The company notified shareholders on Friday that Schindehütte had bought 55 000 shares for almost R1m at an average price of R18,07/share.
Earlier in July, Telkom told the markets — as it is required to do when directors trade in shares — that Mabuza had bought nearly R500 000 in shares. Mabuza bought 26 000 shares on 15 July for an average price of R19,14/share. The total value of the transaction was R497 581.
Just days earlier, Maseko, who took the reins as Telkom CEO on 1 April, bought 52 520 shares in the company worth R999 980.
The purchases may be meant as a signal to the market that the company’s top management team believes that it has what it takes to turn around the firm’s fortunes.
Telkom’s share price has taken a pummelling in recent years, although it has recovered strongly from a record low of R11,87/share set on 6 May. The counter was 1,6% higher in late afternoon trading on the JSE on Friday, at R18,79. — (c) 2013 NewsCentral Media