| Thu 4 Aug 2011, 16:32 | | LON - Lonmin - Notification of Transactions of Directors and Persons Discharging |
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LON
LOLMI
LON - Lonmin - Notification of Transactions of Directors and Persons Discharging
Managerial Responsibilities ("PDMRs")
Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN : GB0031192486 ("Lonmin")
4 August 2011
Notification of Transactions of Directors and Persons Discharging Managerial
Responsibilities ("PDMRs")
Pursuant to DTR 3.1.4 R, Lonmin Plc (the "Company") confirms that nil cost
awards were made on 3 August 2011 under the Company`s Long Term Incentive Plan
("LTIP") to Ian Farmer, Chief Executive Officer, Simon Scott, Chief Financial
Officer, and the PDMRs listed below.
The LTIP awards made to Ian Farmer and Simon Scott are wholly subject to the
satisfaction of a performance condition, the basis of which is unchanged from
that used in 2010, comprising:
(1) the measurement of sustained and broad-based operational performance using
the Company`s Balanced Scorecard averaged over three years; and
(2) the Company`s Total Shareholder Return over a three year period relative to
the median of a group comprising the Company`s five direct peers producing
Platinum Group Metals.
The operational targets support the delivery of the company`s medium term
targets, as disclosed in the Company`s annual report and the methodology of the
performance condition is similarly explained more fully in the remuneration
report in the annual report.
Director Role Number of
shares
Ian Farmer Chief Executive Officer 58,223
Simon Scott Chief Financial Officer 22,481
LTIP awards were also made to the PDMRs listed below. These awards comprise a
50% retention component, the normal vesting of which is not subject to any
performance condition other than continued service with the Group for three
years, in line with South African practice. The remaining 50% is subject to
satisfaction of the same performance condition as described above.
PDMR Role Number of
shares
Albert Jamieson Chief Commercial Officer 15,637
Barnard Mokwena Executive Vice-President 13,189
Human Capital and External
Affairs
Mark Munroe Executive Vice-President 14,987
Mining
Natascha Viljoen Executive Vice-President 13,738
Processing
END
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