Axiata strives to raise our shareholder value by striking a balance between short-term profitability and long-term growth.
Proposed Establishment By Pt XL Axiata TBK (formerly Known As PT Excelcomindo Pratama TBK) ("XL"), a Subsidiary of Axiata Group Berhad ("Axiata"), of A Performance-based Long Term Incentive Scheme For Eligible Employees And Directors Of XL ("Proposed XL LTIS")
PROPOSED ESTABLISHMENT BY PT XL AXIATA TBK (FORMERLY KNOWN AS PT EXCELCOMINDO PRATAMA TBK) (“XL”), A SUBSIDIARY OF AXIATA GROUP BERHAD (“AXIATA”), OF A PERFORMANCE-BASED LONG TERM INCENTIVE SCHEME FOR ELIGIBLE EMPLOYEES AND DIRECTORS OF XL (“PROPOSED XL LTIS”)
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Announcement Details :
We refer to our announcement dated 27 December 2010 in relation to the above.
On behalf of the Board of Directors of Axiata, we wish to announce that further to clarifications sought from Bursa Malaysia Securities Berhad (“Bursa Securities”), we have received a letter dated 29 December 2010 from Bursa Securities confirming that after considering, amongst others, the relevant facts and circumstances, Axiata does not need to obtain its shareholders’ approval for the Proposed XL LTIS.
Accordingly, the only approval required for the Proposed XL LTIS is the approval of XL’s shareholders at a general meeting of shareholders to be convened.
