KUALA LUMPUR, April 22 — Telecommunication provider Axiata Group Bhd has today offered its 3.2 million shares under the Axiata Restricted Share Plan (RSP) to eligible employees

Axiata expects the rights offered under the restricted share offer (RSO) to vest over a three-year period from the RSO’s acceptance date, subject to the eligible employees meeting their individual performance targets, the Axiata Group meeting certain financial targets exceeding certain thresholds.

"Unless the eligible employees meet their highest performance targets, the total amount of rights offered under the RSO which will vest would be lower than the total amount of Axiata shares offered,” it said in a filing with Bursa Malaysia today.

Axiata has made an offer to its president and group chief executive officer Datuk Mohd Izzaddin Idris, comprising 436,000 shares that might vest upon meeting the respective targets and Axiata’s performance.

The closing share price at the date of offer is RM3.60 per share. — Bernama