Friday 29 Mar 2024
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KUALA LUMPUR (March 8): Maxis Bhd chief executive officer Morten Lundal purchased 361,155 shares of the telecommunication group on the open market.

In a filing with Bursa Malaysia today, Maxis disclosed that Lundal bought the shares at RM6.33 each last Friday.

Maxis said following the share purchase, Lundal owned a direct 0.005% stake comprising 361,155 shares in the company.

Lundal also has an indirect 0.01 % stake comprising some one million Maxis shares.

"These shares are currently held by CIMB Commerce Trustee Bhd or its nominee pursuant to the terms and conditions of the incentive arrangement that forms part of the employment contract which the director has entered into with the company, where the cash incentives payable to him were used to acquire shares from the open market.

"Subject to fulfilment of the vesting conditions and the terms and conditions of the said incentive arrangement, these shares will vest in the director on a deferred basis," Maxis said.

At 3.17pm, Maxis shares dropped two sen or 0.3% to RM6.37 for a market value of RM47.84 billion. The stock saw a trade volume of 958,200 shares.

 

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