30th Sep 2013 12:54
Lonmin Plc4 Grosvenor PlaceLondon SW1X 7YLUnited Kingdom
T: +44 (0)20 7201 6000F: +44 (0)20 7201 6100
www.lonmin.com
REGULATORY RELEASE
30 September 2013
Notification of Transactions of Directors and
Persons Discharging Managerial Responsibilities ("PDMRs")
Pursuant to DTR 3.1.4 R, Lonmin Plc (the "Company") confirms that nil cost awards were granted on 27 September 2013 under the Company's Long Term Incentive Plan ("LTIP") to Ben Magara, Chief Executive Officer, Simon Scott, Chief Financial Officer, and the PDMRs listed below.
The LTIP awards made to Ben Magara and Simon Scott are wholly subject to the satisfaction of a performance condition comprising:
(1) the measurement of sustained and broad-based operational performance using the Company's Balanced Scorecard averaged over three years; and
(2) the Company's Total Shareholder Return over a three year period relative to the median of a group comprising the Company's five direct peers producing Platinum Group Metals.
The operational targets support the delivery of the Company's medium term targets, as disclosed in the Company's annual report and the methodology of the performance condition is similarly explained more fully in the remuneration report in the annual report.
Director | Position | Number of shares |
Ben Magara | Chief Executive Officer
| 227,502 |
Simon Scott | Chief Financial Officer
| 109,824 |
LTIP awards were also made to the PDMRs listed below. These awards comprise a 50% retention component, the normal vesting of which is not subject to any performance condition other than continued service with the Group for three years. The remaining 50% is subject to satisfaction of the same performance condition as described above.
PDMR | Position | Number of shares |
Abey Kgotle | Executive Vice-President Human Resources | 40,720 |
Barnard Mokwena | Executive Vice-President Transformation | 50,354 |
Lerato Molebatsi
| Executive Vice-President Communications & Public Affairs | 39,475 |
Mark Munroe | Executive Vice-President Mining | 57,328 |
Natascha Viljoen | Executive Vice-President Processing & Sustainability | 52,699 |
- 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