Remuneration of Directors by distribution of Millicom (Tigo) shares
Rhea-AI Summary
Millicom International Cellular S.A. (TIGO) has distributed a total of 31,682 shares to its Board of Directors as part of their remuneration. This distribution, approved by shareholders at the annual general meeting on May 23, 2024, covers the share-based portion of director compensation for the period from the 2024 AGM to the 2025 AGM, expected to be held in May 2025. The company has disclosed detailed information about these distributions on its website, ensuring transparency for investors and stakeholders. This move aligns with Millicom's commitment to incentivize and retain top talent in its leadership team.
Positive
- Alignment of director interests with shareholders through share-based compensation
- Transparency in disclosing remuneration details on the company website
Negative
- Potential dilution of existing shareholders' stakes due to the issuance of new shares for director compensation
News Market Reaction – TIGO
In the trading session that priced this news, TIGO gained 0.36%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Remuneration of Directors by distribution of Millicom (Tigo) shares
Luxembourg, July 30, 2024 – Millicom International Cellular S.A. ("Millicom") announces that, in accordance with the resolution of its shareholders at the annual general meeting held on May 23, 2024, it has distributed a total of 31,682 shares to members of its Board of Directors representing the share-based portion of director remuneration for the period from the date of the 2024 AGM to the 2025 AGM, planned to be held in May 2025.
Details of the distributions are disclosed on Millicom’s website.
For further information, please contact:
| Press: Sofía Corral, Director Corporate Communications press@millicom.com | Investors: Michel Morin, VP Investor Relations investors@millicom.com |
About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,500 people, and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.
