MTN SA's marketing director Santie Botha has sold MTN shares to the value of R7.95 million.
Botha, who bought 109 540 shares, at R16.81 each, under a share option arrangement, sold the shares for R72.61 each, MTN said on Friday.
The sale of the shares nets Botha a R6.1 million profit. The sale follows an announcement a week earlier that the company had given 13 of its directors share options over 2.44 million shares, at R71 a share.
Group president and CEO Phuthuma Nhleko was granted rights over just more than half-a-million shares, making his share option worth R36 million.
Not all of the allocation vests immediately; the first tranche of 20% vests next year and the final 30% vests towards the end of November 2011.
Group COO Sifiso Dabengwa was awarded rights over 43 400 shares, while group CFO Rob Nisbet was awarded rights over 197 400 shares.
Group HR executive Paul Norman, who in October made a profit of R5.868 million on share sales, was granted an option over another 72 100 shares.
MTN's shares closed on Friday at R73.50, up from Thursday's close of R73.20.
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