Offer Of Performance Share Grant Under Long Term Incentive Plan For The Eligible Employees Of Maxis And Its Subsidiaries ("LTIP")
|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 10,500,500 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: 9 September 2021
2. Number of Maxis Shares granted: 10,500,500 Maxis Shares
3. Closing price of Maxis Shares on date of offer: RM4.72
4. Number of Maxis Shares granted to each Director: Nil
5. Vesting period of Maxis Shares granted: 34 months (3 years)
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 2021 and end of 31 December 2023, as stipulated by Maxis' Remuneration Committee. The Maxis Shares under the offer shall vest on 30 June 2024, subject to meeting such performance targets.
This announcement is dated 9 September 2021.
|Company Name||MAXIS BERHAD|
|Date Announced||09 Sep 2021|
|Category||General Announcement for PLC|