27th Aug 2014 14:26
27 August 2014
Notification of Transactions of Directors and Persons Discharging Managerial Responsibilities ("PDMRs")
Pursuant to DTR 3.1.4 R, Lonmin Plc (the "Company") confirms that 43,434 shares in the Company were released on 26 August 2014 to Ben Magara, Chief Executive Officer and a Director of the Company.
These shares form the first of three equal tranches of shares due to be released under the Retention Award for 130,302 shares granted on 10 July 2013 to compensate Mr Magara for the loss of various incentives which resulted from his departure from his previous employer, Anglo American Platinum Limited. The remaining two tranches will vest, subject to continued service, on 31 May 2015 and 31 May 2016.
The release of these shares resulted in the transaction detailed below:
Name of PDMR | Total no. of shares awarded in Retention Award on 10 July 2013 | No. of shares released in first tranche | Remaining shares under Retention Award | No. of shares sold in London on 26 August 2014 | No. of shares retained | Sale price (GB pence) |
Ben Magara | 130,302 | 43,434 | 86,868 | 18,942 | 24,492 | 220.44 |
Following the above transaction, Mr Magara's shareholding has increased to 53,644 shares in the Company.
END
Related Shares:
Lonmin