Remuneration of Directors by distribution of Millicom shares

Rhea-AI Summary

Millicom International Cellular (NASDAQ: TIGO) announced on March 8, 2021, the distribution of 42,833 treasury shares to its executive management under its deferred share-based compensation plan. These distributions align with the company’s previously approved plans from its 2018 to 2020 general meetings. This move aims to reward executive performance and enhance alignment with shareholder interests. More details on the distributions can be found on Millicom's website.

Positive

• Distribution of 42,833 treasury shares to executive management aligns executive compensation with shareholder interests.

Negative

• None.

Remuneration of Executives by distribution of Millicom shares

Luxembourg, March 8, 2021 – Millicom International Cellular S.A. ("Millicom") announces that, in accordance with the vesting terms and conditions of its deferred share-based compensation plans, approved at Millicom’s 2018, 2019, and 2020 annual general meetings of shareholders, it has distributed treasury shares to eligible plan participants, including 42,833 shares to its executive management team.

Details of the distributions are disclosed on Millicom’s website.

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For further information, please contact:

Press: Vivian Kobeh, Corporate Communications Director +1 786 628 5300 press@millicom.com

Investors: Michel Morin, VP Investor Relations +1 786 628 5270  investors@millicom.com Sarah Inmon, Investor Relations Senior Manager +1-786 628 5303                                                                                                 investors@millicom.com

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile services dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing high-speed broadband and innovation around The Digital Lifestyle® services through its principal brand, TIGO. As of December 31, 2020, Millicom operating subsidiaries and joint ventures employed more than 21,000 people and provided mobile services to approximately 55 million customers, with a cable footprint of more than 12 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

 

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• PR_Remuneration of Executives by distribution of Millicom shares_030821

FAQ

What is the significance of Millicom's share distribution on March 8, 2021?

Millicom's distribution of 42,833 shares to executives enhances alignment with shareholder interests and rewards performance.

How many shares were distributed to executives by Millicom?

Millicom distributed 42,833 treasury shares to its executive management team.

What plans governed the share distribution to executives at Millicom?

The share distribution was governed by deferred share-based compensation plans approved in the 2018, 2019, and 2020 annual general meetings.

How does Millicom's share distribution affect investors?

The share distribution aligns executive compensation with performance, potentially increasing investor confidence.

Where can I find more information about Millicom's share distribution?

More details can be found on Millicom's official website.