Dialog offers 407 mln shares to employees in new deal
View(s):Dialog Axiata, Sri Lanka’s biggest mobile telecom service provider, is floating new, employee-liked share issue totalling over 407 million shares.
In a stock market announcement on Wednesday, the company said the shares under a proposed Long Term Incentive Plan (LTIP) would amount to 1 per cent of the total number of shares issues so far – 8.1 billion.
The rationale for issuing shares to workers is to reward and retain high performing employees. It is aligned to international best practices in employee equity participation and shareholders’ interest.
Dialog said the shares would be offered to workers in consideration of their services to the company and as such the price would be settled by way of non cash consideration.
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