Ka-ching! Naspers CEO Bob van Dijk just made a cool R1 billion through the sale of shares in the group.
In a regulatory filing after markets closed in the Johannesburg on Wednesday, Naspers revealed that Van Dijk — who also leads Naspers’s international Internet investment vehicle Prosus — has sold 414 932 shares in Naspers worth R995.8 million.
It said he plans to reinvest most of the resulting funds back into the group in the form of bonds, which he will buy in the open market.
“Van Dijk continues to exceed the CEO minimum shareholding requirement of 10 times his salary,” Naspers said.
The money realised comes from share-appreciation rights which vested in five tranches. The first tranche of about 1.4 million shares vested in September 2012; the second, of the same quantity, in September 2016.
The remaining tranches were not included in this transaction, Naspers said.
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