Lonmin PLC Director/PDMR Shareholding (4978C)

TIDMLMI

RNS Number : 4978C

Lonmin PLC

13 April 2017

13 April 2017

Lonmin Plc

Director/PDMR shareholding

Pursuant to Article 19 of the EU Market Abuse Regulation, Lonmin Plc (the "Company") provides notification of the grant of nil-cost share awards granted on 13 April 2017 under the Company's Long Term Incentive Plan ("LTIP Awards") to Ben Magara, Chief Executive Officer and Barrie van der Merwe, Chief Financial Officer.

The LTIP Awards are subject to a performance condition comprising two metrics, each assessed independently:

-- CROIC (Cash Return On Invested Capital) averaged over three financial years. This measures net operating profit after tax (eliminating the impact of depreciation and impairment compared to invested capital); and

-- TSR (Total Shareholder Return) measured over a three year period relative to the median of a comparator group comprising PGM mining peers, all of whom operate principally in South Africa. Following feedback from shareholders, the Remuneration Committee has amended the vesting schedule (as outlined in the Company's Annual Report and Accounts 2016) to eliminate any vesting below median performance.

The notification forms below, made in accordance with the EU Market Abuse Regulation, provide further detail.

 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  --------------------------------------------------------------------- 
 a)   Name                             Ben Magara 
---  -------------------------------  ------------------------------------ 
 2    Reason for the notification 
---  --------------------------------------------------------------------- 
 a)   Position/status                  Chief Executive Officer 
---  -------------------------------  ------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------------- 
 a)   Name                             Lonmin Plc 
---  -------------------------------  ------------------------------------ 
 b)   LEI                              213800FGJZ2WAC6Y2L94 
---  -------------------------------  ------------------------------------ 
 4    Details of the transaction (s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  --------------------------------------------------------------------- 
 a)   Description of                   Ordinary Shares of $0.0001 
       the financial instrument,        each 
       type of instrument               ISIN: GB00BYSRJ698 
       Identification 
       code 
---  -------------------------------  ------------------------------------ 
 b)   Nature of the transaction        Grant of award under the 
                                        Long Term Incentive Plan 
---  -------------------------------  ------------------------------------ 
 c)   Prices(s) and volume(s)           Price(s)    Volume(s) 
                                        ----------  ---------- 
                                         Nil         597,015 
                                        ----------  ---------- 
---  -------------------------------  ------------------------------------ 
 d)   Aggregated information            Aggregate   Aggregate   Aggregate 
                                          price       volume      total 
                                        ----------  ----------  ---------- 
                                         Nil         597,015     Nil 
                                        ----------  ----------  ---------- 
---  -------------------------------  ------------------------------------ 
 e)   Date of the transaction          2017-04-13 
---  -------------------------------  ------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------ 
 
 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  --------------------------------------------------------------------- 
 a)   Name                             Barrie van der Merwe 
---  -------------------------------  ------------------------------------ 
 2    Reason for the notification 
---  --------------------------------------------------------------------- 
 a)   Position/status                  Chief Financial Officer 
---  -------------------------------  ------------------------------------ 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------------- 
 a)   Name                             Lonmin Plc 
---  -------------------------------  ------------------------------------ 
 b)   LEI                              213800FGJZ2WAC6Y2L94 
---  -------------------------------  ------------------------------------ 
 4    Details of the transaction (s): section to 
       be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) each 
       date; and (iv) each place where transactions 
       have been conducted 
---  --------------------------------------------------------------------- 
 a)   Description of                   Ordinary Shares of $0.0001 
       the financial instrument,        each 
       type of instrument               ISIN: GB00BYSRJ698 
       Identification 
       code 
---  -------------------------------  ------------------------------------ 
 b)   Nature of the transaction        Grant of award under the 
                                        Long Term Incentive Plan 
---  -------------------------------  ------------------------------------ 
 c)   Prices(s) and volume(s)           Price(s)    Volume(s) 
                                        ----------  ---------- 
                                         Nil         317,792 
                                        ----------  ---------- 
---  -------------------------------  ------------------------------------ 
 d)   Aggregated information            Aggregate   Aggregate   Aggregate 
                                          price       volume      total 
                                        ----------  ----------  ---------- 
                                         Nil         317,792     Nil 
                                        ----------  ----------  ---------- 
---  -------------------------------  ------------------------------------ 
 e)   Date of the transaction          2017-04-13 
---  -------------------------------  ------------------------------------ 
 f)   Place of the transaction         N/A 
---  -------------------------------  ------------------------------------ 
 

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April 13, 2017 11:00 ET (15:00 GMT)