21st Jul 2005 15:20
Peter Hambro Mining PLC21 July 2005 21 July 2005 Share issues and sales - Employee Share Incentive Scheme & Tokur Additional Consideration Issue of shares under the employee share incentive scheme and Directors'dealings Peter Hambro Mining plc ("PHM" or the "Company") announces that the issue ofShares pursuant to the Group's employee share incentive scheme, full details ofwhich were set out in the AIM admission document issued in connection with theadmission of the Company's shares to trading on AIM on 29 April 2002, has nowbeen successfully completed. Under the employee share incentive scheme, certainkey directors and employees were issued a total of 2,759,368 fully paid ordinaryshares of 1p in PHM ("PHM Shares") on 20 July 2005 these shares were issued as aresult of the conversion of the equivalent number of C shares in EponymouscoLtd., a fully owned subsidiary of PHM. The existence of the share incentivescheme has previously been disclosed in the Company's annual reports. Followingthe issue of these new PHM Shares, 2,509,368 of them have been sold, conditionalon the admission of these shares to trading on AIM, by the recipients throughJP Morgan Cazenove and Cannaccord Capital Europe Ltd. The following table shows, in respect of Director participants, the number ofPHM Shares acquired and sold: Shareholder PHM shares PHM shares Resultant holding acquired sold No. of PHM shares %Pavel Maslovsky 1,379,684 1,379,684 18,844,524 23.87%Peter Hambro 349,684 349,684 5,539,800 7.02%Philip Leatham 830,000 580,000 250,000 0.32%other 200,000 200,000 n/a n/a 2,759,368 2,509,368 As previously announced, parties connected with Peter Hambro and Pavel Maslovskyhave entered into stock lending arrangements in connection with the recentconvertible bond offering with JP Morgan Cazenove covering a total of 2 millionPHM Shares (which are excluded from these figures). Issue of shares in connection with Tokur acquisition In June 2003, PHM acquired the Tokur gold deposit in Amur Region from ReagroveServices Ltd ("Reagrove"). Under the terms of the acquisition agreement asrecently amended, PHM has issued 750,000 PHM Shares on 20 July 2005 to Reagrovein part settlement of its obligation to issue a total of 1.5 million PHM Sharesas the additional consideration due for the Tokur deposit. The balance of thePHM Shares due will be issued in June 2006. The newly issued shares are alsobeing sold, conditional on the admission of these shares to trading on AIM, byReagrove through JP Morgan Cazenove and Cannacord Capital Europe Ltd. As a result of these issues of shares the total issued share capital of theCompany has increased to 78,956,507 ordinary shares. Enquiries: Alya Samokhvalova +44 (0) 20 7201 8900Investor Relations, Peter Hambro Mining David Simonson / Tom Randell +44 (0) 20 7653 6620Merlin This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
POG.L