Bekker raised cash via share options

Naspers Chairman Koos Bekker exercised share options worth about R20bn after stepping down as company CEO last year.

|||

Johannesburg - Naspers Chairman Koos Bekker exercised share options in Africa’s biggest company by market value worth about R20.4 billion ($1.5 billion) at current prices after stepping down as chief executive officer last year, according to the media and technology company’s annual report.

The South African billionaire had 4.69 million shares as of June 26, the Cape Town-based media company said in the report.

Bekker held direct and indirect interest of 16.38 million shares as of March 2014, according to the previous year’s publication.

The difference between the two holdings is valued at about R20.4 billion at current prices, according to Bloomberg calculations.

Bekker had 11.7 million vested share options in March 2014, disclosed in the annual report as a direct interest, Meloy Horn, head of investor relations, said by email on Thursday. “Upon retiring as CEO last year, Koos exercised these options and raised cash,” she said.

Bekker, 62, stepped down as Naspers CEO in April 2014 to take a year-long break before becoming chairman earlier this year. Under his leadership, the newspaper publisher grew into the biggest emerging market media company, owning Africa’s biggest pay-TV network and stakes in Hong Kong-based Tencent Holdings and Mail.Ru Group of Russia.

* With assistance from Jacqueline Mackenzie in Johannesburg

BLOOMBERG