordinary shares in Axiata (“Axiata Shares”) under the Axiata RSP to the eligible employees and Executive Directors (“Eligible Employees”) of the Axiata Group of Companies (“Axiata Group”) (“Restricted Share Offer”).
The above offer is the first grant under the Axiata Group Long Term Incentive Plan (“LTIP”) approved by the shareholders of Axiata at the Annual General Meeting held on 26 May 2016. The tenure of the Axiata Group LTIP is for a period of 10 years from 30 Sept 2016 to 29 Sept 2026.
Details of the Restricted Share Offer are as follows:-
Not applicable as the Axiata Shares will be issued upon vesting to the Eligible Employees without any consideration.
Closing Price of Axiata Share on Date of Offer: RM5.06
The rights offered under the Restricted Share Offer are expected to vest over a 3-year period from the acceptance date of the Restricted Share Offer, subject to the Eligible Employees meeting their individual performance targets, the Axiata Group meeting certain financial targets and the market price of Axiata Shares exceeding certain thresholds. Unless the Eligible Employees meet their highest performance targets the total amount of rights offered under the Restricted Share Offer which will vest will be lower than the total amount of Axiata Shares offered.
Axiata has made an offer to Tan Sri Jamaludin Ibrahim, the President & Group Chief Executive Officer. The offer comprises 670,100 Axiata Shares (Base Grant) that may vest upon meeting his target and Axiata’s performance; nil, if targets are not met and up to an additional 3,350,500 Axiata Shares, if he meets the super stretched individual performance and Axiata Group performance at the point of vesting.
This announcement is dated 14 April 2017.
|Company Name||AXIATA GROUP BERHAD|
|Date Announced||14 Apr 2017|
|Category||General Announcement for PLC|