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Avocet Mining PLC (AVM)

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Thursday 01 April, 2010

Avocet Mining PLC

Director Shareholding

RNS Number : 6861J
Avocet Mining PLC
01 April 2010
 



Avocet Mining PLC ("Avocet" or the "Company")

 

Directors' Dealings

 

Issue of Shares from Treasury

 

Annual Incentive Awards - Unrestricted and Restricted Share Bonuses

 

Under the terms of the Company's Share Bonus Plan, and following the satisfaction of performance criteria, the following directors have been granted an award of restricted and unrestricted ordinary shares of 5p each in the Company ('Shares').  The incentive plan provides for 50% of the Shares to be unrestricted for sale at the date of award, and 50% of the Shares to be restricted for sale for a period of 12 months:

 

Director

 

Number of

shares granted

Total number

of unrestricted shares

awarded

 

Total number

of restricted shares

awarded





J G Henry

494,505

247,253

247,252

A M Norris

271,978

135,989

135,989

 

The awards above have been settled through the issue of 758,195 Shares from the Company's treasury shares on 1 April 2010, with the balance of 8,288 Shares to be issued to Jonathan Henry from the Company's Employee Benefit Trust ("EBT"). Following this transaction, the Company holds no treasury shares.

 

Exercise of Options - Director's Shareholding

 

The Company was informed today that Jonathan Henry had on 31 March 2010 exercised options over 110,000 Shares ('Options') with an exercise price of 72p.

 

Application has been made for the 110,000 Shares issued pursuant to the exercise of these Options to be admitted to trading on AIM, and admission is expected on 9 April 2010.

 

Following the exercise of these Options announced today, Jonathan Henry holds the following Options:

 

Number of options

Exercise price

Date from which exercisable

 

Expiry date









263,415

82p

14/7/2008

14/7/2012

36,585

82p

14/7/2008

14/7/2010

450,000

81p

25/6/2012

25/6/2016

500,000

103.25p

15/11/2009

15/11/2013

200,000

153.75p

9/7/2011

9/7/2015

250,000

105p

18/3/2013

18/3/2017

 

 

As a result of the grant of bonus Shares and the exercise of Options, Jonathan Henry holds 1,646,136 Shares (including 247,252 restricted Shares), while Mike Norris holds 382,362 Shares (including 135,989 restricted Shares).

 

 

Contacts:

 

Jim Wynn, Company Secretary, Avocet Mining PLC, 020 7766 7676

 

Richard Brown, Richard Greenfield, Ambrian Partners Limited, 020 7634 4700


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