Telkom CFO Molefe follows CEO in promoting Telkom shares

Tsholofelo Molefe

Telkom chief monetary officer Tsholofelo Molefe has adopted CEO Sipho Maseko’s lead in offloading shares within the telecommunications firm following publication of its interim outcomes final week.

In a regulatory submitting with the JSE on Friday, Telkom disclosed that Molefe offered R2.8-million value of the corporate’s shares on Wednesday at a mean value of R33.42.

This comes two days after Maseko offered R6.3-million value of Telkom shares in two tranches. These gross sales came about on 12 and 13 November, simply days after the corporate exited a closed interval — throughout which the administrators should not allowed to commerce — following publication within the outcomes for the six months ended September 2020.

Telkom didn’t disclose why the pair have been sellers of its shares.

Maseko’s resolution to promote got here regardless of remarks he made eventually week’s outcomes presentation that Telkom’s shares have been “undervalued”.

The CEO introduced a spread of measures to unlock shareholder worth, together with spinning off BCX’s knowledge centre enterprise and giving better autonomy to wholesale division Openserve and property enterprise Gyro.

The concept is to run these as autonomous companies and presumably herald exterior shareholders.  — (c) 2020 NewsCentral Media

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