Vedanta Resources PLC
18 March 2005
Vedanta Resources plc (the 'Company')
Allotment of second tranche of shares granted under the Vedanta Resources Share
Reward Plan ('Reward Plan')
At the time of the Company's IPO in London, on 10 December 2003, the Reward Plan
was established to reward 43 employees (none of whom was an executive director
at that time) of the Vedanta Resources Group, who had contributed to the
Company's development and growth over the period leading up to the IPO.
Under the Reward Plan, 776,000 awards were granted on 26 February 2004, of which
half vested immediately. The remaining awards vested on the first anniversary of
the date of award, subject to the employees' continued employment at that date.
In respect of the second tranche of awards, 303,000 ordinary shares have been
allotted today, and it is expected that the balance of 85,000 ordinary shares
will be allotted by 26 March 2005.
As disclosed upon his appointment as a director of the Company, on 24 November
2004, Mr Navin Agarwal has received 100,000 ordinary shares in the second
tranche of the Reward Plan, representing 0.035% of the issued share capital of
this class. After this allotment, Mr Navin Agarwal will be interested in 200,000
ordinary shares, representing 0.070% of the issued share capital of this class.
Enquiries: Matthew Hird
Vedanta Resources plc
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