RNS Number : 4978C
Lonmin PLC
13 April 2017
13 April 2017
Lonmin Plc
Director/PDMR shareholding
Pursuant to Article 19 of the EU Market Abuse Regulation, Lonmin Plc (the "Company") provides notification of the grant of nil-cost share awards granted on 13 April 2017 under the Company's Long Term Incentive Plan ("LTIP Awards") to Ben Magara, Chief Executive Officer and Barrie van der Merwe, Chief Financial Officer.
The LTIP Awards are subject to a performance condition comprising two metrics, each assessed independently:
? CROIC (Cash Return On Invested Capital) averaged over three financial years. This measures net operating profit after tax (eliminating the impact of depreciation and impairment compared to invested capital); and
? TSR (Total Shareholder Return) measured over a three year period relative to the median of a comparator group comprising PGM mining peers, all of whom operate principally in South Africa. Following feedback from shareholders, the Remuneration Committee has amended the vesting schedule (as outlined in the Company's Annual Report and Accounts 2016) to eliminate any vesting below median performance.
The notification forms below, made in accordance with the EU Market Abuse Regulation, provide further detail.
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
Ben Magara |
2 |
Reason for the notification |
a) |
Position/status |
Chief Executive Officer |
b) |
Initial notification/amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Lonmin Plc |
b) |
LEI |
213800FGJZ2WAC6Y2L94 |
4 |
Details of the transaction (s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary Shares of $0.0001 each
ISIN: GB00BYSRJ698 |
b) |
Nature of the transaction |
Grant of award under the Long Term Incentive Plan |
c) |
Prices(s) and volume(s) |
Price(s) |
Volume(s) |
Nil |
597,015 |
|
d) |
Aggregated information |
Aggregate price |
Aggregate volume |
Aggregate total |
Nil |
597,015 |
Nil |
|
e) |
Date of the transaction |
2017-04-13 |
f) |
Place of the transaction |
N/A |
1 |
Details of the person discharging managerial responsibilities/person closely associated |
a) |
Name |
Barrie van der Merwe |
2 |
Reason for the notification |
a) |
Position/status |
Chief Financial Officer |
b) |
Initial notification/amendment |
Initial notification |
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
a) |
Name |
Lonmin Plc |
b) |
LEI |
213800FGJZ2WAC6Y2L94 |
4 |
Details of the transaction (s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
a) |
Description of the financial instrument, type of instrument
Identification code |
Ordinary Shares of $0.0001 each
ISIN: GB00BYSRJ698 |
b) |
Nature of the transaction |
Grant of award under the Long Term Incentive Plan |
c) |
Prices(s) and volume(s) |
Price(s) |
Volume(s) |
Nil |
317,792 |
|
d) |
Aggregated information |
Aggregate price |
Aggregate volume |
Aggregate total |
Nil |
317,792 |
Nil |
|
e) |
Date of the transaction |
2017-04-13 |
f) |
Place of the transaction |
N/A |
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHBSGDSGSBBGRX
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Lonmin PLC.
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PRODUCER |
CODE : LMI.L |
ISIN : GB0031192486 |
CUSIP : 54336Q203 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Lonmin is a gold and platinum producing company based in United kingdom. Lonmin produces gold, platinum, palladium and rhodium in South Africa, and holds various exploration projects in Canada, in Gabon, in South Africa and in Tanzania. Its main assets in production are PANDORA JV, LIMPOPO, MARIKANA, EASTERN PLATINUM (EPL) and KAREE MINE (WPL) in South Africa and its main exploration properties are LUWUMBU in Tanzania, PANTON in Australia, MESSINA PLATINIUM and WESTERN PLATINUM in South Africa and WINDY LAKE in Canada. Lonmin is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 21.4 billions as of today (US$ 25.0 billions, € 22.0 billions). Its stock quote reached its highest recent level on August 28, 2009 at GBX 9 964.65, and its lowest recent point on June 28, 2019 at GBX 75.60. Lonmin has 282 784 288 shares outstanding. |