14th Jul 2006 12:18
Avocet Mining PLC14 July 2006 Avocet Mining PLC ("Avocet" or "The Company") 14 July 2006 Issue of Options and Deferred Share Bonuses The Board of Avocet announces that the Company has (today) granted options over900,000 Ordinary Shares of 5p to employees and a director. The exercise pricefor these options is 175.75p and they cannot be exercised prior to the thirdanniversary of the date of issue, 14 July 2009, and exercise is subject tocertain performance criteria of the Company as detailed in the Avocet MiningShare Option Plan. The options have an expiry date of 14 July 2013. Of these 500,000 options have been granted to Jonathan Henry, the Company'snewly appointed Chief Executive. Jonathan Henry is interested in 363,831ordinary shares of the Company representing 0.3% and now holds 1,240,000 optionsover ordinary shares in the Company. Under the terms of the Company's Employee Benefit Trust ("EBT"), the followingdirectors have been granted a deferred share bonus which will be issued to thedirectors at any time after 12 July 2007, subject to remaining in the Group'sservice at that date. Director Existing number Number granted Total number of Latest date on of EBT shares EBT shares held which new shares vest J G Henry 180,719 68,890 249,609 12/07/09G L Toll - 6,681 6,681 12/07/09N G McNair Scott 62,023 10,021 72,044 12/07/09Sir Richard Brooke Bt. 18,580 2,784 21,364 12/07/09J F Newman 16,007 2,227 18,234 12/07/09R A Pilkington 16,007 2,227 18,234 12/07/09J U Rydell - 2,227 2,227 12/07/09 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVM.L