17th Dec 2008 16:24
17 DECEMBER 2008
Notification of PDMRs' shareholdings pursuant to Disclosure and Transparency Rule 3.1.4
The Company received a notification today, 17 December 2008, from the Trustee of the Lonmin Employee Benefit Trust that matched awards made on 15 December 2005 under the Deferred Annual Bonus Plan vested to the extent of 50%, being the half of the matched award subject to a performance target based on the growth in audited EBIT profits between the years ended 30 September 2005 and 2008.
This resulted in the partial release of the matched award and subsequent sale of some of shares by Ian Farmer, a director and the chief executive of the Company, and by Albert Jamieson, a PDMR, as detailed below, all of which occurred today.
The sales by Mr Farmer and Mr Jamieson were to realise sufficient cash proceeds to satisfy their liability to income tax and (in the case of Ian Farmer) national insurance on the vesting of the award and the balance of their shares have been retained.
|
Name of PDMR |
No. of shares under original matched award |
No. of shares vested |
No. of shares sold |
No. of shares retained |
Sale price |
|
Ian Farmer |
2,273 |
1,136 |
467 |
669 |
£7.15 |
|
Albert Jamieson |
860 |
430 |
173 |
257 |
£7.15 |
In addition, the trustee has released 1,341 shares to Mr Farmer and 516 shares to Mr Jamieson which were acquired by them in December 2005 by way of investment of deferred bonus monies and which have been held since that time as part of their beneficial holdings.
The Company was today also notified of the same information by Mr Farmer and Mr Jamieson in discharge of their obligations under DTR 3.1.2 R.
Following this notification, Mr Farmer's total shareholding in the Company is 36,490.
END
Related Shares:
Lonmin