1st Oct 2013 09:00
Lonmin Plc4 Grosvenor PlaceLondon SW1X 7YLUnited Kingdom
T: +44 (0)20 7201 6000F: +44 (0)20 7201 6100
www.lonmin.com
REGULATORY RELEASE
1 October 2013
Notification of Directors' and PDMRs' share dealings pursuant to DTR 3.1.4 R
Lonmin Plc (the "Company") confirms that the award for 38,415 shares in the Company granted to Simon Scott, Chief Financial Officer, on 29 September 2010 under the Long Term Incentive Plan lapsed in full on 29 September 2013.
The LTIP Award was wholly subject to a performance condition comprising the measurement of operational performance using the Company's Balanced Scorecard averaged over three years and the Company's Total Shareholder Return relative to the median of a group consisting of the Company's five direct peers producing Platinum Group Metals, measured over the same three years. Whilst the operational component was met, the relative TSR component was not. As a result, the award lapsed.
Further information regarding this performance condition, including the vesting schedule, is available in the remuneration report in the Company's annual report.
-ENDS -
ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations) | +27 11 218 8358 / +44 20 7201 6007 |
Media:
Cardew Group
James Clark | +44 20 7930 0777 |
Sue Vey | +27 72 644 9777 |
Brunswick - Johannesburg
Cecilia de Almeida | +27 11 502 7400 / +27 83 325 9169 |
Notes to editors
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of known global PGM resources are found.
The Company creates value for shareholders through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Lonmin's mining operations extract ore from which the Process Division produces refined PGMs for delivery to customers. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations.
For further information please visit our website: http://www.lonmin.com
Related Shares:
Lonmin