| Wed 14 Dec 2011, 7:05 | | LON - Lonmin Plc - Notification of Transactions of Directors and Persons |
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LON
LOLMI
LON - Lonmin Plc - Notification of Transactions of Directors and Persons
Discharging Managerial Responsibilities
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")
13 December 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
options were granted on 12 December 2011 under the Company`s Annual Share Award
Plan ("ASAP Awards") to Ian Farmer, Chief Executive Officer, Simon Scott, Chief
Financial Officer, and the PDMRs listed below.
Director/PDMR Position Number of
shares
Ian Farmer Chief Executive Officer 27,628
Simon Scott Chief Financial Officer 13,180
Albert Jamieson Chief Commercial Officer 9,943
Barnard Mokwena Executive Vice-President Human 7,818
Capital and External Affairs
Mark Munroe Executive Vice-President Mining 9,094
Natascha Viljoen Executive Vice-President 9,365
Processing
The ASAP replaces the Deferred Annual Bonus Plan under which half the
participant`s after tax bonus was deferred and used to acquire shares in the
Company. Under the new arrangement, the participants` Balanced Scorecard bonus
opportunity has been halved and they have instead been granted ASAP Awards of an
equivalent gross amount. The ASAP has the same economic effect and cost as the
previous arrangements, but addresses the tax and cost inefficiencies of those.
ASAP Awards are not subject to a post-grant performance condition. They will
vest on the third anniversary of the date of grant (subject to continued
employment) and can be exercised at any time during the seven year period
thereafter.
END
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