Long Term Incentive Plan

RNS Number : 8148C
Antofagasta PLC
20 March 2014
 



 

NEWS RELEASE, 20 March, 2014

 

Long Term Incentive Plan awards to Persons Discharging Managerial Responsibility

Disclosures notified in accordance with DTR 3.1.2R

 

Antofagasta plc (the "Company") announces that, on 19 March 2014, awards calculated by reference to the value of ordinary shares in the Company ("Shares") were granted under the Antofagasta Long Term Incentive Plan (the "LTIP") to Persons Discharging Managerial Responsibility ("PDMR") of the Company as set out below:

Name

Position

N° Shares to which awards relate

Performance Awards

Restricted Awards

D. Hernández

CEO, Antofagasta Minerals

53,896

53,896

H. Menares

Vice President, Operations

19,762

19,762

A. Rivera

Vice President, Corporate Development

16,169

16,169

R. Muhr

Vice President, Mining Resources

16,169

16,169

F. Veloso

Vice President, Corporate Affairs and Sustainability

12,576

12,576

G. Sánchez

Vice President, Sales

12,576

12,576

A. M. Rabagliati

Vice President, Human Resources

12,576

12,576

A. Atucha

Vice President, Finance and Administration, CFO

14,373

14,373

I. Aránguiz

Vice President, Projects

10,779

10,779

P. Enei

Vice President, Legal

10,779

10,779

A. Cerda

General Manager, Minera Los Pelambres

12,576

12,576

R. Jorquera

General Manager, Minera Antucoya

8,983

8,983

S. Parada

General Manager, Minera El Tesoro

10,779

10,779

P. Troncoso

General Manager, Minera Michilla

8,983

8,983

A. Sougarret

General Manager, Minera Esperanza

12,576

12,576

 

These are awards granted under the LTIP which the Antofagasta group (the "Group") has established to reward senior executives in a way that aligns their interests with the interests of shareholders and with the Group's long-term strategic plan.  Directors of the Company are not eligible to participate in the LTIP.

 

Awards granted under the LTIP are conditional rights to receive a cash payment by reference to the number of Shares relating to the relevant award which vest under the LTIP.  The cash payment is determined by reference to the market value of the Shares at vesting.  No Shares are issued to participants in the LTIP.  No consideration was paid for the grant of any awards.

 

Performance awards are subject both to certain performance conditions, which are measured over a three year period (2014-2016), and to continued employment.  Performance awards will normally vest only after the end of the three year performance period and only to the extent that those performance conditions are met.

 

Restricted awards are subject to continued employment and normally one third will vest in March 2015, one third in March 2016 and the final third in March 2017.

 

 

                                                                                                                                                                                                               

Investors - London                                                                                 Media (Brunswick)

Andrew Lindsay                    alindsay@antofagasta.co.uk            Carole Cable         antofagasta@brunswickgroup.com

Clare Wood                           cwood@antofagasta.co.uk                Robin Wrench       antofagasta@brunswickgroup.com

Telephone                               +44 20 7808 0988                                   Telephone               +44 20 7404 5959

Investors - Santiago                                                                

Alejandro Rivera                    arivera@aminerals.cl

Telephone                               +56 2 2798 7000

                                                                                                                                                                                                               


This information is provided by RNS
The company news service from the London Stock Exchange
 
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