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LON
LOLMI
Lonmin Plc - Notification of Transactions of Directors
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")
18 August 2008
Lonmin Plc
Notification of Transactions of Directors and Persons Discharging Managerial
Responsibilities ("PDMRs")
Pursuant to DR 3.1.4 R and in accordance with the rules of the Long Term
Incentive Plan ("LTIP") contained within the Lonmin Plc Shareholder Value
Incentive Plan, the Executive Directors of Lonmin Plc and the PDMRs listed below
were granted LTIP Awards on 17 August 2006.
Directors No. of shares
Brad Mills 44,100
Ian Farmer 12,200
John Robinson 9,200
PDMRs Position No. of shares
Alistair Ross President - Platinum Operations 7,500
Rob Bellhouse Company Secretary 5,100
Lee Johnson VP - Human Capital 3,650
Alex Shorland- VP - Investor Relations 3,650
Ball
Ricus Grimbeek VP - Mining Marikana 5,000
Simo Lushaba VP - Shared Services 5,000
Alan Keeley VP - Platinum Processing 2,500
The LTIP Awards will normally vest on the third anniversary of the award date.
The proportion of an award that vests will be dependent on satisfaction of a
performance condition comprised of two objective tests, assessed independently
of each other.
One half of the award is based on Relative TSR, comparing the total return
accruing to Lonmin shareholders with that of 20 companies selected from the
mining and metals sector over a three-year period (assuming dividend
reinvestment), with no provision for re-testing. None of the RTSR-based part of
the LTIP Award will vest for performance below the median of the group, the
vesting schedule thereafter being as follows:
50th percentile 35% vesting
75th percentile 60% vesting
90th percentile 100% vesting
Between these targets, a straight-line sliding scale operates.
The other half of the award is based on EBIT (Earnings Before Interest and Tax)
by reference to the Company"s audited EBIT performance for the year ended 30
September 2008. There will be no re-testing and no part of the EBIT-based LTIP
Award will vest for performance less than $775m. The vesting schedule
thereafter is as follows:
2008 EBIT ($m)
775 35% vesting
1,000 63% vesting
1,250 100% vesting
Between these targets, a straight-line sliding scale operates.
The Remuneration Committee believes that this combination of measures fully
aligns the interests of the executives and senior managers who participate in
the Plan with both the strategic objectives of the Company and the interests of
its shareholders.
Date: 18/08/2006 12:10:44 PM Produced by the JSE SENS Department
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