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LONMIN PLC - Director/PDMR shareholding

Release Date: 01/02/2016 17:00
Code(s): LON     PDF:  
Wrap Text
Director/PDMR shareholding

 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 : GB00BYSRJ698 ("Lonmin")

 REGULATORY RELEASE


 1 February 2016

 Director/PDMR shareholding

 Notification of Directors' and PDMRs' shareholdings pursuant to Disclosure and Transparency Rule
 3.1.2 and 3.1.4

 Lonmin Plc (the “Company”) confirms that 3,600 ordinary shares of $0.0001 each in the Company
 (the “Ordinary Shares”) were released on 29 January 2016 to Ben Magara, Chief Executive Officer
 and a Director of the Company.

 These shares form the second of three equal tranches of shares due to be released under the
 Retention Award granted on 10 July 2013 to compensate Mr Magara for the loss of various
 incentives which resulted from his departure from his previous employer, Anglo American Platinum
 Limited. The remaining tranche will vest, subject to continued service, on 31 May 2016.

 The release of these shares resulted in the transaction detailed below:

 Name of      Total no. of No. of shares Remaining  No. of shares No. of shares Sale price (GB
  PDMR     shares awarded released in shares under sold (in London) retained        pence)
             in Retention    second      Retention
             Award on 10     tranche       Award
               July 2013
             (adjusted for
              2015 Rights
               Issue and
            Consolidation)
Ben Magara       10,800       3,600        3,600         1,577       2,023         £0.5525


 Following the above transaction, Mr Magara's shareholding has increased to 27,236 Ordinary Shares.

 The Company also confirms that 21,101 Ordinary Shares (adjusted for 2015 Rights Issue and
 Consolidation) in the Company were released on 29 January 2015 to Simon Scott, Chief Financial
 officer and a Director of the Company.

 These shares form the Special Award granted to Mr Scott on 7 November 2012 and converted to
 shares on 5 March 2013. Following this release, Mr Scott’s shareholding has increased to 45,157
 Ordinary Shares.

 The Company also announces that it received notification on 29 January 2016 from the Trustee of
 the Lonmin Employee Benefit Trust that the retention portion of awards granted on 28 September
 2012 under the Long Term Incentive Plan to the PDMRs listed below vested to the extent of 50%,
resulting in the release, sale and retention of shares as detailed below, all of which occurred on 29
January 2016.

The other 50% of each award was subject to a performance condition combining three years’
corporate performance (as measured in the Balanced Scorecard annual bonus plan) with Total
Shareholder Return relative to the median of a PGM mining peer group (as detailed in the
Company’s annual report), which was not met. This portion of each award has therefore lapsed.

The Company was also notified on the same date by the PDMRs of the same information in
discharge of their obligations under Rule 3.1.2 of the Disclosure and Transparency Rules.

                 Total no. of
                                   No. of
                  Ordinary
                                   shares
              Shares awarded                   No. of          No. of         No. of
Name of                             over                                                    Sale price
                (adjusted for                  shares       shares sold       shares
 PDMR                              which                                                      (GBp)
              2015 Rights Issue                vested       (in London)      retained
                                   award
                     and
                                   lapsed
               Consolidation)
 Michael
Gomes Da            3,428           1,714       1,714           739             975          0.5525
  Costa
 Abram
 Mojela             3,016           1,508       1,508           655             853          0.5525
 Kgotle




                                               - ENDS -

ENQUIRIES

Investors / Analysts:
Lonmin
Tanya Chikanza                                       +44 20 7201 6007
Sue Vey                                              +27 72 644 9777

Media:
Cardew Group
Anthony Cardew / James Clark                         +44 20 7930 0777

Notes to editors

Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is
one of the world's largest primary producers of PGMs. These metals are essential for many industrial
applications, especially catalytic converters for internal combustion engine emissions, as well as
their widespread use in jewellery.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of
known global PGM resources are found.

The Company creates value for shareholders through mining, refining and marketing PGMs and has a
vertically integrated operational structure - from mine to market. Lonmin's mining operations
extract ore from which the Process Division produces refined PGMs for delivery to customers.
Underpinning the operations is the Shared Services function which provides high quality levels of
support and infrastructure across the operations.

For further information please visit our website: http://www.lonmin.com



Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

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