Long term incentive plan update

 

TIDMEGU 
 
RNS Number : 1111U 
European Goldfields Ltd 
08 October 2010 
 

                                                      Suite 200, Financial Plaza 
                                                              204 Lambert Street 
                                                               Whitehorse, Yukon 
                                                                  Canada Y1A 3T2 
 
 
For Immediate Release 
 
                        LONG TERM INCENTIVE PLAN UPDATE 
 
8 October 2010 - European Goldfields Limited (TSX / AIM: EGU) ("European 
Goldfields" or the "Company") reports that on 1 October 2010 as part of the 
continued development of its Long Term Incentive Plan, the Company's board of 
directors ("Board") approved the grant of 2,349,000 restricted share units 
("RSUs") under the Company's Equity Participation Plan, to various directors, 
officers and senior employees of the Company and its subsidiaries. The vesting 
of the RSUs is subject to the achievement of certain criteria designed to align 
the long term interests of directors and employees with those of shareholders. 
The Board also approved the grant of a further 651,000 RSUs to be made to future 
employees recruited to fill a number of critical roles within the business. 
 
The Board approval permitted the directors to elect to take the RSUs as DPUs 
under the terms of the Company's Deferred Phantom Unit ("DPU") Plan and the 
directors have elected to receive DPUs as follows: 
 
+----------------------+----------------------+ 
| Name of Director     | Number of DPUs       | 
|                      | granted              | 
|                      |                      | 
+----------------------+----------------------+ 
| Martyn Konig         | 675,000              | 
+----------------------+----------------------+ 
| Mark Rachovides      | 450,000              | 
+----------------------+----------------------+ 
| Timothy Morgan-Wynne | 450,000              | 
+----------------------+----------------------+ 
| Alfred Vinton        |   33,000             | 
+----------------------+----------------------+ 
| Bruce Burrows        |   33,000             | 
+----------------------+----------------------+ 
| Jeff O'Leary         |   33,000             | 
+----------------------+----------------------+ 
 
 
 
About European Goldfields 
 
European Goldfields is a developer-producer with globally significant gold 
reserves located within the European Union. The Company generates cash flow from 
its 95% owned Stratoni operation, a high grade lead/zinc/silver mine in 
North-Eastern Greece. European Goldfields will evolve into a mid tier producer 
through responsible development of its project pipeline of gold and base metal 
deposits at Skouries and Olympias in Greece and Certej in Romania. The Company 
plans future growth through development of its highly prospective exploration 
portfolio in Greece, Romania and Turkey. 
 
For further information please see the Company's website at www.egoldfields.com 
 
For further information please contact: 
 
European Goldfields 
Liberum Capital Limited 
Steve Sharpe, VP Business Development                             Simon Atkinson 
e-mail: [e-mail] Fyson 
Tel: [phone] 
Tel: [phone] 
 
Brunswick 
      Evolution Securities Limited 
Carole Cable / Fiona Micallef-Eynaud                                    Rob 
Collins 
e-mail: [e-mail]                        Tim Redfern 
Tel: [phone] 
Tel: [phone] 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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