11th Jul 2008 10:43
Avocet Mining PLC ("Avocet" or "the Company")
Directors' Dealings - Issue of Options and Deferred Share Bonuses
Issue of Share Options
The Board of Avocet announces that the Company has granted options over 1,025,000 ordinary shares of 5p each in the Company to management and employees. The exercise price for these options is 153.75p and they cannot be exercised prior to the third anniversary of the date of issue, 9 July 2011. Exercise is subject to certain performance criteria of the Company as detailed in the Avocet Mining Share Option Plan. The options have an expiry date of 9 July 2015.
Jonathan Henry, the Company's Chief Executive Officer, was granted 200,000 options and holds the following options:
|
Number of options |
Exercise price |
Date from which exercisable |
Expiry date |
|
215,000 |
35.5p |
5/2/06 |
5/2/10 |
|
110,000 |
72p |
27/11/06 |
27/11/10 |
|
263,415 |
82p |
14/7/08 |
14/7/12 |
|
36,585 |
82p |
14/7/08 |
14/7/10 |
|
500,000 |
175.5p |
14/7/09 |
14/7/13 |
|
500,000 |
103.25p |
15/11/09 |
15/11/13 |
|
200,000 |
153.75p |
9/7/11 |
9/7/15 |
Mike Norris, the Company's Finance Director, was granted 150,000 options and holds the following options:
|
Number of options |
Exercise price |
Date from which exercisable |
Expiry date |
|
500,000 |
103.25p |
15/11/09 |
15/11/13 |
|
19,512 |
153.75p |
9/7/11 |
9/7/13 |
|
130,488 |
153.75p |
9/7/11 |
9/7/15 |
Deferred Share Bonuses
Under the terms of the Company's Employee Benefit Trust ("EBT"), the following directors have been granted a deferred share bonus which will be issued to the directors at the latest date 9 July 2011, subject to remaining in the Group's service at that date.
|
Director |
Existing number of EBT shares |
Number granted |
Total number of EBT shares held |
Latest date on which new shares vest |
|
N G McNair Scott |
54,129 |
8,799 |
62,928 |
9 July 2011 |
|
Sir Richard Brooke Bt. |
19,748 |
3,850 |
23,598 |
9 July 2011 |
|
J F Newman |
15,799 |
2,750 |
18,549 |
9 July 2011 |
|
R A Pilkington |
15,799 |
2,750 |
18,549 |
9 July 2011 |
|
M J Donoghue |
3,279 |
2,750 |
6,029 |
9 July 2011 |
|
R S Robertson |
3,279 |
2,750 |
6,029 |
9 July 2011 |
|
J G Henry |
70,629 |
76,246 |
146,875 |
9 July 2011 |
|
A M Norris |
- |
51,638 |
51,638 |
9 July 2011 |
Contacts:
Alan McFarlane, Company Secretary, Avocet Mining PLC, 020 7907 9000
Richard Brown, Richard Greenfield, Ambrian Partners Limited, 020 7634 4700
Related Shares:
AVM.L