10th Aug 2006 14:00
Avocet Mining PLC10 August 2006 AVOCET MINING PLC ("Avocet" or the "Company") 10 August 2006 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 10 August 2006 that it had released 487,472ordinary 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 499,179ordinary shares, representing 0.41 per cent of the issued ordinary share capitalof 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 487,472 ordinary shares released from the EBT, 131,892 ordinaryshares were issued to the directors of the Company from deferred share bonusawards given in 2003, 2004 and 2005. As a result of this issue, the shareholdings of the directors of the Company towhom shares have been issued are detailed below. Director Shares held Shares issued Shares held Percentage prior to award under EBT post award currently held schemeJonathan Henry 333,831 86,179 420,010 0.35Nigel McNair Scott 5,806,833 28,571 5,835,404 4.8Sir Richard Brooke Bt. 62,500 5,714 68,214 0.06John Newman 53,600 5,714 59,314 0.05Robert Pilkington 198,500 5,714 204,214 0.17 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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