LONMIN PLC - DIRECTORS` SHAREHOLDINGS
Lonmin Plc
Isin Code: GB0031192486
Share Code: LON
20 December 2004
DIRECTORS` SHAREHOLDINGS
Lonmin Plc (the `Company`) announces that it was today advised by the trustees
of the Lonmin Plc Employee Share Trust (the `Trustees`) that pursuant to the
company`s Deferred Annual Bonus Plan (the `Plan`) the following purchases of
ordinary shares of US$1 each in the Company were made on behalf of the executive
directors of the company on 16 December 2004, using monies deducted from the
individual directors` net bonuses:
Director Percentage of Number of Price per share
annual bonus shares
deferred purchased
Brad Mills 100% 16,644 879.1511p
Ian Farmer 33.3% 4,975 879.1511p
John Robinson 33.3% 4,677 879.1511p
Under the rules of the Plan, which were approved by shareholders at the 2004
AGM, the Trustees make a conditional Matched Award over a number of shares
which, after local taxation, would equal the number purchased on behalf of the
individual participant. Accordingly, the Trustees have today granted Matched
Awards to the executive directors on the same basis as to all other participants
under the Plan, over the following number of shares:
Director Maximum number
of shares in
Matched Award
Brad Mills 28,211
Ian Farmer 8,433
John Robinson 7,928
The vesting of these Matched Awards is dependent on satisfaction of a
performance condition, which compares the total return accruing to Lonmin
shareholders with that of 13 mining and mining-related companies over a three-
year period, with no provision for re-testing. No part of the Matched Award
will vest for performance below the median of the group, the vesting schedule
thereafter being as follows:
50th percentile (median) 50% vesting
60th percentile 75% vesting
75th percentile (upper quartile) 100% vesting
with straight-line interpolation between these levels.
The fourth executive director, Peter Ledger, is also a participant in the Plan.
For exchange control reasons, shares for Mr Ledger and other participants in the
Plan domiciled in South Africa must be purchased on the JSE Securities Exchange,
South Africa. These purchases have not yet been concluded and a further
announcement will follow in due course.
END
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