18th Mar 2005 15:43
Vedanta Resources PLC18 March 2005 Vedanta Resources plc (the "Company") Allotment of second tranche of shares granted under the Vedanta Resources ShareReward Plan ("Reward Plan") At the time of the Company's IPO in London, on 10 December 2003, the Reward Planwas established to reward 43 employees (none of whom was an executive directorat that time) of the Vedanta Resources Group, who had contributed to theCompany's development and growth over the period leading up to the IPO. Under the Reward Plan, 776,000 awards were granted on 26 February 2004, of whichhalf vested immediately. The remaining awards vested on the first anniversary ofthe date of award, subject to the employees' continued employment at that date.In respect of the second tranche of awards, 303,000 ordinary shares have beenallotted today, and it is expected that the balance of 85,000 ordinary shareswill be allotted by 26 March 2005. As disclosed upon his appointment as a director of the Company, on 24 November2004, Mr Navin Agarwal has received 100,000 ordinary shares in the secondtranche of the Reward Plan, representing 0.035% of the issued share capital ofthis class. After this allotment, Mr Navin Agarwal will be interested in 200,000ordinary shares, representing 0.070% of the issued share capital of this class. Enquiries: Matthew Hird Company Secretary Vedanta Resources plc 020-7659-4735 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Vedanta Resources