Lonmin PLC Director/PDMR Shareholding (4978C)
April 13 2017 - 11:00AM
UK Regulatory
TIDMLMI
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 Ordinary Shares of $0.0001
the financial instrument, each
type of instrument ISIN: GB00BYSRJ698
Identification
code
--- ------------------------------- ------------------------------------
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 Aggregate Aggregate
price volume 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 Ordinary Shares of $0.0001
the financial instrument, each
type of instrument ISIN: GB00BYSRJ698
Identification
code
--- ------------------------------- ------------------------------------
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 Aggregate Aggregate
price volume 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
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