LONMIN PLC - DIRECTORS` SHAREHOLDINGS
LONMIN PLC
SHARE CODE: LON
ISIN: GB0031192486
24 December 2004
DIRECTORS` SHAREHOLDINGS
Further to the announcement made on 20 December 2004, Lonmin Plc (the `Company`)
announces that it was yesterday 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`) 3,957 ordinary shares of US$1 each in the Company
were purchased on behalf of Peter Ledger, an executive director of the company.
These shares were purchased in a number of trades on 17, 21 and 23 December
2004, at a weighted average price of ZAR102.44 per share, using funds amounting
to one-third of Mr Ledger`s after-tax bonus.
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 granted a Matched Award
to Mr Ledger on the same basis as to all other participants under the Plan,
which could enable him to receive up to a further 3,957 shares on an after-tax
basis.
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.
ENDS
Date: 24/12/2004 12:15:13 PM
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