Naspers awards CEO R134m in share options

Johannesburg - Naspers has awarded CEO Bob Van Dijk $10.4m (about R134.16m) in long-term share options as Africa’s biggest company by market value seeks to boost its global internet businesses amid declining profit at the sub-Saharan Africa pay-TV operation.

The incentive comes on top of a salary of $2.2m (about R28.38m) in pay and bonuses for the most recent fiscal year through March, the Cape Town-based company said in its annual report published Friday.

READ: Naspers drags JSE down as tech sell-off weighs

Chief Investment Officer Mark Sorour received $2.6m (about R33.5m), including a $1.2m bonus based on his deal making success, which included the sale of Polish online business Allegro for $3.25bn.

The pay awards correspond with a year in which Naspers' earnings increased by 41% to $1.8bn, driven by the performance of Chinese internet company Tencent Holdings.

Naspers executives met with investors in the US and London last month about a planned bond issue to help repay debt and pursue further acquisition targets as the company seeks more fast-growing investments.

Naspers' shares gained 0.6% to R2 806.25 on the JSE on Friday, extending the year's gains to 39%.

*Fin24 is part of Media24, a subsidiary of Naspers.

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