6th Dec 2011 15:56
6 December 2011
Notification of Directors' and PDMRs' share dealings pursuant to DTR 3.1.4 R
Lonmin Plc (the "Company") was notified on 5 December 2011 by the Trustee of the Lonmin Employee Benefit Trust that the awards made on 2 December 2008 under the Deferred Annual Bonus Plan reached their maturity on 2 December 2011. As a consequence:
(1) The participants' Invested Shares (being ordinary shares of $1 each in the Company purchased in December 2008) were transferred into their own names on 5 December 2011;
(2) The shares comprised in the 1:1 Matched Awards (on an after-tax basis) lapsed in full. These Awards were subject to a performance condition comprising two independent parts:
·; 50% was subject to Lonmin TSR relative to a group of 20 mining and metals companies over the three years ending 31 October 2011, in each case normalised into US dollars. The Company finished below median and this portion of the Matched Awards lapsed.
·; The other 50% was subject to a share price test over the three years ending 31 October 2011. The Company finished below the threshold level and this portion of the Matched Awards also lapsed.
Director/PDMR | Invested Shares released from trust
| No. of shares granted under Matched Award | No. of shares lapsed under Matched Award |
Ian Farmer
| 5,801 | 9,296 | 9,296 |
Albert Jamieson
| 4,549 | 7,635 | 7,635 |
Mark Munroe
| 717 | 1,203 | 1,203 |
The Company was also notified of the same information by the individuals concerned in discharge of their obligations under DTR 3.1.2 R on the same date.
END
Related Shares:
Lonmin