24th Jul 2007 11:10
Avocet Mining PLC24 July 2007 24 July 2007 AVOCET MINING PLC ("Avocet" or the "Company") Directors' shareholding, notification of interests - Employee Benefit Trust Maitland Trustees Limited as Trustee of the Avocet Mining Employee Benefit Trust("EBT") informed the Company on 23 July 2007 that it had released 193,181ordinary shares of 5p each in the Company to the beneficial ownership of planmembers of the EBT. These EBT shares were allocated to employees of the Companyin prior years as deferred share bonus awards. As a result of the releasesMaitland Trustees Limited as Trustee of the EBT now holds a total of 1,305,998ordinary shares, representing 1.1 per cent of the ordinary share capital inissue of the Company. Maitland Trustees Limited acts as the trustee for the Company's EBT, a plan setup in order to reward employees for the performance of the Company on a longterm basis and to enable the Company to continue to attract a high calibre ofmanagement and operational personnel. The directors of the Company are potentialbeneficiaries under the EBT and are deemed to be interested in those shares heldor dealt in by the EBT for the purposes of section 324 of the Companies Act1985. Of the 193,181 ordinary shares released from the EBT Jonathan Henry, theCompany's Chief Executive Officer, received 91,116 shares. These were fromdeferred share bonus awards given in 2004, 2005 and 2006. As a result of this issue Jonathan Henry now holds 756,126 ordinary shares inthe Company representing 0.63 per cent of the issued share capital, Furthermore the Company issued 40,816 shares from treasury to satisfy anexercise of share options. The Company now holds 1,956,184 Ordinary Shares intreasury representing 1.64 per cent of the total ordinary shares in issue. Thetotal number of ordinary shares in issue (excluding those held in treasury)amounts to 119,620,346. Contacts: Alan McFarlane, Company Secretary, Avocet Mining PLC, 020 7907 9000Fiona Kindness, Director, Grant Thornton Corporate Finance, 020 7728 3414 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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