Last checked at 20 Mar 2014 14:15
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