VEON Management increases ownership
22 February 2023 - 6:50AM
VEON Management increases ownership
VEON Management increases ownership
Amsterdam, 21 February 2023: VEON Ltd.
(NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator
that provides converged connectivity and online services, announces
the completion of a further management share transfer as part of
the Group’s incentive program announced in February 2022.
Further to our press release on 28 February
2022, today we can confirm the completion of a further share
transfer to Group Executive Committee (“GEC”) member, Group Chief
Internal Audit & Compliance Officer, Joop Brakenhoff. A total
of 104,047 shares vested as part of VEON’s Deferred Share
Plan. Of those, 52,543 shares were transferred to Mr.
Brakenhoff, with the remaining 51,504 withheld to cover local
withholding tax. This award follows the completion of share
transfers to the Group CEO and Group CFO announced on 11 July 2022
and the completion of share transfers to GEC members announced on
18 July 2022.
As previously communicated, GEC members will
over time accrue and then maintain a minimum level of VEON shares.
This will be equivalent to 6.0x the annual base salary for the
Group CEO and 2.0x annual base salary for other GEC members.
Following this transaction, the total number of American Depositary
Shares held by Joop Brakenhoff is 145,115 and the number of common
shares held by Joop Brakenhoff is nil.
Disclaimer
This press release contains “forward-looking
statements”, as the phrase is defined in Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. Forward-looking
statements are not historical facts, and include statements
relating to, among other things, expectations regarding management
plans and the ability to successfully execute operating model,
governance, strategic and development plans. Forward-looking
statements are inherently subject to risks and uncertainties, many
of which VEON cannot predict with accuracy and some of which VEON
might not even anticipate. The forward-looking statements contained
in this release speak only as of the date of this release. VEON
does not undertake to publicly update, except as required by U.S.
federal securities laws, any forward-looking statement to reflect
events or circumstances after such date or to reflect the
occurrence of unanticipated events.
About VEON
VEON is a global digital operator that currently
provides converged connectivity and online services to over 200
million customers in seven dynamic markets. We are transforming
people’s lives, empowering individuals, creating opportunities for
greater digital inclusion and driving economic growth across
countries that are home to more than 8% of the world’s population.
Headquartered in Amsterdam, VEON is listed on NASDAQ and
Euronext.
For more information visit:
https://www.veon.com.
Contact InformationVEONGroup Director Investor
RelationsNik Kershawir@veon.com
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