Magyar Telekom has launched an employee share ownership programme.
Under it, the vast majority of its 7,500 employees will receive HUF100,000 (€321) worth of shares in 2017, calculated at the market value as of June this year.
Eligible employees will also be entitled to dividends of such shares, which will be in addition to the company’s regular remuneration package.
The condition for the shares being issued is that the actual operating Free Cash Flow MT-Hungary indicator for the year ending December 31, 2015 is greater than that for the previous year.
This is likely to be known in February 2017.
In July Magyar Telekom will buy a maximum 1.6 million of its own shares in the open market and set them aside in a special purpose vehicle (ESOP Organisation) created for distributing the shares to the eligible employees.
