News

Offer of Performance Share Grant Under Long Term Incentive Plan For The Eligible Employees Of Maxis And Its Subsidiaries ("LTIP")

Back Dec 27, 2018
Type Announcement
Subject OTHERS
Description

MAXIS BERHAD ("MAXIS" OR "COMPANY")

OFFER OF PERFORMANCE SHARE GRANT UNDER LONG TERM INCENTIVE PLAN FOR THE ELIGIBLE EMPLOYEES OF MAXIS AND ITS SUBSIDIARIES ("LTIP")

Pursuant to Paragraph 9.19(51) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that Maxis had today, made the offer of performance share grant (“PS Grant”) involving  8,105,800 ordinary shares in Maxis (“Maxis Shares”) to the eligible employees of Maxis and its subsidiaries.

Details of the PS Grant are as follows:
1. Date of offer: 27 December 2018
2. Number of Maxis Shares granted: 8,105,800 Maxis Shares
3. Closing price of Maxis Shares on date of offer: RM5.35
4. Number of Maxis Shares granted to each Director: Nil
5. Vesting period of Maxis Shares granted: 30 months 

Note *
Subject to the terms and conditions of the by-laws governing the LTIP, the eligible employees shall be entitled to receive new Maxis Shares to be issued pursuant to the LTIP, upon meeting the vesting conditions as set out in the letter of offer for the LTIP. The vesting conditions comprise, amongst others, the performance targets for the period commencing 1 January 2018 and end of 31 December 2020, as stipulated by Maxis Remuneration Committee. The Maxis Shares under the offer shall vest on 30 June 2021, subject to meeting such performance targets. 

This announcement is dated 27 December 2018.




Announcement Info

Company Name MAXIS BERHAD
Stock Name MAXIS
Date Announced 27 Dec 2018
Category General Announcement for PLC
Reference Number GA1-21122018-00034
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