3rd Oct 2005 15:19
Lonmin PLC03 October 2005 3 October 2005 Lonmin Plc Notification of Transactions by Persons Discharging Managerial Responsibilities("PDMRs") Pursuant to DR 3.1.4 R and in accordance with the rules of the Lonmin Stay &Prosper Plan (the "Plan"), the PDMR listed below has been granted an Award underthe Plan. The Award was made on 30 September 2005, based on a price of £11.63, this pricebeing derived from the average of the mid-market closing price of Lonmin Plcshares during the month of August 2005. PDMRs Position Shares Alan Keeley VP - Processing 5,400 The Stay & Prosper Plan is a cash incentive plan designed to link theremuneration of the Company's senior management to the increase in value of theCompany's shares. 75% of the Award is subject to stretching Relative TSR performance conditionsrelating to the performance of the Company over a three year period. The totalshareholder return achieved by a Lonmin shareholder during the period will becompared to that of 15 other mining or mining-related companies. 35% of theaward vests for performance at the median level of the group, rising to 50% atthe 70th percentile and 100% vesting is achieved for performance at or above the92nd percentile, with straight-line interpolation between these levels. Thebalance of the Award is designed to retain key managers with the group andtherefore is not subject to performance conditions, but does not have any "goodleaver" provisions associated with it. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lonmin