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LON - Lonmin Plc - Notification of Directors` and PDMRs` shareholdings pursuant to Disclosure and Transparency Rule 3.1 Lonmin Plc (Incorporated in England and Wales) (Registered in the Republic of South Africa under registration number 1969/000015/10) JSE code: LON Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin") 2 DECEMBER 2008 Notification of Directors` and PDMRs` shareholdings pursuant to Disclosure and Transparency Rule 3.1 The Company has today received notification from the trustee of the Lonmin Employee Share Trust (the "Trustee"), on behalf of the Trustee, Directors and PDMRs listed below, that pursuant to the Deferred Annual Bonus Plan (the "Plan") the Trustee purchased shares as detailed below. In accordance with the rules of the Plan, the Trustee has also today granted conditional Matched Awards on a one for one basis (after tax) in relation to the deferrals of participants` bonuses: Director Date of Price paid Number of Number of purchase per share shares shares (pence) of purchased comprised
shares in Matched purchased Award in London granted 2 December
2008 Ian Farmer 28 880.00 4,746 8,871 November 2008
Alan 28 880.00 8,125 15,186 Ferguson November 2008 PDMR Date of Price paid Number of Number of purchase per share shares shares (ZAR) of purchased comprised shares in Matched purchased in Award
Johannesburg granted 2 December 2008 Albert 28 139.6666 4,372 7,286 Jamieson November 2008 Chris 28 139.6666 3,349 5,581 Sheppard November 2008 The Matched Awards will normally vest on the third anniversary of the award date. The proportion of an award that vests will be dependent on satisfaction of a performance condition comprised of two objective tests, assessed independently of each other. One half of the award is based on Relative Total Shareholder Return ("RTSR"), comparing the total return accruing to Lonmin shareholders with that of 20 companies selected from the mining and metals sector over a three year period (assuming dividend re-investment), with no provision for re-testing. None of the RTSR-based part of the Matched Award will vest for performance below the median of the group, the vesting schedule thereafter being as follows: Threshold (median) 20% vesting Target (upper quartile) 70% vesting Stretch (top decile) 100% vesting with straight-line interpolation between (i) Threshold and Target and (ii) Target and Stretch. The other half of the award is subject to an absolute share price growth target, which is assessed over a three year period. There will be no re-testing and no part of the share price growth based Matched Award will vest for performance less than threshold. Threshold 20% vesting Stretch 100% vesting with straight-line interpolation between Threshold and Stretch. Both performance conditions will be measured over a period of three years ending on 31 October 2011. For reasons of commercial sensitivity, the share price growth targets are not disclosed at this time although there will be full retrospective disclosure in the remuneration report following vesting. The Remuneration Committee believes that these targets should prove stretching, yet realistic and that this combination of measures fully aligns the interests of the directors and senior executives who participate in the Plan with both the strategic objectives of the Company and the interests of its shareholders. END Date: 02/12/2008 17:17:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
