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LONMIN PLC - DIRECTORS" SHAREHOLDINGS

Release Date: 21/12/2004 10:30
Code(s): LON
Wrap Text

LONMIN PLC - DIRECTORS" SHAREHOLDINGS Lonmin Plc Isin Code: GB0031192486 Share Code: LON 20 December 2004 DIRECTORS" SHAREHOLDINGS Lonmin Plc (the "Company") announces that it was today advised by the trustees of the Lonmin Plc Employee Share Trust (the "Trustees") that pursuant to the company"s Deferred Annual Bonus Plan (the "Plan") the following purchases of ordinary shares of US$1 each in the Company were made on behalf of the executive directors of the company on 16 December 2004, using monies deducted from the individual directors" net bonuses: Director Percentage of Number of Price per share annual bonus shares deferred purchased Brad Mills 100% 16,644 879.1511p Ian Farmer 33.3% 4,975 879.1511p John Robinson 33.3% 4,677 879.1511p Under the rules of the Plan, which were approved by shareholders at the 2004 AGM, the Trustees make a conditional Matched Award over a number of shares which, after local taxation, would equal the number purchased on behalf of the individual participant. Accordingly, the Trustees have today granted Matched Awards to the executive directors on the same basis as to all other participants under the Plan, over the following number of shares: Director Maximum number of shares in Matched Award Brad Mills 28,211 Ian Farmer 8,433 John Robinson 7,928 The vesting of these Matched Awards is dependent on satisfaction of a performance condition, which compares the total return accruing to Lonmin shareholders with that of 13 mining and mining-related companies over a three- year period, with no provision for re-testing. No part of the Matched Award will vest for performance below the median of the group, the vesting schedule thereafter being as follows: 50th percentile (median) 50% vesting 60th percentile 75% vesting 75th percentile (upper quartile) 100% vesting with straight-line interpolation between these levels. The fourth executive director, Peter Ledger, is also a participant in the Plan. For exchange control reasons, shares for Mr Ledger and other participants in the Plan domiciled in South Africa must be purchased on the JSE Securities Exchange, South Africa. These purchases have not yet been concluded and a further announcement will follow in due course. END Date: 21/12/2004 10:30:19 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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